Forex stands to represent Foreign Exchange. FOREX stands to Foreign Exchange. FOREX can be used by FOREX banks and traders worldwide to buy or sell foreign currency, go to my site.
The forex market was closed to the public in 1996. Forex market entry requires USD10,000,000. This is a low-risk investment that requires minimal effort. You can also withdraw it at any time. There was also a daily trading volume below USD500,000,000.
Bill Clinton was the ex-president and opened Forex trading to the general public in 1996. In the time since, Forex brokers have evolved like mushrooms. Over time, trading volume has grown. Forex is the leading daily trading platform. The daily trading volume exceeds USD3 Trillion. This figure is higher than that of all other stock exchanges around the globe. It can be 4-5 times as large as the US Futures Market Volume.
FOREX market has such an important role that it can instantaneously bring down a country’s economic performance. In 1997 many Asian countries like South Korea, Thailand or Indonesia experienced currency crisis. George Soros is one the most prominent players to have made more that USD1 million within a short time during this crisis.
An increasing number of Forex brokers has led to an increase in account opening requirements. For currency trading, an account can only be opened with USD250 of capital.
The forex market is available 24/7 and can also be used non-stop during 5 consecutive days. Two ways to forex trade are possible. The market can go up or down. If you have the ability to learn, these two options could help you earn money. Forex trading has no commissions unlike stock market trading. Forex trading is also possible with high leverage. You are able to invest very small amounts.