Where does such appraised attitude to money in a contemporary society come from? What is money? The word "money" is believed to originate from either the Latin word "monere" (remind, warn, or instruct) or the Greek word "moneres" (alone, unique). Now people less and less use the word “money”, it is more popular to use “currency” instead. Money and currency are not analogous but very close synonyms that sometimes replace one another. Currency is not a new kind of money but a special way of their functioning when national currency becomes able to participate in the international trading, credit and payment transactions.

Every state has its own national currency and the established monetary system. People use money resources both on the internal national market and on the external – international currency relations.

It is a well-known fact that every state has its own currency and foreign currency is used for financial relations with other states. Thus, the currency exchange market is aimed at providing the participating parties with foreign currency and currency rate regulation. Besides, the importance of currency markets is very high because their existence and functioning contribute to the full value international settlements and allows the participants of financial relations gain profits in the form of currency margins.

There is the following definition of foreign exchange market in the Glossary: “The foreign exchange (currency or forex or FX) market exists wherever one currency is traded for another. It is the largest and most liquid financial market in the world, and includes trading between large banks, central banks, currency speculators, multinational corporations, governments, and other financial markets and institutions”. The average daily trade in the global forex and related markets is continously growing and was last reported to be over US$ 4 trillion in April 2007 by the Bank for International Settlement.

Thus the main target of forex is to provide services to international economic relations.

At the current stage of human development we have the following advantages of the international foreign exchange market: markets internationalization, continuous operations realization, and increase of currency operations volume targeting at hedging (insurance). In relation to this international currency exchange market is becoming more and more important in the sphere of any financial operations.

Forex market was established on 8 January, 1976 when in Kingston the Great seven voted for the refinement of the present currency system – switching to the free-floating rates. Starting from this period the currency of states-participants ceased to be converted into gold and financial operations became available on the free market by free prices.

Within the past 30 years Forex market has become one of the most powerful markets in the world. Transactions on the Forex market are one of the main banks and financial establishments sources of income all over the world.

The main Forex market advantages are:

-global character and ubiquity (any Forex Client having the access to Internet may realize financial operations from any corner of the world), 24-hour access (all financial transactions may be performed during 24 hours); -liquidity (Forex market operates huge volumes of currency providing for the simple trading operations on the current price); -leverage (Forex provides services of currency selling and buying without the necessary amount of monet. All the Client needs to do is to deposit primary amount and to operate amounts exceeding the invested money); -absence of commissions (the company does not have any charges for performing financial transactions).