Major Banks

Major banks are also collectively referred to as the Interbank Market and include UBS, Deutsche Bank, JPMorgan Chase, Citibank and Goldman Sachs, among other global financial firms. These banks daily take on an enormous amount of forex transactions both for themselves and for their customers, which include major corporations and government agencies, hedge funds and wealthy individuals.

Governments and Central Banks

These include the European Central Bank, the Federal Reserve and the Bank of England, among others. They are responsible for managing money supply and interest rates, and supervise their respective commercial banking systems.

Smaller Banks, Large Commercial Companies, Hedge Funds

Smaller banks, large commercial companies and hedge funds often participate in the FX market with the purpose of managing their operations, since foreign exchange is essential to international commerce.

Forex Brokers and Retail ECNs

FX brokers and retail ECNs act as the intermediary party between buyers and sellers, enabling retail traders to gain access to the liquidity providers.

Did you know?

Currency trading and exchange are no new practices. In fact, money-changing people can be traced back to the Biblical times. Using city-stalls, they would help others change money and take a commission or charge a fee for their services.

Word of the day
"Index" - An imaginary portfolio of securities that are reflective of the relative health of a market or sector of the economy.
Pro Tip

Pips are important because they determine your profits or losses.

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