Forex
Market Introduction
Money or currency
is the ultimate commodity. Every time a company or government buys or
sells products and services in a foreign country, they are subject to
a foreign currency trade; the exchanging of one currency for another.
Many individuals and organizations also trade currencies for speculative
purposes. With all of these currency transactions going on daily, it
is no wonder that the foreign currency exchange market, also known as
"forex" or "fx" market,
has such a huge global reach and has become extremely popular among traders.
Trillions of dollars
of foreign exchange activity takes place every day. From 1997 to the
end of 2000, daily forex trading volume surged from US$5 billion to
US$1.5 trillion. The forex market continues to grow at a phenomenal
rate.
Before the internet
came along, only corporations and wealthy individuals could trade currencies
in the forex market through the use of the proprietary trading systems
of banks. These systems required as much as US$1 million to open an
account. Thanks to advancements in online technology, today investors
with only a few thousand dollars can have access to the forex market
24 hours a day.
For traders, forex
trading provides an alternative to stock market trading. While there
are thousands of stocks to choose from, there are only a few major currencies
to trade (the Dollar, Yen, British Pound, Swiss Franc, and the Euro
are the most popular). Forex trading also provides a lot more leverage*
than stock trading, and the minimum investment to get started is a lot
lower. Add to that the ability to choose flexible trading hours (forex
trading goes on 24 hours a day) and you have the reason why so many
stock traders have flocked to day trade currencies. To give the forex
market a try, click on the link below
To
sign up for a live 30-day free demo of our forex trading software, click
on this link...
* High leverage and low margin can magnify both profits and losses. |
