Warren Buffett once said, “It’s nice to have a lot of money, but you know, you don’t want to keep it around forever. I prefer buying things. Otherwise, it’s a little like saving sex for your old age.”
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Forex trading is for those who enjoy speculation and the potential for huge returns. The foreign exchange currency market is the largest financial market around — trading daily amounts between 3.2-4 trillion USD. These figures are 35 times larger than those of the NYSE (New York Stock Exchange) and even 4 times larger than the world GDP!
Forex is also the most liquid market in the world, since it is entirely cash, and this makes it easy to trade most currencies. Forex deals are commision free, unlike trading futures or equities. While major financial institutions still dominate the trading landscape, individuals like yourself are now able to compete in this global cash market.
TOP 10 Currency Traders
(In terms of percentage of overall volume, as of May 2013).
Deutsche Bank had a market share of 15.18%, and Citi was not far behind, with a f 14.90% market share. Third was Barclay’s Investment Bank — at 10.24%, followed by USBS AG with a 10.11% market share. Fifth is HSCS, with 6.93% and JP Morgan is next, with a market share of 6.07%. The Royal Bank of Scotland is seventh with 5.62%, followed by Credit Suisse at 3.70% and Morgan Stanley – 3.15%. Lastly, Bank of America Merrill Lynch comes in at 3.08%
The three major Forex trading countries are the United Kingdom at 32.4%, followed by the United States at 18.2% and Japan with 7.6%. Additionally, the five major forex trading centers are:
**To start trading in this global cash market, head on over to www.forextraining.co.uk to learn the!