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7 Winning Strategies For Trading Forex: Real and actionable techniques for profiting from the currency markets by Grace Cheng

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2: Spot Forex Market Structure

The spot forex market has always been a decentralised global network of buyers and sellers – meaning there is no physical central exchange that acts as a central clearing party. This is unlike, say, stocks or futures which traded through the exchanges such the London Stock Exchange or Chicago Mercantile Exchange.

Trading of currencies is done OTC (over-the-counter), in the sense that currency buyers and sellers from all over the world make a binding contract with each other after agreeing on a price – and this is not carried out through an exchange. This aspect of spot forex trading is different from forex futures trading which is carried out through an exchange. Forex traders carry out their activities by dealing ...

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