Hello and Welcome to MyForexBusiness.com -- this site aims to share useful information, reports, and guides to help you in forex management and forex trading.
Why Forex trading? This is one of the most common questions we get from people. As you know, there are hundreds of trading options, so why foreign currencies? How is forex trading better than say, minerals like Iron Ore or Uranium Ore, or commodities like steel or copper futures?
Forex investment is a wonderful market:
- Huge trading volume compared to all other markets (global market size is over 3 trillion US dollars)
- Extreme liquidity or the capability of either buying or selling the currency without impacting the market price. If you tried to sell even $100 million worth of company stock of even the largest company, the price will fall, but not in forex. The market is huge.
- It has the largest number and variety of traders. Successful traders with different styles exist.
- Always Live: Long trading hours (24 hours each day, except during weekends)
- Trading locations are almost everywhere, not just in the United States or major cities of Europe.
The global Forex market has an average turnover in traditional foreign exchange market of over $2.5 trillion daily, according to the Triennial Central Bank Survey of the BIS (Bank for International Settlements). Following is the average Forex trading size for the last 17 years:
- $500 billion (April 1989)
- $750 billion (April 1992)
- $1.18 trillion (April 1995)
- $1.48 trillion (April 1998)
- $1.16 trillion (April 2001)
- $1.88 trillion (April 2004)
- $3.00 trillion+ (April 2008)
Do you see how big the Forex tarding market size is, and how it is increasing? It is estimated to reach as 5 trillion dollars within the next 5-10 years, if the number of traders around the world will continue to increase, which is happening for sure.
In fact, everyone including you has this wonderful opportunity to learn forex trading (at very low costs) and learn the methods to gain forex trading profits, especially since Forex trading marketing is now on its automation process.
Get started today with our: Forex Trading Strategies Guide
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