Unlike a stock market , where all participants have access to the same prices, the foreign exchange market is divided into levels of access. At the top is the inter-bank market , which is made up of the largest investment banking firms. … According to Galati and Melvin, “Pension funds , insurance companies, mutual funds , and other institutional investors have played an increasingly important role in financial markets in general, and in FX markets in particular, …
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forex tips: Market participants
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