The investors and traders can trade with their currencies worldwide in any of the trading zone, 24 hours a day in the foreign exchange market. The London, New York and Japan top the top three currency dealers among all the currency dealers. These currencies are being traded for all the 24 hours of a day. The time when currencies stop trading is the Friday when the Japan market is closed. There is only one-day window after the close of Japan and before the Europe opens its market on the Monday.
The major traders
The majority of traders in the forex market are the banks, investment companies and brokerages. Companies are those, which sell and buy the foreign currencies as a part of their business. The independent brokers and currency dealers make only a very small part of the foreign exchange market. The foreign exchange market continues to develop and grow as the more currency traders have to know about this market and become aware about the potential of this market. The daily average turnover of the foreign exchange market is higher than any other trading market. All these thing lead towards making this market the largest financial and currency trading market.
It serves great profit potentials
The forex market serves an enormous scope for the profit potential for the currency dealers. The foreign exchange market uses the free-floating system, which is considered ideal for today’s dealing in this market. The foreign exchange market lays a very important role in the development of a countries economy after developing from the connective financial centers to the one unified market. This market has expanded worldwide and it reflects a constant growth in the international trades and investments for all the dealers and their countries. Therefore, when it comes about dealing one can deal any time in the foreign exchange market.
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