Where my Forex orders are executed and Who manages the FX market?
There is no Central for the Forex market
There is no central of Forex market, as in the Forex market is not controlled by a centralized exchange unlike stock and futures markets.
Unlike the other financial markets, Forex is known to be the fairest financial market in the world, because of its enormous scale and the reason above.
The total trading volume of Forex exceeds 5 trillion USD a day.
You can see how difficult it is to control such a huge financial market.
Forex is Spot OTC(Over the Counter)
The Forex market is an Over the Counter (OTC) market as transactions are made via the Internet from many different locations 24 hours a day, 5 days a week.
You may wonder where your orders are executed, as in who is counter-ordering your trades.
Forex market is run by many entities such as mega-banks, and these entities creates the flow of the world’s money.
A Forex broker such as FXPro will be a middleman between its traders and the mega-banks, and send all orders of traders to the mega-banks.
So your orders are actually executed by the mega-banks connected with FXPro.
But normally you cannot find out which bank has taken care of your trades as FXPro has got multiple bank connected.
About FXPro’s liquidity providers and how they take care of investors accounts and trades, please visit the Official Website.