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A lot of people are wondering about where the biggest forex trading centers in the world are located. It is not a secret anymore that forex market trading is a really great business where money seems easy to make. Here is the answer of that question about the trading centers of forex that you may need.
1. United Kingdom
It is quite obvious that the United Kingdom or the UK is the main forex trading center in the entire globe. Almost 37% of the daily global forex forum in the world happens in the UK. The UK becomes one of the main forex markets in the world because the pound sterling or the currency used in the UK is a main currency as well to be traded in the market. Besides of that, London is also the financial captial in the world. To this day, the London forex market has the highest volume of averafe daily trading, with $1,854 billion of money get traded every single day. Interesting Facts about Forex Industry Everyone Should Know
2. The United States of America
With the popularity of USD or US dollar, it is no secret that the USA is one of the biggest forex trading centers in the world. Today, the United States of America or the USA becomes the second biggest forex market and trading center in the world. The USD or the US dollar is absolutely a main currency to trade in the market and that is why USA becomes one of the biggest forex centers in the world, with New York City as its financial capital. To this day, apparently 18% of the daily global forex business happens in the USA market and the amount of money produced from the average daily trading volume in this market reaches $904 billion every day.
Besides the UK and the USA, Japan is also a big market of forex. Japan, with Tokyo as its financial capital, is now currently the third-largest forex trading center in the world. Japan’s forex market is the place where 6% of the global forex business happens every day. Besides of that, the Japan’s forex market produces $312 billion as its average daily trading volume.
In the forex business, more than $4 trillion worth of money are being distributed every single day. That is why people are wondering about the business and they obviously want to know where the biggest forex trading centers in the world are located, just in case they want to increase their profits from the industry.
The tips of forex trading for beginners are certainly needed. A lot of beginners join the forex industry every single day and obviously without the right guidance, they will get lost easily in the forex market. In order to stay focus and successful in the forex market, all beginners must follow these tips below.
1. Always Learn the Basic of the Business
It is probably a sin when a beginner is too ignorant and does not want to learn the basic of the business and just jump right to the market with nothing in mind. Yes, the very first thing that you need to do is learning everything about the forex business, forex market, and forex strategy. After you have solid understanding, you can jump to the market by using trial account (usually provided by the brokers) and try your luck in the business without risking any money. How to Behave Before Do Forex Business and Start Forex Trading
2. Never Dream Too Wild and Be Realistic
One of the most classic tips of forex trading for beginners that probably everyone has heard is this one: be realistic! A lot of people join the business of forex in the hope of getting easy money, quitting the regular job, and live happily ever after with tons of money in the end. Well, it is not going to happen easily, though. Successful people in forex market have done lots and lots of hard work every single day to achieve their fortune and they loss significant amount of money as well along the way. That is why if you want to join the forex trading industry, make sure that you know the “no pain no gain” wisdom because it is completely true.
3. Trade Carefully and Never Trade a Lot
The last tips that you can get here as a beginner is do not be clumsy, in other words, trade carefully and never trade a lot. If trading forex is something really new for you, make sure you do it carefully and in small amount because you can never tell or predict what is going to happen with the trading. Trading with high frequency and with lots amount of money will basically drain your self-esteem if you lose the trade.
Those are basically the suggestible moves to do when a beginner starts joining the forex market. When the manual they use as guidance is quite random, there is no way that they will be successful in the industry. Instead, they will get overwhelmed by all the random information. That is why stay close to all the tips of forex trading for beginners above and you will be fine in the forex market.
There are many reasons of trading forex. We all know that foreign exchange or forex trading is a great industry where people can make money quite easily. Below are 4 main reasons that you makes people want to try forex trading business.
1. Big Profits
Even though forex trading business is full of risk, especially for beginners, there will be big profits as well waiting for you in the end. With experience, people will acquire skills in the forex market and they will have the ability to avoid significant loss risk and produce a lot of money instead. A great deal of money is certainly possible to get in the forex business, for everyone who wants to learn.
2. Can Be Done Anytime and Anywhere
Forex business is a very flexible business that can be done anytime and anywhere. You do not have to neglect your main job in order to join the forex business, even when you have busy work schedule. The forex market opens for twenty-four hours per day and five days a week for sure. All you need to have is strong internet connections and a laptop.
3. Great for Beginners
One of the best reasons of trading forex is that the industry is quite friendly to beginners. As a beginners, of course it is daunting to enter a whole new world such as a the forex market. However, forex industry provides a lot of ways for beginners to learn everything they need to know, including by providing trial account that can be used for three months before the beginner actually tries to trade. Forex Trading Styles and Strategies Suit To You
4. Plenty Resources to Learn
Joining forex business and being successful in it are all about learning, and efforts of course. That is why people who want to be successful in forex business must learn continuously about new strategies. Thankfully, numerous education resources about forex are available, most of them are for free. Beginners and even advanced forex trader can take forex education courses that are available online to improve their skills and of course eventually help them to become successful.
To this day, forex exchange industry is keep expanding, especially because the growth of number of peoples trading forex and the growth of technology as well. Now that you also know the reasons that make people want to try the business of forex trading, make sure that you give the business a shot when an opportunity comes. Then, you can certainly understand why those reasons of trading forex completely make sense.