Forex (foreign exchange) markets are decentralized global markets for the trading of currencies. These markets are the largest and most liquid financial markets in the world, with average daily volumes in the trillions of dollars. In forex markets, participants buy, sell, exchange and speculate on currencies, including all the world's currencies. The value of a currency is determined by its supply and demand in the forex market. The primary participants in the forex market are large banks, central banks, commercial banks, hedge funds, and other financial institutions. However, retail traders (individuals) can also participate in the forex market through online forex brokers. In forex trading, the goal is to buy low and sell high (or sell high and buy low in the case of short positions), in order to make a profit.