In the Forex market, there’s always a currency that goes up. That’s why I like this market so much. In these times of crisis, it’s the best market for investing your money. New data shows that more and more money enters the forex market in an amazing speed. This shows that everybody is giving forex trading the honor it well deserves.
It now seems that investors are shifting to Forex: the Forex Blog reports that Forex Volume could be as high as $4.5 trillion dollars! It is based on data from 2007 and a survey showing a growth of 41% in the turnover in forex trading.
Here’s a quote from a participant in the large scale survey:
”We have probably made more of an aggressive leapfrog in growing our revenue base, which has virtually doubled in 2008 versus 2007. With the situation that has been developing over the past six months, where banks are clearly re-embarking on a new role leading back to basics, foreign exchange has to be one of the products that tops that list.”
When stock markets began declining, investors who were looking for “safe” investments put their money in banks. Banks are closing (or being nationalized) all the time, so the banks aren’t the safest option.
And what the banks are giving isn’t promising as well. Interest rates are going down everywhere. In some countries, the “race to zero” interest rates has already been “won”. In others, the rates continue to plunge. So these savings yields are becoming worthless.
As aforementioned, what was trivial to veteran forex traders wasn’t known to many investors. But “thanks” to these global changes, foreign exchange is receiving more and more attention – much more money.
I’m happy to be part of the rapidly growing forex market. Luckily, today there’s a lot of good and free information on forex on the Internet, so traders have all the necessary tools to trade successfully in this market.