No, forex trading is conducted from within a brokerage account, which provides you a certain degree of leverage (margin), along with access to a trading platform and a range of currency pairs. You should always choose trusted forex brokers that hold proper regulatory licenses to avoid becoming a victim of scams. Pro tip: For cryptocurrency users looking at forex trading with stablecoins, a decentralized exchange is also not a suitable option for forex. Spreads can be significantly wider, and there is no mechanism to ensure the best execution even if zero spreads are advertised -- which could result in extreme slippage.