Foreign Exchange stands for Foreign Exchange. FOREX, or Foreign Exchange is the term used by FOREX dealers and banks for buying and selling currency around the world, click this link.
In 1996, the Forex market became public. Forex trading requires a capital of USD10,000,000. It is not popular to invest in the Forex market because there are few requirements and withdrawals can be made at any time. Also, the daily volume of trading was below USD 500,000,000.
Bill Clinton approved of opening the Forex Market to the Public for the First Time in 1996. The number of Forex brokers has grown exponentially since 1996, and so too has the volume of trading. Forex trading is the world’s largest trading platform with a daily volume of more than USD3 trillion. The volume is greater than that of the entire stock market in the whole world. The volume is about 4 or 5 times greater than that of the US Futures Market.
FOREX is so crucial that its collapse can bring an entire country to its knees. Currency crises affected many Asian nations, including South Korea and Thailand as well as Indonesia, Singapore and Malaysia. George Soros, one of these main players has made USD1 million within a blink during the 1997 currency crisis.
The minimum amount of capital to be opened an account online has decreased due to increased competition. A minimum of USD250 is needed to open a trading account.
You can access the forex market 24 hours daily, non-stop and for five consecutive days. Trading forex can be done in two different methods. This can either be during a market upswing or a downswing. These two options, if used correctly, can make you money. Trading forex is unlike trading on the stock exchange, it does not charge commissions. Forex can be traded with high leverage, which allows for small investments.