Forex is an acronym for Foreign Exchange. FOREX can be abbreviated as Foreign Exchange, get more information here.
Prior to 1996, Forex market access was limited to a few people. They include investment banks, bank branches, high-net-worth people, and conglomerates. The market will require USD10,000,000. The Forex market is not popular among regular investors. Forex traders are not permitted or required to invest. Also, daily trading volumes were below USD500,000,000
It was approved by Bill Clinton. Their trading volume has been steadily rising over the years, much like mushrooms. Forex, which trades in USD3 trillion per day, is the largest market. This amount is higher than the total global stock exchange volume. The US Futures market volume is also higher at 4-5x.
FOREX can have a devastating effect on a country’s economic health. Many countries of Asia like South Korea and Thailand are experiencing currency crises. The 1997 currency crisis in Indonesia, Singapore, Malaysia, and Singapore was experienced by Singapore, Malaysia, Indonesia, and Malaysia. George Soros was one of the prominent figures that enjoyed over USD1 Billion during that crisis.
Increased competition among Forex brokers through the Internet has led to a reduction in minimum capital requirements for opening an account. For opening an account you need to have USD250 of capital. With this capital, you can trade currencies.
Forex markets are open 24 hours per year, non-stop. Forex trading cannot be performed when there’s a down or up market. You can make both profitable methods if it’s done correctly. No commissions are required for Forex trading. You can trade forex with high leverage. This allows you to get access to the market without investing a lot of capital.