Nowadays because of the high inflation in Kenya it's populace are sourcing any means of making an extra cash to foot their bills. Then the only source of income can come from the internet for most employed personnel. Thus Forex trading has been the norm and the story in the lips of every Kenyan in the corridors of major institutions. Majority of the white color task force have either got involved or are contemplating investing in the Forex market. However, most of these elite group do not know even what Forex market concerns. However, if interested in further learning more about Forex trading in Kenya Email Gazmoth@yahoo.com
What is Forex?
Forex or foreign exchange market is usually considered as a market where the buyers and sellers execute foreign exchange trade over the counter. Therefore, this can be viewed that Forex is a trading arena where investors are allowed to trade foreign currencies throughout the trading day. This market has the largest in the world and has a daily turnover of $3 trillion. The primary benefit for this over the counter market transaction is mainly so that the the international trade and investment is assisted through by the means of allowing the conversion of one currency to others by businesses community. The Forex market is active 24 hours a day and operates 5 days a week, with the value of the currencies changing throughout the day according to supply and demand level. Th Forex market is among the most secure method of investments all over the world compared to other medium of investment such as stocks options and bonds. Just like the regular market where we buy and sell services and products Forex market centralizes on buying selling currencies.
There are more than one hundred currencies pairs in the world which can be traded. Throughout the whole world currency rates are uniform thus if the exchange rate of the Euro in exchange with the dollar is 1.5220 in London it will 1.5220 in New York, Hong Kong and Kenya. This form of market is largely composed of "speculators" this are investors who naturally buy and sell currency in order to profit when the currency rates fluctuates. In the Forex market only 5% of the tradings are for commerce purposes such as industries, tours or development purposes, the remaining 95% are mainly for the speculators purposes.
What affects Forex market?
The Forex market is mostly affected by by macro economic data and not as many confuses with the micro economic data. what are the macro economic data that affects Forex market? this are the templates such as the raise in the interest rate in a country, increase in the level of unemployment and increase in the country political conflicts. On the other hand micro economic data which does not affects Forex market are templates such as a large company balance report or a large business deal which a multi-billion organization is about to execute. Simply the micro economic data does not influence or affect the Forex market in any way or another. The Forex market is generally comprises of currency and commodity.
Advantages of the Forex market
The Forex market generally has two principle advantages. The first advantage is liquid. This mostly reflects on the way stocks and trades usually fluctuates depending on the companies development. However, with Forex market the currencies does not fluctuates like the stocks and the effect is usually minimal and one will not get stuck with currencies like stocks. This makes Forex market more solid as any time in time one can cash in their currencies or goods and get their money back instantly. However, in this market until one cash in their good they cannot realize if they have gained or lost. The second advantage in the Forex market there are no control of external financial buyers. The speculator as might as he or she might be in the social status they cannot be able to influence the Forex market.
Forex or foreign exchange market is usually considered as a market where the buyers and sellers execute foreign exchange trade over the counter. Therefore, this can be viewed that Forex is a trading arena where investors are allowed to trade foreign currencies throughout the trading day. This market has the largest in the world and has a daily turnover of $3 trillion. The primary benefit for this over the counter market transaction is mainly so that the the international trade and investment is assisted through by the means of allowing the conversion of one currency to others by businesses community. The Forex market is active 24 hours a day and operates 5 days a week, with the value of the currencies changing throughout the day according to supply and demand level. Th Forex market is among the most secure method of investments all over the world compared to other medium of investment such as stocks options and bonds. Just like the regular market where we buy and sell services and products Forex market centralizes on buying selling currencies.
There are more than one hundred currencies pairs in the world which can be traded. Throughout the whole world currency rates are uniform thus if the exchange rate of the Euro in exchange with the dollar is 1.5220 in London it will 1.5220 in New York, Hong Kong and Kenya. This form of market is largely composed of "speculators" this are investors who naturally buy and sell currency in order to profit when the currency rates fluctuates. In the Forex market only 5% of the tradings are for commerce purposes such as industries, tours or development purposes, the remaining 95% are mainly for the speculators purposes.
What affects Forex market?
The Forex market is mostly affected by by macro economic data and not as many confuses with the micro economic data. what are the macro economic data that affects Forex market? this are the templates such as the raise in the interest rate in a country, increase in the level of unemployment and increase in the country political conflicts. On the other hand micro economic data which does not affects Forex market are templates such as a large company balance report or a large business deal which a multi-billion organization is about to execute. Simply the micro economic data does not influence or affect the Forex market in any way or another. The Forex market is generally comprises of currency and commodity.
Advantages of the Forex market
The Forex market generally has two principle advantages. The first advantage is liquid. This mostly reflects on the way stocks and trades usually fluctuates depending on the companies development. However, with Forex market the currencies does not fluctuates like the stocks and the effect is usually minimal and one will not get stuck with currencies like stocks. This makes Forex market more solid as any time in time one can cash in their currencies or goods and get their money back instantly. However, in this market until one cash in their good they cannot realize if they have gained or lost. The second advantage in the Forex market there are no control of external financial buyers. The speculator as might as he or she might be in the social status they cannot be able to influence the Forex market.
How to Open A Forex Account
There millions of agents and brokers who are willing to help you invest as well as con you your hard earned cash. Therefore it is wise to choose the best Forex trading bureau that offer demo account and free tutorial and then well make money or loose money.
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