Many financial entities are linked together thorough electronic network that allow them to convert the currencies of several countries.
This is a basic difference between the forex and any other financial market.
The forex market is primary managed through the central bank, commercial bank, and the investment bank. This gives the traders an opportunity to mage huge trades through the internet.
Trade in Forex is done for five days a week, round the clock with constant access to dealers throughout the world. It is not centered on any physical location or any exchange, as it is with the stock or future markets.