Forex Trading: The Trillion-Dollar Industry You Should Really Know More About
Seeking Alpha Analyst Since 2017
Here’s a fact of life – big businesses make big bucks. While there’s no shame in running a small business (in fact, it’s awesome!), it’s true that there’s a lot more profit to be made in markets of bigger sizes.
What most people don’t know, however, is that you don’t need to have a unicorn start-up or be the heir to a Fortune 500 company to be part of a massive market industry. And we’re not just talking a billion-dollar market, we’re talking a trillion-dollar market. Yes, with a T.
What I’m talking about is the foreign exchange market or simply known as the Forex market. And for the uninitiated, it is, without question, the largest financial market in the world.
What exactly is this Forex market, though? Well, here are three things you must know about it before dipping your toes into this trillion-dollar goldmine.
1) The Market is Worth USD6.6 Trillion
Didn’t believe me when I said it was big? Well, how does USD6.6 trillion sound to you?
Jokes aside, the Forex market really is that big, as reported in 2019 by the Bank for International Settlements. The BIS is essentially the biggest central bank in the world. It’s collectively owned by 60 central banks globally, that make up almost all of the world’s GDP, and they’ve declared the Forex market to be this big.
In fact, as reported by the BIS, this is a daily turnover. That’s right, a daily exchange of currency worth USD6.6 trillion. It easily beats the equity, futures, bonds, cryptocurrency markets, and even the New York Stock Exchange.
2) Forex Trading is Nothing New
But if this market is so big, why haven’t I heard of it? Well, the truth is, you probably have. Foreign exchange is exactly what it sounds like – trading different currencies and investing in them as they increase in value.
And this practice of exchanging different currencies has been in effect for centuries. The earliest recorded examples of exchanging foreign currencies can be traced back to the Biblical era, where money changers would set up shop in city stalls and temples.
Since then, it’s been common practice to standardise different currencies, and with the world’s economy and production growing as much as it has, the market has also ballooned into something massive.
3) You Can Join the Market at Any Time
All this said, you’re probably thinking that a market so big would probably already be saturated or that you need to be a big business mogul to understand the ins and outs of a centuries-old industry. And in the past, you would’ve been right.
Back in the day, only banks, or people with liquid funds in the millions of dollars could participate in the Forex market. However, now with different Forex brokers providing retail investors access to the largest and most liquid financial market, anyone can start jumping in and experiencing the unique, profitable world of Forex trading!
This is why my suggestion is to learn all you can, and contact the best Forex broker you can find online, and you can start earning almost immediately from this gigantic market.
The Forex market is huge and complex, but we made this video to make sure you can understand it bit by bit. Check this out: The USD6 Trillion Godzilla You Can’t Ignore
To your success,
Mario
[Visit www.mariosingh.com now to enjoy a FREE e-book of my latest “37 Essential Principles for Massive Success” when you subscribe!]
Originally published at https://mariosingh.com.
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