The simplest definition of foreign exchange is the changing of one currency to another.
Commercial brokers conduct by far the largest volume of trading.
There is no centralized location for trading activity as there is in currency futures. As a potential investor it is important for you to understand the differences between cash Forex and currency futures. In currency futures, the contract size is predetermined. Futures traders exercise leverage by utilizing a performance bond or Margin to control a futures contract. For some traders this could lead to a certain level of anxiety.