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How Forex, Stocks & Crypto Markets Work

Financial markets explained in one comparison: what changes, and what doesn't, as you move between forex, stocks and crypto.

FluxoMarkets editorial desk. Updated 26 September 2026. Editorial policy

Globe surrounded by floating stock charts from different regions

Key takeaways

  • Forex is a decentralised dealer market; stocks trade on exchanges; crypto trades on many independent platforms.
  • Each market has different hours, typical volatility and leverage limits.
  • Protection for your money depends on the provider's regulation, not on the market itself.

Side by side

ForexStocksCrypto
Where it tradesInterbank dealers and electronic platforms; retail via brokersStock exchanges and regulated venuesCrypto exchanges, plus decentralised protocols
Hours24h, Sunday evening to Friday evening (New York time)Local sessions on weekdays24/7
Main price driversInterest rates, inflation, growth, risk moodCompany earnings, rates, sentimentDemand, liquidity, regulation, sentiment
Retail leverage (UK/EU CFDs)30:1 majors, 20:1 others5:1 shares, 20:1 major indices2:1
Typical costsSpread, commission, swapCommission, spread, FX conversionMaker/taker fees, spread, network fees
Financial district street with tall skyscrapers at dusk

Gold sits with forex

Spot gold is quoted as XAU/USD and trades nearly around the clock on weekdays like currencies, with a short daily break. It often reacts to the same forces: the US dollar and real interest rates.

Links between the markets

  • Interest rates move currencies directly, influence stock valuations, and have often affected crypto through risk appetite.
  • The US dollar matters to gold, commodities, US-listed shares for foreign investors, and dollar-quoted crypto.
  • Risk mood: in sell-offs, stocks and crypto often fall together while the dollar, yen and Swiss franc strengthen.
Wind turbines and oil refinery silhouettes merged with a stock chart

Where to go next

Forex guide · Stock indices · What moves Bitcoin · Forex market hours

Common questions

Which market is most liquid?

The foreign exchange market has the highest turnover of any financial market, according to the Bank for International Settlements' surveys.

Do all three markets move together?

Not consistently. Correlations change over time, and assuming they are stable is a common mistake.

Sources

  • Bank for International Settlements, Triennial Survey
  • FCA and ESMA CFD leverage limits

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