Forex Exchange Market, also known as ‘market that never sleeps’, is a widely popular trading platform. It is a form of the trading platform where you can trade or switch the dollars for euro or any other currency transactions. This form of market is highly popular and is embraced in various parts of the world. Due to its high benefits in the market, many people have invested in it. It is a serious business platform and is considered as one of the top profitable business transaction exchange space. This article will point out the various fun facts, yes; you heard it right—fun facts about the Forex industry. Let us find out a few of the top fun moments that happened in the industry.
- Those who have and who are planning to invest in the Forex market doesn’t know the history of Forex. One can point out that Forex trading has been around since the old, ancient times. The legend says that the first and the foremost transaction were done in the Talmudic writings. Like the barter system, they used to exchange the money, and they are called as the money changers.
- Have you heard about the currency cable? In the Forex transaction space, the GBP/USD pair is known as the cable as it integrates the fibre optics in the currency. This fibre optic is used to communicate as well as to do the money exchange. Thus, the name, currency cable.
- The Forex market is filled with bears and bulls. The traders are called bulls, and those who are categorized as the downbeats are bears. The major concept of the bulls is that they strike upwards and those of bears strike downwards. The bulls’ category is optimistic, whereas the traders are pessimistic.
- Over the years, US Dollars sits proudly in the Forex market by embracing the 80 percent of the entire Forex trade. At present, the Forex market is worth more than $5 Trillion.
- Most of the Forex trading is considered as challenging and speculative. This follows the 90 percent of the investment and trading made in Forex grounds.
- There are many kinds of trading within Forex. The immediate trading space is known as spot trading. This is because the exchange is purely based upon the “spot”.
- During the initial stages, Forex trading was only related and possible only to the banks and institutions. This concludes the $40 million to $60 million funds. Whereas at present, investors with minimum amount can invest and trade on Forex trading space.
- You may know Forex trading as Forex. But there is another term called which is considered as the nickname of Forex; this is called Pip.
The world of Forex trading is a serious issue and needs utmost concentration while intending to transfer and invest. However, space also has few facts but fun and informative for the people who are about to invest or already invested. We hope you had a good day’s read today.