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The development of Forex at a rapid pace contributes to the emergence of new participants in trading.
They can be divided into several groups by their importance:
The first and, perhaps, the most important are central and commercial banks. They account for the lion’s share of all currency transactions in the interbank market. Other bidders in these banks hold their accounts through which they carry out financial operations. As regulators of Forex, the central banks manage gold and foreign exchange reserves and carry out foreign exchange interventions. Thus, the central bank and the treasury influence demand by increasing or decreasing the supply of national and foreign monetary units.
Quite significant representatives of the first group are FED (Federal Reserve System of the United States), European Bank, as well as the Central Bank of Germany, UK, Japan. It is the stabilization of national currency rates and replenishment of their reserves, rather than making profit, that is the main task of the first group. By injecting significant funds, the Central Bank has a very significant impact on the market situation and a tangible change in exchange rates.
Commercial banks represent a significant number of counterparties that are intermediaries in the financial operations of their customers. The purpose of these counterparties is to generate profit from market transactions and customer fees and commissions. Deutsche Bank, Citibank, Standard Bank and Union Bank of Switzerland are the largest representatives of commercial banks.
Investment funds and companies belong to the second group of participants. Placing funds in securities of corporations and governments of different countries is their main activity. International corporations, in turn, invest these funds in production abroad. For normal financial activity, it is necessary to constantly exchange one type of currency for another.