You are not required to accept this License, since you have not signed it. These actions are prohibited by law if you do not accept this License. USD, therefore, is the default 'lead' currency. In these cases, the market is measured in terms of amount of USD per 1 EUR, GBP, AUD and NZD and they are the 'lead' currencies. There is no centralized location for trading as there is in futures or stocks.
Trading occurs over the telephone and on computer terminals at thousands of locations worldwide.
Foreign Exchange is also the world's largest and deepest market. This market can absorb trading volumes and per trade sizes that dwarf the capacity of any other market. On the simplest level, liquidity is a powerful attraction to any investor as it suggests the freedom to open or close a position at will. A substantial attraction for participants in the Forex market is the 24-hour nature of the market. In Forex, a participant need not wait to react to an unfavorable event, as is the case in many markets.