Is forex market controlled by someone?
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As far as I know, each country has their own rules and regulation for forex trading in it. So, I want to know, there is any organization, agency or authority which makes rules and regulation for world-wide forex trading.
Regarding "Is forex market controlled by someone"?
There is no individual regulatory body or exchange that oversees the forex market - remember its an OTC market and there is no centralized management of transactions like a stock exchange. Also it is too huge, with a trading volume of trillions of dollars. Yes individual countries have rules and regulations that govern the country's foreign exchange systems and procedures and currency management - however no central bank or country exercises any overall control over the forex market.
like a single person controlling the market in a sense that he can manipulate it? I'd say NO! but you could say that there are a group of big players that can do some movement in the market, when it comes to regulations I guess each country has its our set of rules to try and control it, though there is no regulations for forex here in the philippines so its somewhat better for us traders (no taxes)
Thanks trader_ph for your detailed and informative reply.
i think the forex market is controled by us and by ask and bid and banks economy
Hi ginos1, Forex market is not controlled by traders. If you are a broker then you can play some role to control it.
I suppose that Forex is not controlled by traders. From the one hand it is controlled by brokers and from the other hand by some "special" people who decide where the price will go.
The Forex spot\cash market is the underlyer to the futures\options market, it is where those contracts are settled.
It is not controlled by brokers or retail traders.
The Forex spot\cash market is the underlyer to the futures\options market, it is where those contracts are settled. It is not controlled by brokers or retail traders.
It is true that no one controls the Forex market but it is largely dependent on the High Volume orders which are from the leading banks or the big time traders is what makes them major players.
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As far as I know, each country has their own rules and regulation for forex trading in it. So, I want to know, there is any organization, agency or authority which makes rules and regulation for world-wide forex trading.