The followings are the some main participants in the FX market
(1 ) Hedge funds. They control billions of dollars of equity and may borrow billion more, and thus may overwhelm intervention by central banks to support almost any currency, if the economic fundamentals are in the hedge funds’ favor.
(2) Investment management firms. They often use foreign exchange market to facilitate transaction in foreign securities.
(3) Retail FX brokers.
(4) Other. Non-bank foreign exchange companies.
It is estimated that in the UK, 14% of currency transfers/payments are made via Foreign exchange companies. These companies’ selling point is usually that they will offer from Money Transfer/Remittance Companies in that they generally offer higher-value services.
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