There are about 93 institutions regarded as active dealers in the United States foreign exchange market. As every Forex web trader knows very well, these dealers play an important role in the foreign exchange market. However, not all dealers play the same role. In fact, the foreign exchange activities of active dealers in the market vary in size, scope, and focus of their actions.
According to several Forex news sites, certain dealers are considered market makers, while others are not. Likewise, some participate in a variety of activities covering all aspects of foreign exchange trading, while others focus on certain areas, niches or currencies. Another way that foreign exchange dealers are different from one another is in the amount and the nature of the trading for their customers and their own accounts. Dealers may also use different trading systems; some may use Finexo while others prefer not to. The major dealers in the U.S. go head-to-head with one another. According to the Federal Reserve Bank of New York, only six of the major ten institutions in 1995 remained in the top 10 in 1998.