The forex market is decentralized, but it is still regulated by banks. Four major banks, Deutsche Bank, JP Morgan Chase, UBS, Citigroup, and HSBC, participate in day-to-day forex trading and more than 50% of the daily trading volume is done through these banks. Interbank forex is where the highest single volumes of forex trading take place. Banks engage in forex to balance their equity or their inventories according to market status and market futures. They engage in a deal with another bank, deals quite easily crossing the millions threshold to offset their positions according to the market. There are two platforms which interbank traders use, Reuters Dealing and EBS.

Banks get the money for trading from their customers. The assets of a bank are used by it for forex. But banks are also platforms where investors give forex trade orders. These orders are known as bank orders forex where it is a bank who acts as the medium for forex trading. Investors who prefer a bank as trading platforms instead of online trading platforms often have a huge sum at their disposal, a sum which they deem too large for open forex trading, ranging above $1 million mark.

Bank orders forex is a three-step process. Every bank has a separate group known as its Foreign Exchange Sales and Trading Department to deal with FX trading. And each group further has a customer service desk or in official words a sales and trading desk which answers to the interested customer. It is this sales desk which takes an order from a customer, gets a requisite quote from a representative trader and relays the same to the customer awaiting his/her further decisions of regarding it.

Bank orders forex refers to both intrabank orders and forex through banks. While the former is a market where participants are only banks, the latter is where a bank acts as a medium through which a forex trade is being made. When a bank oversees and runs a forex order, it is the bank who acts as the participant in place of a customer. Thus for any individual pondering on a bank order forex, it is advisable to understand all that it refers and conjures before investing in it.