INTRODUCTION TO FOREIGN-EXCHANGE MARKET

Forex Strategists

Foreign-exchange market or Forex, as most of you know, is a global decentralized marketplace to exchange currencies for global trade. The daily turnover in Forex is 4+ trillion dollars, meaning, 4 trillion dollars worth of currencies are exchanged hands every single day! If you want to imagine the amount of money that is, take in consideration the fact that the richest person in the world, Mr. Slim, is worth 73 Billion USD and 4 trillion is 54.7 times Mr. Slim.

Major Participants

Banks (Inter-bank Market)

Top 10 currency traders
% of overall volume, May 2013
Rank Name Market share
1 GermanyDeutsche Bank 15.18%
2 United StatesCiti 14.90%
3 United KingdomBarclays Investment Bank 10.24%
4 SwitzerlandUBS AG 10.11%
5 United KingdomHSBC 6.93%
6 United StatesJPMorgan 6.07%
7 United KingdomRoyal Bank of Scotland 5.62%
8 SwitzerlandCredit Suisse 3.70%
9 United StatesMorgan Stanley 3.15%
10 United StatesBank of America Merrill Lynch 3.08%

The Interbank Market is the top level in…

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