Over the last three decades, forex has become the world's largest financial market, with more than £1 trillion traded daily. Spot forex, FX or forex is part of the bank-to-bank currency market known as the 24-hour interbank market. The interbank market literally follows the sun around the world, moving from the major banking centers in Australia and New Zealand to the Far East, Europe and the United States and then back to Australia.

Until recently, the forex market wasn't suitable for the average trader or individual speculator. Large minimum transaction sizes and often-stringent financial requirements limited the forex market to large banks, hedge funds, major currency dealers and highest net-worth individual speculators. These large volume traders were able to take advantage of the many benefits offered by the forex market, including fantastic liquidity and the strong trending nature of the world's primary currency exchange rates.