Trading Forex online is the new way we do business and in less than ten years it has completely changed the face of the market. No longer is Forex exclusively the realm of financial sector veterans based in London, New York, Tokyo, etc. Now professionals from a wide range of backgrounds and territories are getting involved and finding great success as Forex traders.
I’d like to say that the Forex industry opened its arms during the 00’s and began to embrace the common man in the hope of creating a better tomorrow, but the fact of the matter is that this change came about as a direct result of the massive improvement and proliferation of information technology in the last decade.
With most professionals spending their days in front of a computer with a high speed internet connection, the conditions were there for a major change in how Forex operates. Of particular importance has been the emergence of highly efficient and accessible online trading applications like Metatrader 4. With such applications it’s easy for professionals to balance trading with other work as all the information they need is streamed automatically to their computer.
Trading Forex online has also brought about a number of other new Forex developments. About half of Forex traders use computer automated algorithms to help them calculate their trades. Some feel such confidence in their algorithms that they let them execute trades automatically. As these processes are refined we are having to completely re-evaluate how we consider the market and what shape Forex is going to take in the near future.
If the number of new traders entering the market continues to increase at the present rate it will have more than doubled in size by 2020. The precise effect this rapid growth will have on Forex is difficult to forecast. One thing is clear though; there’s never been a more exciting time to trade currencies!