Forex Market is world’s biggest Financial Market. Still many people see Forex as a boring industry, one that demands the constant task of heavy analysis, stress and risk. But if you look deeper into the market, then you will see dynamics and the profit generation opportunities turn it in a lucrative option for making more money or even starting a business.
Here you can read some most interesting facts about Forex Market if you are start trading in Forex Market.
1. Forex Market is considered to be the Largest Financial Market in the World where you can buy, sell and speculate on currencies. Approximately 5.3 Trillion Dollars traded daily in Forex Market which is more than future and equity market combined.
2. 85% of all Forex Trades occur on only major 7 currency pairs: EUR/USD, USD/JPY, GBP/USD, AUD/USD, NZD/USD, USD/CAD, USD/CHF.
3. 66% of US Currency is held overseas by private individuals, foreign governments and institutions.
4. 90% of all foreign exchange transaction includes US Dollar.
5. 41% of all Forex transactions are conducted in United Kingdom, whereas only 19% happen in US and rest 40% transaction accounts in other part of the world.
6. 5% of total volume in Forex is attributed to retail traders.
7. GBP/USD is also known as cable. Back before fiber optics and satellites, stock exchanges in London and New York communicated by a long steel cable under the Atlantic. Because of this, GBP/USD is still called the ‘cable’ today.
8. 44% of Forex Traders are between the ages of 25 and 34.
9. 11% Female Traders represent Forex Market.
10. 180 Currencies are used in 195 countries across the world.
11. Kuwaiti Dinar is the world’s strongest currency and has the highest currency value.
12. Germany has the largest global Forex Players.
13. Forex Traders are referred to as Bull and Bear. The Bulls are optimistic ones who believe that Forex Market will go up at a particular time while bear traders believes that price will fall.
14. 4X Volume of trading in Forex compared to the Global Gross Domestic Product.
15. 53X Foreign Exchange Trading Volume compared to NYSE.
Forex Market is one of the Largest International Financial Market in the world. To make large profit Open an account with Best Forex Broker.