Forex trading accounts have been busier than ever in recent years. While the global recession has had a dramatically negative effect on a number of major currencies and markets it has had no negative impact in the volume of trades being made nor the liquidity of Forex. This year has seen precious commodities like gold reach all time high prices on a number of occasions and the price of oil has continued rising gradually as well.
The Euro zone crisis has caused thousands of traders to seek refuge in perceived safe havens such as Swiss francs and gold. While all this action may not be good for Europe as an institution, it provides a healthy basis for exciting and profitable trades. For the uninitiated Forex trading accounts represent a passport to a whole new world of financial strategy.
Forex trading accounts tend to come in two basic forms, practice accounts which merely allow traders to simulate trades (albeit with 100% accuracy as simulations are based on real market data), and standard accounts which allow traders to stake hard capital on their trades. Practice accounts are often free or require only a small deposit to open whereas standard accounts usually require a deposit of $1000 plus before being activated.
The job of the dedicated Forex trader is to search for telltale signs that a particular currency, pair or commodity is going to rise or fall in value. Such signals include signs of political instability or growing civil unrest and the threat of war, economic depression and unemployment, declining industries and many more.
Traders spend most of their time researching such factors so if that sounds boring trading Forex may not be for you. For those who have a passion for politics, economics and business trading Forex is an excellent way to turn their interest into a profitable venture.