Most people still have no clue. It's not even listed in the financial section of most US newspapers. Yet the Forex does more business in one day than all the stock markets in the world do in 60 days! That's right - we're talking between 1.8 - 2.2 Trillion dollars of business every day.
What is the FOREX or FX for short? Both are acronyms for Foreign (Currency) Exchange. Up to the late 1990's - this incredible market was the domain of the privileged: Central Banks, large financial institutions (Goldman Saks, etc), high net worth individuals, and governments. Today everyday people are now able to enter and profit from this incredible marketplace.
There are a bunch of benefits that make the Forex market a far superior investing &/or trading vehicle than any other financial instrument in the world. For example:
In the stock market - if you open an account with at least $25,000.00 - the Broker will allow you to purchase $50,000.00 worth of stocks. That is allowing you to Leverage your money on a 2:1 basis (2 to1 ). Not bad right?
Well compare that to what many Forex Brokers are offering: 100:1, 200:1 and even greater account margins are readily available - even for starting balances of just $1,000.00. This means for every dollar of your money you bring to the table you can control $100,000.00 - or more - of currency! Now THAT's what I call Leverage.
What's important about Leverage? Using Other People's Money (OPM) has been a major source of people & businesses generating wealth. Business loans, real estate loans, etc. Using the Forex to access large leverage rates offers gigantic opportunity for making money - and now the average Joe can get in on the action.
The fact is that banks and institutions like Goldman Saks make a good portion of their profits from trading in the FOREX (there's a reason the tallest buildings in every town are bank buildings).
The challenge in taking advantage of this market lies in the typical learning curve required to become a successful trader in the Markets. This applies to whether you are trading Stocks, Options, Futures, or the Forex.
Training and Trade Recommendation services abound - but need to be scrutinized closely. Many charge thousands of dollars for software, training, or both. The point is - don't get swept up in the excitement of the huge profits available in the market before doing your homework.
Contact me if you want to learn the other major benefits of trading the FOREX over stocks, options, etc - the differences will amaze you. I can also help you to enter - and profit -from this incredible market using just 20 minutes a week -even if you are a complete beginner to the markets. If you can use a PC - then you are well on your way!
