Forex (FX) is the market in which currencies are traded. The Forex market is the largest, most liquid market in the world, with average traded volumes of over $5 trillion a day. It includes all of the currencies in the world.
There is no central marketplace for currency exchange; trade is conducted over the counter (via any internet interface).
The Forex market is open 24 hours a day, five days a week, even on holidays, and currencies are traded worldwide among the major financial centers of London, New York, Tokyo, Zürich, Frankfurt, Hong Kong, Singapore, Paris and Sydney.
The Forex is the largest market in the world in terms of the total cash value traded, and any person, firm or country may participate in this market.
The biggest stock exchange market in the world is the NY stock exchange (NYSE), averaging the trading volume of $169 Billion a day. The Forex market trades over $5 Trillion a day, which is 30 times bigger than the daily average of the NYSE.
Advantages of Forex Trading
Diversification: For South African’s its important to diversify their capital to different currencies, you can create 3 different Forex accounts with either USD, EUR, or GBP, instantly diversifying to 3 different economies.
Liquidity: Capital can be withdrawn between the 5th and the 10th of every month and takes 3-5 working days to arrive in your bank account.
Insane profits: Royce Capital has a proven track record of achieving profits of 1% a day on average the last 2 years on our accounts. 1 percent a day with compound interest is 900 percent in 231 days. (there are 260 trading days a year. So 30 days are left as a buffer. (900 percent takes R100 000.00 to 1 million Rand in one year. 1 million to 10 million Rand end of year 2. And yes, after 3 years 100 BAR.
Trading leveraged products such as Forex, commodities and CFDs, carries with it a high level of risk and so may not be suitable for every investor.
Prior to trading the foreign exchange, commodity or CFD market, consider your investment objectives, level of experience and risk appetite.
You should never risk more than you can afford to lose.
If you fail to understand or you are uncertain of the risks involved, please seek independent advice.
RCG do not endorse trading signals and will not be held responsible for any poor market judgements or losses incurred upon the acknowledgement of their trade recommendations and analysis.