Unlike stocks that trade mainly on centralized exchanges like the NYSE or NASDAQ, FX trading occurs in hubs worldwide. Participants can deal directly with each other through over-the-counter (OTC) trades or enter a huge network of banks and brokers in the interbank market. 

Supervising this international currency trade can be tricky due to the different regulations of each currency. While many jurisdictions do have agencies that supervise trading within the domestic market, their international reach is limited. While You may need to acquire a license or go through an accredited broker for your FX trading, this doesn’t stop traders from simply using other, less regulated markets for their activities.

Four major zones make up the most of the FX trading volume: New York, London, Tokyo, and Sydney. As the FX market has no central point, you should be able to find a brokerage that can help you trade FX across the world.

There’s a wide variety of options available for online brokerage services that are typically free. You won’t pay a direct commission, but forex brokers will maintain a spread on the price they offer and the actual market price. If you’re starting out, choose a brokerage that lets you trade micro-lots. We’ll cover this point further on, but it’s by far the most accessible way for you to start trading forex.