I heard that the largest players in the forex market are banks.How do they trade currencies?They use a broker? -

Major banks operating in currency trading have bokers and dealers of their own who are registered with government bodies. Those major banks are dealers or brokers trading and most of these banks do not do transaction or business between the public bu directly deal with general public and deal with exchangs directly. Banks not having their own brokers or dealers do their transactions through other reputes brokrage firms or banks engaged in this business. The largest investment banking firms constitute the inter-bank market. Most of the trading is done for the bank’s account though some are done on behalf of customers. In the inter-bank market, the difference between the bid and ask prices or spreads, is small if not nonexistent. Investment banking firms are in the position to guarantee numerous transactions for large amounts, hence they can ask for smaller spreads. The advantage of being in the inter-bank market is that players within this level know the spread of other players—information which is unavailable to those with lower levels of access. Smaller investment banks also belong to the inter-bank market but their spreads are often wider. Most major banks have their own broker/dealer operations and are properly registered with the appropriate governing agencies. Therefore they are the broker/dealer doing the transactions and most do not do business with the general public but directly with the exchanges or their designated floor broker. Those banks that do not have their own brokerage opeation can and do use other brokerage firms for their order executions or they trade directly with other banks If you want to see exactly how to get into trading forex, you should take a look at the free beginners guide you can download at http://www.forexfromscratch.com This guide is a quot;step-by-stepquot; report which explains everything you need to know about getting into forex trading. They have registerd with government bodies. To receive %100 accurate and free FOREX buy/sell signals join our group: http://finance.groups.yahoo.com/group/fr... See our statement as proof.