What is FOREX?
Today’s financial world considers FOREX Market as the biggest markets of the world. It is also known by the name “OTC Markets”. The main feature associated with this market is that the orders are placed by the account holders or customers directly over the terminals operated by the brokers. As everything else this also has limitation to its kitty which is, not being controlled by any sort of central governing body and hence the orders placed by the account holders are not regulated by any central governing body.
But in spite of the given limitations that the FOREX Market is not under control of any governing body, its advantages makes people get involved with it because of the associated several mobility benefits. For example, for trading they are not required to remain static or attached to any place or terminal and they are at ease to trade remotely at any given point of time.
Further it allows the people to trade for the higher volumes. According to the reports submitted by IMF as well as BIS in the year 2015, a person can do the trading of more than $ 6 trillion on the daily basis in the FOREX Market.
The most important factor is that the person trading in the FOREX Market is not required to wait for the liquidation because the amount of trading is liquidated instantly. And the best thing is that for doing all these sorts of trading the person is not required to pay any tax charges.
Benefits of FOREX
One of the biggest markets of the world is the FOREX Market and also name as “OTC Market” which provides the customers to trade 24 hours a day using the broker’s terminals. This market if open for 5.5 days as week and the customer have ample time of trading and the amount of trading volume is also significantly big.
It can be said that:
- The trader is relieved of paying tax
- High trading volume available
- Trading can be done from anywhere using mobile terminals
- Large amount of time available for trading
- No interference by any central governing body
- Instant liquidation possible
- High Amount of leverage i.e can do trading wih small amounts.
4 Important Aspects of FX industry
The FOREX Market is most suitable for the traders who want to do spot trading. With the high amount of trading volume, volatility and big trading time available it provides instant liquidity.
The basic currency in case of FOREX Market and its related trading is US dollar and other currency is traded in comparison with it.
The trader can choose any technological trading platform. He can choose an account of his choice and has to pay no commission to brokers for trading done.
The FOREX Market is not wide spread and there are ample chances of development and progress in this. Due to these reason, the customers will more satisfaction in this market.