World currency market is an off-stock market, which means that the market is supervised neither by central banks, nor by legal bodies. Foreign currency exchange market quotes are set by different financial organizations and are influenced by objective factors. Some of the global currency market players are:

Inter-bank trade currency market– the largest commercial banks are trading via Electronic Broker System. Commercial banks quotes are available only for the banks that are trading with them. This market sector is not open for retail traders.

Companies placing quotes online – different traders can have access to the forex trading market via these institutions. They are mostly cooperating with some EBS banks that enables them to have greater trading volumes. The larger is such company, the greater network of contacts it has.

Forex Trading Time

Currency rate market is the market that is operating in the time when the most important banking centers are having business hours. The currency rates market trade starts Monday mornings in Tokyo and is over Friday evenings in New York. According to GMT time the trade starts on Sunday evening and is over on Friday night and lasts for 5 days, 24 hours a day.

Not like most other markets trading prices and trade volumes are not broadcasted on forex. Therefore some traders may sometimes see different quotations at once in different market sectors. The price accuracy depends on the firm placing these quotes proximity to the real sector market.