Hi this is Henry, and here is a quick video on Forex Trading. Forex market boasts a daily trading volume of 4 trillion dollars, as per the 2010 BIS report, it is not a surprise that most major international corporations participate in the Currency market.
However, Retail Foreign Exchange trading only started to gain popularity in the past few years in the US, although it has been popular outside of the U.S. for quite a while. And as we all know, Forex was once exclusive to the financial elites, fortune 500 corporations, and interbank traders… And that changed when Forex brokers started to offer leverages and basically enabled the average investor to participate in the Forex Market.
But aside from Retail traders like you and I, major corporations such as Bank of America, Citigroup, Golden Sachs, GM, Boeing, or any other international conglomerates participate in the Forex market.
Some of these corporations have payrolls and purchase orders that need to be fulfilled, so they are users of the Foreign Exchange market; others such as Bank of America, Citigroup, Goldman Sachs have specialized departments that speculate the Foreign Exchange market, and they are speculators. And according to the report from Bank of International Settlement, 90% of all Foreign Exchange trading done by speculators…
So to recap, almost every international corporation, most major banks, and of course, retail traders such as you and I, we all participate in the Forex market.
If you like this tutorial, please watch the video and leave your comments below and don’t forget to check out our other videos on the Forex Basics series.