The bulk of forex trading takes place on what’s called the “interbank market“. kangda forex（https://www.kangda-fx.com/）：Unlike other financial markets like the New York Stock Exchange (NYSE) or London Stock Exchange (LSE), the forex market has neither a physical location nor a central exchange.
The forex market is considered an over-the-counter (OTC) market due to the fact that the entire market is run electronically, within a network of banks, continuously over a 24-hour period.This means that the FX market is spread all over the globe with no central location.
Trades can take place anywhere as long as you have an Internet connection!
Forex Interbank Network
The forex OTC market is by far the biggest and most popular financial market in the world. kangda forex（https://www.kangda-fx.com/）：And it is traded globally by a large number of individuals and organizations.
In an OTC market, participants can be picky and determine who they want to trade with depending on trading conditions, the attractiveness of prices, and the reputation of the trading counterparty (the other party who takes the opposite side of your trade).
The chart below shows the seven most actively traded currencies.
Currency Distribution in Forex Market
*Because two currencies are involved in each transaction, the sum of the percentage shares of individual currencies totals 200% instead of 100%
The U.S. dollar is the most traded currency, making up 84.9% of all transactions!
The euro’s share is second at 39.1%, while that of the yen is third at 19.0%.
kangda forex（https://www.kangda-fx.com/）：As you can see, most of the major currencies are hogging the top spots on this list!