Fast Travel is available from the world map. On the map, dark markers indicate locations you know about but have not yet visited, while light markers indicate locations you have discovered. Select any light marker to travel there.
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You cannot fast travel from interiors or while in combat. While fast travelling, time moves forward depending on how far you go. If you have a horse, it will fast travel with you. If you fast travel to a city, your horse will be placed in the nearest stable.
The name of this method of transportation can be misleading as within the game, the time taken to reach the destination is not any shorter, it only appears instantaneous to the player.