Forex trading deals with certain institutions that make it possible for deals in the business to push through. Without these institutions, it would be hard for currency investors to go through what they do, that is, buying and selling of currencies from all over the world. These institutions are known as important role players in the currency market.Banks play a major role in forex trading. The interbank market for currencies caters to both the majority of commercial turnovers in currency deals. Large amounts of speculative trading are made on a daily basis through banks. Major banks usually trade currencies in the billions of dollars daily on behalf of customers. In the past, foreign exchange brokers did the majority of currency trading facilitating inter-bank transactions and matching anonymous counterparts in exchange for small fees. Today, the majority of the trading going on daily has been effectively moved to more efficient electronic systems.National central banks also play an important role in the daily activity of foreign exchange markets. It is the central banks that have the power to control the money supply, inflation, as well as interest rates in a certain country. The central banks often have official or unofficial target rates… Read full this story
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