Every one of us wants to make something that we can leave for the world. All of us have a dream and most of these dreams unfortunately depend on the money. As such, most of us strive to save and maintain a job with a respectable salary. An unobtrusive manager and a lack of pressure at work are also added pluses. The Forex market can help many entrepreneurs and dreamers achieve some of their long cherished ambitions.
The word Forex is taken from 2 words which are (Foreign Exchange market) and even the word Forex has been called FX.
Before entering the market, you have to ask yourself, why would I enter the Forex market? Why invest in this market? What are the benefits?
Well, there are so many reasons why the investor should be entering the market:
- The Forex market is considered the fastest growing and largest market in the world. It’s total trades exceeds 3 trillion dollars per-day (3,000,000,000,000)
- There is no monopoly on the Forex market at all. This means there is no need to worry about a company or country taking control of the currency market.
- The Forex market operates 24 hours a day, 5 days a week. Saturdays and Sundays are off.
- You can analyze the market region that suits you most and keep on following its movement.
This is because the Forex market runs in 4 different regions, beginning with the United States before proceeding to Australia, the Far East and Europe.
- You can trade in Forex market online from any place in the world; all you need is your computer and a secure internet connection.
- You don’t have to be a millionaire to enter this market. In fact, some brokers will allow you to start investing and trading with $1 capital.
- For the Muslim Community: There are types of accounts called Islamic accounts where the broker manages this account in accordance with the Sharia’a. This is how it works, usually when a trader enters the market there is an interest rate given or taken from him. when the investor has Dollars and enter the market buying Euros. That means that the Dollars will be in the market and I will obtain the Euros. I will have interest rate of Euros and will pay the interest rate of Dollars. The difference between these 2 interest rates called swap and it could be positive or negative (+ or -) to your capital.
The Islamix accounts, however, are interest-free.
Brokers eliminate the swap to create Islamic accounts according to Islamic jurisprudence.