PROMOTED: The Popularity of Forex Trading in Developing Countries
The OTC Forex market is known to all. The daily trading turnover of this segment is about seven trillion dollars. The bulk of operations are carried out by major banks, multinational corporations, investment companies, and large hedge funds. Individual participants in the Forex market likeaccount for only about 5% of the turnover. It seems insignificant, but in numerical terms, it amounts to $250 billion.
It may sound odd, but in the nineties of the twentieth century, there were a few private traders. It is with the development of communication technologies, their number began to grow rapidly. Also, Forex brokers appeared and provided access to currency trading to individuals.In developed capitalist countries, exchanges have existed for a long time; the activities of brokers and exchange speculators on stocks there have been considered common for centuries.
The Forex industry began to develop in those countries that were former colonies of European states. Thus, Forex is currently popular in Southeast Asia – Vietnam, The Philippines, Indonesia, Singapore and some African countries like South Africa, Nigeria and Egypt. Special attention deserves Nigeria, which is rapidly developing in this direction. Along with the growth of incomes, many began to trade forex.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Italy Limits Travel, Bans Public Gatherings Across Whole CountryItaly Limits Travel, Bans Public Gatherings Across Whole Country
Read more »
Border Closure: Task Force counts gains in security, economy sectorsThe border drill was also to ensure that neighbouring countries respect the agreement and protocol entered into between Nigeria and the rest of the countries.
Read more »
StackPath
Read more »
Entire country on lockdown as Italy's coronavirus cases climbItaly’s 60 million people on Tuesday were under lockdown with public events cancelled, movement restricted and schools and universities closed...
Read more »