The Foreign Exchange Market is also referred as Forex market, FX market or Currency Market. Forex Markets trade the actual exchange rate between two currencies (i.e. the most traded currency pair is the EUR/USD, this is the value of 1 Euro in US Dollars). The Forex Market is the biggest and most liquid financial market in the world, with more than 3 trillion dollars of turnover on a daily basis. There is no physical location, where all the volume is traded at, this is called an Over The Counter (OTC) Market, due to the fact that all transactions over the world are conducted via telecommunications (phone, on-line platforms, etc).