Oh what the internet can’t do… The entire world at the touch of a fingertip. If you are over the age of 40, then I am sure you remember when business was conducted point to point via a telephone and location was not a significant factor in the process. Luckily for us, times have changed. With the birth of centralized matching engines (CME) and global limit order book (GLOB) exchange style trading systems, location has become a factor. Foreign exchange trading offers you a serious way to invest through brokers such as XTrade. Foreign exchange trading is a global monster which sees over $5.3 trillion per day in trading volume dwarfing the equities and futures markets by a staggering scale.
The Global Platform
Anytime, anywhere… Almost! Most trading platforms like XTrade, allow you to trade from 140 countries. That means you can set up an account and begin your trading career, from almost anywhere in the world. Apart from that, you will be able to trade more than 51 Currency pairs.
Forex trading on platforms such a XTrade offer supply and demand for currencies which determine global exchange rates. Strong economies have strong currencies. When we trade the Forex markets, we are trading economies. Supply and demand for currency depends on the current and expected future health of a country’s economy. We can see and assess the demand and supply for a country’s currency through fundamental and technical analysis.
Your Profit Potential
Profit potential is what every investor wants to know about, and the currency market has plenty of amazing potential You can make money in the currency market whether currencies are going up or down. If you think a currency pair is going up, all you have to do is buy it. And if you think a currency pair is going down, all you have to do is sell it. It’s that simple. Learning to know when to buy and when to sell is where you must invest time as well as money. Work with charts and data analysis, learn to use tools such as as Xtrade App and read online financial news to be up to date with the markets. Furthermore, you will have to play the markets a number of weeks, which will build your trading history, and with that, valuable experience for more profitable trading.
Think that trading currency isnt profitable because of the high fees and commissions? Think again! With Forex trading, you will never have to pay a sales commission when you trade currencies. In the currency market, commissions don’t exist. You simply pay the difference between the bid and the ask prices, which you pay in the stock market as well on top of your commissions.
Banks are actually the largest traders, accounting for 24% of the daily turnover. That is a source of revenue for these banks that saw their profits decline after the sub-prime mortgage crisis. These investment companies continuously look for new ways to invest profitably. Currency trading is a perfect outlet for financial experts who have the quantitative skills to invest in complicated areas. If it’s good enough for banks, then its good enough for you to invest in!