Forex is a Monopoly, controlled by a small ‘cartel’ of big banks. That’s changing, and changing fast – as a number of non-bank FX participants are replacing the traditional ‘big 12.’ As we explain in Splitting Pennies – the fact remains, if a small group of companies controlled and manipulated the price of any other market, they’d be shut down faster than you can say “Anti-Trust.”
A short list of things that are unique about FX: