Structure and composition of FOREX market participants
Folks, explain the structure - there is a FOREX exchange, by the way where is it headquartered?
There are major participants - the major banks and central banks of the states. How did the main participants get admission to the exchange? What are the requirements for accreditation?
Then market makers - it is not clear who they are, who they consist of, what is the core of their operations and what legislation regulates their activity.
Further forex-dealers - do forex dealers have direct access to the FOREX market or this output Forex-dealers have only through the banks, accredited by FOREX, which are the main participants of this exchange.
Dealing centres...
Forex brokers - similarly, how do they get direct access to the exchange - as they all claim, if its main participants are large banks and central banks? So a forex broker has access to the exchange either through a forex dealer or through a bank accredited by the FOREX exchange.
It's just that brokers are not clear at all. Where is their place in the structure of the FOREX market.
Is there a separate FOREX site or is FOREX an aggregate of the world financial markets, let us assume that MICEX is not a FOREX? It has specific conditions for brokers to join through accredited banks. Are these banks the main participants of the FOREX exchange, or these accredited VVD, banks are Forex dealers - is not clear.
Help, you need a sensible book about the structure of the market FOREX, describing the main functions of the market, the composition of its participants, the rules of entry / accreditation of each participant and the legislation governing their work in the market FOREX - I will be very grateful.
I started to study programming, but then I understood that I know nothing about FOREX and I can't go further without the fundamental understanding of the subject.
Forex is the interbank foreign exchange market and does not have a single centre.
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All your questions are answered here, read everything carefully ..... https://www.mql5.com/ru/forum/12342
Nah, that's a little off. This is the basics of trading. I am interested in the structure of the market. Who is who is responsible for what and at what distance from the direct access to quotes on the FOREX stock exchange, the same MMVB as an example.
I cannot understand who a market maker is, what is the difference between a forex dealer and a dealing centre, and what is the role of a broker, even if local, on some exchange, say the MICEX - right? I see a company that says it is a broker, but does not say which exchange the broker is, so I cannot identify the broker from the lists of brokers (intermediaries) accredited by this exchange. But again, does the broker have direct access to such an exchange? Or the broker provides access via participating banks, i.e. accredited by the exchange or Forex dealers, also accredited by the exchange, or the Forex dealer is a link between a participating bank and a broker? This is a dark forest.
Have you read the link? - I am telling you for the second time, it says it all. You have a different programme - to play dumb.)
Forex is an off-exchange inter-bank currency exchange market and does not have a single centre.
That is why it is not clear - there are too many participants who all call themselves differently and it is not clear where the legs are growing from. I think there is still a structure of participants, I am interested in their hierarchy in obtaining quotes and the role of such participants - what they are needed for, how they obtain their status and how their status should be confirmed. So, a company says 'I am a broker' - we are registered offshore. And hello. And what stock exchange you broker and where is the site of this exchange to be able to make a request if such a broker registered offshore there that is certified by your exchange? That's me for example.
All in all, it's not clear who is who. We need to get to the bottom of this.
Have you read the link? - I am telling you for the second time, it says it all. You have a different programme - to play dumb)))
"An NDD broker always provides advantages such as trading in the real market, which is completely open ("clean") to the system participants and a high speed of order execution. "
There is something interesting in the article, of course, but it does not answer all questions. Again, the sense of dealing with forex dealers, if all is more profitable to trade on the FOREX through NDD broker? Why do we need Forex dealers (dealing centres) and other types of brokers, if there are NDD/ECN brokers?
"Successful clientsof a DD broker are more likely to be tracked and haverequoting(which means delaying quotes until your order is confirmed) applied to them."
- I've had that happen to me. Here's how to contact an NDD broker? So that everything is without a scam? - But this is the least relevant to the topic.
"An NDD broker always provides advantages such as trading in the real market, which is completely open ("clean") to system participants and high speed of order execution. "
There is something interesting in the article, of course, but it does not answer all questions. Again, the sense of dealing with forex-dealers if it is more profitable to trade on FOREX through NDD broker? That's why do we need forex dealers (dealing centres) and other types of brokers?
"Successful clientsof a DD broker are more likely to be tracked and haverequoting(which means delaying quotes until your order is confirmed) applied to them."
- I've had that happen to me. Here's how to contact an NDD broker? So that everything is without a scam? - But that's the least relevant to the topic.
Find Maitreyd's video on youtube, and listen to what he says, and watch several videos, not just one. Whoever says what he says, he's describing classic forex, which everyone should know about, who wants to make money trading, not selling EAs and indicators.
At the phrase "in the past, when there were fewer sellers than buyers, in a live market (before the advent of market makers) prices would go up..." - off. This is not serious.
If there is demand for a particular country's currency (buyers more than sellers), the central bank will print such currency additionally (and sometimes there is no need to print it in the treasury sometimes it already collects dust) and sell it for foreign currency!!! to prevent its currency from strengthening more than it needs to for the country's economy. Yes, any central bank dreams of having more buyers of its own currency than sellers, and is ready to satisfy such a buyer with any amount - just buy. The question is, where can you get more buyers for your own currency? Any central bank will be eager to sell their own currency at any volume. And if you start selling your own currency, the central bank will buy it back with the same amount of currency from you, balancing the value of your currency in the required range. I wasn't born yesterday.
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Folks, explain the structure - there is a FOREX exchange, by the way where is it headquartered?
There are major participants - the major banks and central banks of the states. How did the main participants get admission to the exchange? What are the requirements for accreditation?
Then market makers - it is not clear who they are, who they consist of, what is the core of their operations and what legislation regulates their activity.
Further forex-dealers - do forex dealers have direct access to the FOREX market or this output Forex-dealers have only through the banks, accredited by FOREX, which are the main participants of this exchange.
Dealing centres...
Forex brokers - similarly, how do they get direct access to the exchange - as they all claim, if its main participants are large banks and central banks? So a forex broker has access to the exchange either through a forex dealer or through a bank accredited by the FOREX exchange.
It's just that brokers are not clear at all. Where is their place in the structure of the FOREX market.
Is there a separate FOREX site or is FOREX an aggregate of the world financial markets, let us say MICEX, rather than FOREX? It has specific conditions for brokers to join through accredited banks. Are these banks the main participants of the FOREX exchange, or these accredited VVD, banks are Forex dealers - is not clear.
Help, you need a sensible book about the structure of the market FOREX, describing the main functions of the market, the composition of its participants, the rules of entry / accreditation of each participant and the legislation governing their work in the market FOREX - I will be very grateful.
I started to study programming, but then I realized that I know nothing about FOREX and I can't go further without the fundamental understanding of the subject.
So far I found only this official information - NAFD SITE, MOEX SITE