Trading in foreign exchange has its genesis in 1971 when exchange rates altered from fixed to floating. This led to a scenario where trade and market determined fluctuations. Forex the acronym of the term Foreign Exchange is vested with powers to assist international trade and investment by conceding businesses across the world to convert into the currency of their choice for facilitating easy and credible business. But the incredible fact is that though Forex was conceived for this purpose it accounts for just a mere 5% of total transactions. The major chunk of Forex’s transactions revolves round the more profitable business of speculation for profits. Today with Forex online a new additional chapter has been scripted in the history of foreign trade.
In our modern world every business is fraught with uncertainty and loss but trading in forex market is a more viable and easy profit minting investment than any other financial investments like the vague share market or the commotion fraught real estate market. Forex market garners the highest liquidity with a business $ 3.2 trillion in international currencies every day. Transactions take place from all over the world via phone or internet continuously from Sunday night around 21:15 GMT to Friday afternoon around 22:00 GMT.
All that is required to foray into the forex market is a sharp financial acumen of international currencies and a critical analysis of the economic scenario. Today with forex online forex has become accessible to everyone in every corner of the world. Before the advent of the forex online Forex trading was the sole prerogative of banks, multinational companies and multi millionaires. Today everyone with a desire to make a quick buck and with little resources and financial acumen can enter this money market and watch their profits double.