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The millennial earners are actively seeking ways to diversify their income streams- be it with the help of a side hustle or by expanding their investment portfolio. Online trading of shares, as well as asset classes like Forex, has been gaining traction ever since mobile devices and ample internet became easily available.
COVID-19 brought the world to a standstill. Cities around the globe were completely locked down, essential services organizations experienced pressure like never before while all others struggled to keep themselves afloat. Work from home became the only way to run businesses that could be run through a remote set up. An unfortunate consequence was that customer trust and loyalty became largely irrelevant. Under the circumstances, onboarding new customers was a challenge every business seemed to have faced, but among the worst-hit were financial services products in general and forex trading houses in particular.
Stock markets, futures markets, and economic activity, in general, have run aground since the devastating (COVID-19) outbreak. Industrial activity, from production to supply chain and sales, is suffering without people resources and resource movement. Huge corporations and companies, like Apple are forced to shut their factories based in China and supply chains are disrupted. The expectations are that most of the economies worldwide are set to suffer massive crashes.
Forex trading has been consistently garnering the interest of seasoned investors as well as the newbies. The forex trading market has been growing steadily and the recent turn in global markets has made forex trading a hot topic of discussion among investors. In fact, there has been an upsurge in forex trading in the wake of the ‘working from home’ phenomenon. As the number of forex traders rises, new trading platforms emerge making it a competitive market for trading houses. It ultimately boils down to offering the best to the customers to stay ahead in the game.
We are in strange times. The COVID-19 pandemic is an unprecedented event and the world trade is anticipated to fall between 13% and 32% in 2020. The bad news is, the health crisis timeline is fuzzy, and it is almost impossible to define when the world will get back to normalcy.
Ever since Forex became attractive to retail investors in the late 1990s, the Forex market has grown 2.5x faster than the global GDP. Today, Forex is the largest and most liquid market in the world. Currently, $5.3 trillion are traded every day in the Forex market, with retail investors contributing over $250 billion of the total daily turnover.
Forex Trading, just like every other industry has rapidly evolved over the last decade. The internet has opened up trading opportunities, unleashing the financial acumen of a large number of individuals and bringing down the entry barrier of trading via conventional means. From individual investors to full-fledged traders, accessing global markets, making real-time decisions, and, more importantly, being abreast of what’s really happening in the market has been streamlined, thanks to the internet.
Forex trading is among the most lucrative, financially rewarding growth options out there. It is a good place to grow your funds, and, with its 24x7 operations open throughout the year; forex trading provides ample scope and opportunities for savvy traders to trade consistently and successfully
With a market that's open 24 hours on weekdays to allow investors across the globe to trade, irrespective of time zones, it's safe to say that forex is the largest and most liquid financial market on a global scale.