Tag: exchange rate malaysia ringgit to philippine peso

What is Forex trading?

Forex means Foreign Exchange. FOREX means Foreign Exchange. This currency is used by FOREX dealers and banks around the world to purchase and trade foreign currencies, go here.

It was only 1996 that the Forex market became open to the public. For entry to the Forex market you need US$10,000,000. It is not an attractive investment, as you can withdraw your capital at any point. A daily trading volume of less than US500,000,000 was recorded.

Bill Clinton, an ex-president of America, opened the Forex market to the public first time in 1996. Over the past decade, forex brokers have grown to be like mushrooms. The trading volume also has increased. Forex is the biggest daily trading platform. It has a daily trading volume of more than USD3 trillion. This amount is far greater than all stock exchange volumes in the world. It is approximately 4-5 times the US Futures Market volume.

FOREX markets are so crucial that they can bring down any country’s economy. Many Asian countries experienced currency crises, including South Korea, Thailand. Indonesia. Singapore. Malaysia. George Soros is one major player that made more than US$1 million during the crisis.

A decrease in the competition among Forex brokers online has resulted in a lower minimum initial capital requirement to open an Account. You can open an account with USD250 capital to trade forex.

Forex markets are available 24 hours per day, non-stop for 5 consecutive calendar days. One of the two methods to trade Forex is available. This can happen during either the up- or fall of market prices. You can make money with both these options if your are willing to learn. Forex trading doesn’t require you to pay commissions like stock trading. Forex trading with high leverage allows you to trade small amounts.