| Forex trading is quite rapidly becoming the most | | | | multi-national corporations. These are important |
| lucrative business across the globe; Forex (foreign | | | | market share holders and usually exchange foreign |
| currency exchange) market is in fact the largest | | | | currency for goods or services. Although the traded |
| trading market in the world today. | | | | amount is small in comparison with the amount traded |
| This is a multi-trillion dollar industry; the recent | | | | by large investment banks, but still exchanges by the |
| unhindered growth in the forex industry clearly shows | | | | multinational companies manage to have short term |
| that it is unaffected by the ongoing global credit crisis. | | | | impact in the forex market. We have other entities in |
| Average daily turnover in standard foreign exchange | | | | forex market like central banks, hedge funds, |
| market transactions totaled a record $3.2 trillion in | | | | investment management funds and brokers. |
| April 2007. Overall turnover, including non-standard | | | | The financial institutes and other companies working |
| foreign exchange derivatives and products traded on | | | | in this field (more commonly known as foreign |
| exchanges, averaged nearly $3.6 trillion a day. | | | | exchange brokers) offer currency trade and |
| It is a bit complicated to measure the top operatives | | | | payments services to private individuals and |
| in this industry. The forex market has different levels | | | | companies worldwide. It is not easy to measure their |
| of access; the inter-bank market consisting of huge | | | | success, but few factors could be used in evaluating |
| investment banks is at the top. The top 5 global | | | | these forex companies; these factors are reputation, |
| foreign exchange banks by turnover as ranked by | | | | customer service and support, user friendliness of |
| euro money in 2008 are: Deutsche Bank with a | | | | the trading platform, execution and pip spreads etc. |
| market share of 21.70%; UBS with market share | | | | The development of online trading platforms has |
| 15.80%; Barclays Capital (9.12%); Citi (7.49%) and | | | | turned the individual customers segment of the forex |
| RBS (7.30%). The level of access is in fact based on | | | | business more competitive and has enabled the |
| the amount an entity is able to exchange in the | | | | evolution of non-bank service providers. |
| market. After investment banks comes large | | | | |