The foreign exchange or forex market is one of the fastest-growing financial markets today, and Filipinos need to take advantage of this, says a finance executive. A finance executive shares some tips on foreign exchange trading at the Money Summit and Wealth Expo on July MANILA, Philippines - The foreign exchange FX or forex market is one of the fastest-growing financial markets today, and Filipinos need to take advantage of this, a finance executive stressed.
At the Money Summit and Wealth Expo in July, Familiaran said the public must consider participating in the FX market as there are many avenues to learn the basics of FX trading locally. Familiaran also said the FX market is a hour market — a major advantage since most equity traders have day jobs. The FX market allows them to trade and study the market longer and during their free time.
The FX market pays rollovers due to the trading of currency pairs like, say, the euro and US dollars. Rollovers are interest paid to the investor everyday, resulting in higher returns. Familiaran said his firm, FXCM, has "in terms of accounts, around 90, live accounts and institutional clients. In terms of scope of clients, it deals with retail investors… fund houses and even banks.
The FXCM and the dailyfx. The site contains several valuable applications that participants can use to watch the movement of the market and their investments.
The site dishes real-time news and interactions with professional FX traders. For those who want to try investing without shelling out an actual amount, FXCM offers demo accounts.
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