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Unlike other financial markets, foreign exchange is completely decentralized. It has no single location, and currency is not dealt across a trading floor. Instead, trading is managed via telephone, telex and computer links between dealers in various locations and, often, different continents, which makes this market ideal for Internet implementation. Online trading reduces transaction costs, tightens spreads and improves market transparency.
According to a survey conducted by Greenwich Associates online foreign exchange trading is predicted to grow to about 55% of total FX trading.
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Overview
