This article is taken from the Forex Journal (March 2009 issue).
The author, David Waring, is the founder and community host of InformedTrades.com; an online community devoted to helping traders of all experience levels find the quickest path to profitability. His site does this by organizing the best free video and text trading education and news from around the Internet, into one easy to navigate resource.
Before starting InformedTrades, David gained valuable experience in the foreign exchange market as a Managing Director at Forex Capital Markets, LLC. (FXCM), one of the largest retail Forex trading firms in the world.
During his 7 years at FXCM, David held multiple positions, helping grow the firm from 15 employees and 2,000 clients, to the over 600 employees and 120,000 clients that the firm has today. David also oversaw FXCM’s managed funds division, and the launch of its Sentiment Managed Funds Product, which had over $20 million in assets and returned an impressive 32% during the first 11 months of live trading that David oversaw.
- The Forex market is an over-the-counter market, so there is no centralized exchange where trades are made. David Waring discusses how today’s retail investor/trader can use the Internet to compete with the big banks in the currency trade.
In this article, we are going to discuss the structure of the Forex market so we can learn who exactly controls the market and how the Forex broker and individual trader fit into this picture.
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