In any place, whether it is the main foreign exchange market or not, ordinary petty cash transactions and cheque cashing are almost monopolized by banks. The main business of the bank's foreign exchange department is to convert customers' assets and liabilities in commercial and financial transactions from one currency to another, which can be handled through spot transactions or forward transactions. As a large number of banks are engaged in foreign exchange trading, foreign exchange trading is becoming more and more popular.
Extended data:
Some independent traders with certain strength and credibility in the foreign exchange market constantly quote the buying and selling price of currency to investors (that is, two-way quotation) and accept the buying and selling requirements of investors at this price except legal holidays.
The platform can hold its own funds to trade with investors. When the market transactions are sparse, buyers and sellers do not need to wait for the counterparty to appear, as long as there is a "counterparty" to undertake the transaction, they can reach a transaction. This will form an uninterrupted business and maintain the liquidity of the market. The more formal foreign exchange trading platforms in the market, such as GKFXGATC, are supervised by authoritative organizations, which can ensure the safety of users' funds.
In addition, there is another kind of platform in the market, that is, professional trading platform, such as Global Capital GFPC, which usually wins with low-cost spreads and mainly serves customers with professional traders.