Oil forex trading is a means by which people from all over the world can trade oil futures contracts at the comfort of their own homes. It utilizes the worldwide international over-the-counter foreign exchange market to facilitate the trading using currencies from different countries. It is based on various financial centers from around the world that allows different of buyers and sellers to trade oil futures contracts at any point of the day, except during weekends.
In oil forex trading, the foreign exchange market settles the relative value of each currency. Oil forex trading ensures international trade and investment by making it possible for people from one country that uses a particular currency make a transaction with people from another country with a different currency. The result of this is a very liquid flow of financial capital globally due to the involvement of multiple countries in these trades.