18 Jul 09 Forex - where money exchanes hands ?

TheRightInfo asked:


Hi
I want to go into FOREX.
My question is : Where exactly money changes hands when a deal is closed ?
Does FOREX have any exchange like in the stock world ?

When I buy a coins couple like USD/EURO where
this purchase take place exactly
who sells me ?

When I stop a deal who buys from me ?

Please expalin in detail

Thanks
EC

Jacques