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The Forex (FOReign EXchange) market appeared at the end of the 1970s after many countries decided to unpeg their currency value from that of the US dollar or gold. This led to the forming of an international market on which currency could be exchanged and traded freely. Today, Forex is the largest financial market in the world
Source: alpari.com, "Forex Trading with Alpari: Dependability and Innovation in Trading"