The question of why forex brokers are needed can be asked. Forex Brokers are the “middleman.” They bring sellers and buyers together and offer them a product. In the case of forex trading the sellers are mostly banks, the buyers are traders and the product is currencies. In short, forex brokers enable people to trade currencies. People first started trading currencies in ancient times. They charged a fee for this service. Stalls and temples were used for this purpose. These people were known as money-changers. The 1970’s are considered to be the start of the modern currency trading era. It is the largest market in the world with an estimated trading volume of more than $5 trillion a day. Banks are the major players in the forex market. By and large they control the value of different currencies. Of course they are not alone. A great number of smaller financial institutions also play a role. the brokers offering these services are known as forex brokers. The forex market is the place where one currency is traded for another. In a nutshell, forex is the buying and selling of one currency for another.