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The market
of foreign exchange trading operates in a manner similar to the way the
NASDAQ market in the United States operates, and thus it is also referred to as an 'over the
counter' or OTC market.
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Be wary of firms
in foreign exchange trading that claim that you can or should trade in the
"interbank market," or that they will do so on your behalf. |
Unregulated,
fraudulent firms in foreign exchange trading often tell retail customers that
their funds are traded in the "interbank market," where good prices can be obtained. |
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Firms
that trade currencies in the interbank market, however, are most likely to be banks,
investment banks and large corporations, since the term "interbank market" in foreign
exchange trading refers simply to a loose network of currency transactions negotiated
between financial institutions and other large companies.
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