Forex is not about getting rich quick. It is the art of slowly and consistently growing the account balance taking very calculated risks. Consistency is the key here.
People actually lose money not because forex is scam but due to their lack of knowledge. And in an extremely competitive and manipulated field like forex trading.
Experts say the currency market will continue to grow exponentially thanks to the globalization and popularization of remote work.
Under these conditions, the brokerage business is more viable than the traditional one that can be pushed off-balance by inevitable economic fluctuations and crises.
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The foreign exchange market – also known as forex or the FX market – is the world’s most traded market, with turnover of $5.1 trillion per day.*
Forex is traded 24 hours a day, 5 days a week across by banks, institutions and individual traders worldwide. Unlike other financial markets, there is no centralized marketplace for forex, currencies trade over the counter in whatever market is open at that time.
Trading forex involves the buying of one currency and simultaneous selling of another. In forex, traders attempt to profit by buying and selling currencies by actively speculating on the direction currencies are likely to take in the future.
To put this into perspective, the U.S. stock market trades around $257 billion a day; quite a large sum, but only a fraction of what forex trades.