As everyone would be aware of, forex is a OTC (over-the-counter) market with no centralized body governing the settlement process. Even though it has indirectly resulted in tremendous growth, still, the market is plagued with scams. Every year several brokers close shop or swindle hard earned money of traders. Will it not be nice if forex is traded in a centralized exchange similar to stock market. This will guarantee settlement process and nullify scams. Regulatory bodies have little control over forex brokers. Before they find out a mishap and fine the broker, so many would have lost invaluable savings of theirs. If the execution is routed through an exchange then it is possible to trace orders and be rest assured that payment issues will not arise. There are some countries like India (only Indian Rupee pairs are traded presently) which have initiated the same. What is your thought about it?