When online trading was first introduced to the virtual community, it was still untested waters that people feared to tread. Fast forward to 2018 and people are making careers out of trading on virtual platforms and earning a lot of money in the process.
The growth of online trading has been sudden but significant. Forex trading, in particular, has garnered a lot of attention from potential traders in the last few years.
Forex or foreign exchange is something that is common in all parts of the world which is also the reason behind its current global stature. People from across the world are making Forex accounts in order to become a part of this ever increasing community. A whopping $5.3 trillion is traded daily in the Forex market, and that will give you an idea about the enormity of the sector.
Forex in the Middle East:
The Middle East is among the regions which have witnessed the success of Forex trading. It has seen a rapid growth in the number of Forex traders who are willing to invest their hard earned money online.
The foreign exchange industry in the Arabian countries have, in fact, undergone rapid changes. Although it started out small, the sector has grown due to the low-yield environment and the increasing investor appetite.
In fact, if one is to go by statistics provided by the Bank for International Settlements (BIS), an average of $5.3 trillion is traded per day in Forex as recorded in April 2013, and the Middle East’s retail currency market makes up almost 8 percent of this amount.
It is shocking because the Middle East adopted Forex as an asset class much later than other parts of the world. It had not seen much success even a decade ago, but the sudden change was overwhelming.
It was with the establishment of the regional equity markets that gave people an alternative for investment that the idea of Forex trading really began to make a place in people’s hearts. Following the 2008 global financial crisis, a large number of investors understood that Forex would give them more profitable returns as compared to other asset classes and there was no looking back.
The amount and quality of forex inflows and outflows have risen in the last few years. The Forex trading sector has undergone a trade volume growth of over 50 percent every year beginning in 2011. Moreover, the region itself has become significant in the global forex market because of its retail segment.
More and more investors are flying to the Middle East because of the vast number of opportunities. Moreover, the region is strategically located in between Asia and Europe which means that the local time accommodates both the market opening hours in the Far East and the US closing hours within one working day.
Dubai led the Forex trading revolution in the Middle East by establishing a burgeoning Forex market. It introduced the essential infrastructure and created a financial sector dedicated to Foreign Exchange and Forex trading.
Managed Accounts in the Middle East:
Forex traders who have just begun their journey often find themselves clueless about how to proceed. Since Forex trading is all about odds and probability, they are scared to take initial risks which lead to significant losses.
In such cases, a fund management service can come in very useful because they will take care of all your money in exchange for a fee or commission. You will not have to take major financial decisions anymore; the professionals who have traded in Forex all their lives will do it for you. Once you hire a service, they will assign experts to you with whom you can interact on a daily basis and learn more about Forex trading.
You must remember, however, that a lot of people use the guise of fund management services to steal your money and hence you should be careful when choosing a service. Full proof websites like Fibopips which extend their service all over the world are a safe bet. You can also go for local services, but are not likely to get good recommendations.
Having a managed account does not make you any less of a trader. Once you have learnt all the tips and tricks, you can take over the financial aspect of your account again.
If you are a trader a Middle East or Arabian traders looking for managed account service, send mail to support@fibopips.com for handy service
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