Broker is a kind of agent who carries out a trade on behalf of his client. Brokers mainly earn money in form of commissions or spread through selling and buying currencies for their clients. It should be kept in mind that brokers can only carry out trade for commissions or spread and they are not allowed to carry out trade on behalf of client through their own account. Brokers have to play the role of intermediaries in the Forex market among banks to bring sellers and buyers together for a commission paid by the initiator of trade or by both parties. Currently, four to five brokers are working on a global level. These brokers mainly operate through their affiliates, partners and subsidiaries, and affiliates in many countries.
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