The structure of the FOREX market

Pipruit: Well, it looks like I’m starting to understand some things, but one thing is still confusing me. Where is the center of FOREX, the major transaction point, control center or something? Who regulates and coordinates all this stuff? For example, I know that on stock market, the stock exchange is a central point, because all transactions are processed by the exchange itself and in line with strict exchange rules. Does FOREX have something like that?

Commander in Pips: You will be surprise with this, but my answer is “No”. FOREX is a over-the-counter market without any central regulator or processing center. It looks more like the global internet. All FOREX transactions are electronic and the market works in 24/5.5 mode. All FOREX participants are linked to each other.