Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,162,149 members, 7,849,577 topics. Date: Tuesday, 04 June 2024 at 02:59 AM |
Nairaland Forum / Nairaland / General / Investment / Forex Trading For Beginners (298 Views)
Has Binance Closed P2p Trading For Nigeria ? / A Tutorial On Binance Futures Trading For Beginners / How To Go About Crypto Trading For Newbies. (2) (3) (4)
(1) (Reply)
Forex Trading For Beginners by Daniel1991(m): 5:48pm On Feb 06, 2021 |
Welcome to this thread. I will put you through on what forex trading is and how to trading forex. Please follow this trend not to miss any information. Today, I will quickly put you through the Introduction of what Forex is. Introduction Forex is short for foreign exchange and refers simply to the conversion of one currency into another. Currency exchange is vital to the functioning of the global economy. Goods that are produced in one country and sold in another necessitate currency conversion. Consider, by way of example, that the popular iPhone is assembled using components from at least five countries and is exported to no fewer than 87 countries. 1 Given that Apple accounts for its earnings and pays dividends in US dollars, payments to suppliers and the repatriation of profits will require nearly a hundred separate foreign exchange transactions for only this one product! When you apply this notion to the whole of the global economy, you begin to understand the scope of currency exchange. In fact, average daily turnover in the forex markets now exceeds $4 trillion. Spot trading in the USD/EUR alone represents $400 billion—enough to earn it the designated status of most traded financial asset in the world. By comparison, the NYSE and Nasdaq combined account for perhaps $150 billion in daily equities volume. Global foreign exchange volume has doubled over the last six years, while equities volume has stagnated. Of course, this isn’t an apples-to-apples comparison, but the point stands that the forex market is truly massive. Meanwhile, the retail penetration of forex is minimal. As I will explain in due time, while many stockbrokers, bond brokers, and options brokers are all now household names, retail forex brokers tend to be small and specialized and have very little brand recognition outside of the forex niche. Ever heard of Charles Schwab or E-Trade? How about FXCM or Gain Capital, two of the industry leaders in retail forex? Case in point. This contradiction is amazing to behold. It also partially explains the tremendous retail growth in forex over the last few years and the inevitable continuation of this growth over the next decade. Simply, it seems that forex trading has moved from a dark corner of the financial universe into the mainstream. An opportunity that has long been ignored by the majority of individual investors has been brought to the foreground, and the battle to profit from it has begun. Let me give room for questions. My next post will be on Wednesday. Follow this trend of you want to learn forex and want to make money from the market. ✌️ 1 Like
|
(1) (Reply)
New Method Crypto Arbitratage On Binance Revealed / Jim Ovia Set To Receive Over N12bn In Dividend From Zenith Bank Plc / How You Can Invest In Transport And Logistics Business
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 11 |