Foreign Exchange means Foreign Exchange. FOREX refers to the world currency market. FOREX brokers and banks manage the market, go here.
Before 1996, forex was available only to individuals with high net worth, companies, and financial institutions. USD10,000,000 must be invested as an initial deposit to gain access to the market. Because investors cannot invest, the Forex market isn’t very popular. Forex Market’s daily volume is also less at USD500 Million per hour.
Bill Clinton opens the Forex to public trade in 1996. As the Forex market has grown, so too has its trading volume. Forex is now the world’s largest trading market. Forex trading volume exceeds all stock market volumes in the world by USD 3 trillion a day. Also, it is between four and five times more than the US Futures marketplace volume.
FOREX Markets are so influential that they can lower an economy’s rating in just a few seconds. In 1997, the currency crisis was felt in many Asian nations, including South Korea (Thailand and Indonesia), Singapore Malaysia and Singapore. George Soros has been one of the biggest players that have benefited more than 1Billion USD in less than a blink.
Minimum capital for opening an account has increased as a result of the decrease in Forex broker competition via internet. Start trading with USD 250 as an initial capital.
Forex trading is possible 24 hours aday, 5 days aweek. You can trade forex in either bull or bear markets. With the proper knowledge, you can profit in either direction. As opposed to the stock market there are no commissions in forex trading. Forex is a market that allows even traders with limited capital to make money.