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Foreign exchange market aka the forex market has emanated as an esteemed commerce in the near past. Currencies need to be swapped while carrying on with foreign trade and hence the use of forex market. An unparalleled prospect of forex trading is it has no central place to carry out barter. It is carried out electronically over-the-counter (OTC).

Market is open all day round and is active for five and a half days a week. London, Tokyo, New York is some of the vital financial centres. All transactions sustain via computer networks between traders and the world. Read on to get knowledge on online transaction of forex.

Traders of forex:

  • Banks

The interbank market trades the greater bulk of the currency. Interbank market is the forum where small to large sizes of banks trade money through online networks.

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  • Central banks

Central banks of the countries also play an important role. It can influence currency rates by open market operations (OMOs) and its interest rate policies. It also enhances the competitiveness of economy of a nation.

  • Corporations

Firms and corporations employed in import export business have to carry on forex transactions to pay for the items.

  • Individual investors

Lastly the individual investors are engaged in forex transactions as they are profit motivated.

Forex trading is done through ECN which is an automatic system that links small market participants with its liquidity providers. JAFX ECN is one such ECN broker that allows you to trade with forty seven pairs. 0.01 micro lot trading is accessible here. It allows you to trade with other goods as gold. Offering strategies such as hedging, scalping, JAFX offers countless number of MetaTrade 4 demo accounts to its clients. In this demo set up, clients do not need to register for a standard account or make a deposit.

JAFX founded by John Anthony is available as mobile app too. Mobile app is downloadable for both iOs and android and it comes with the total set of exchanging orders. But the client would need a PC for availing the facilities of ‘Pending’ and ‘Stop-Order’ strategies. provides a better insight on this forex true ECN broker.