Forex Malaysia stands for Foreign Exchange. FOREX stands for Foreign Exchange and is used to purchase and sell currency worldwide by FOREX traders and banks.
Forex market was not open to public until 1996. The initial capital required to enter the Forex market is USD10,000,000. Forex market is not a popular investment because it requires little effort and can be withdrawn at any time. Daily trading volume was also less than USD500,000,000 per day.
The Forex market opened to the public for the first times in 1996 after being approved by Bill Clinton, former president of the United States. Forex brokers have grown like mushrooms since then and the trading volume has increased over time. Forex is the largest daily trading platform, with daily trading volume exceeding USD3 trillion. This is much more than all the stock exchange volumes around the world. It is 4 to 5 times larger than the US Futures Market volume.
FOREX market is so important that it can instantly bring down a country’s economy. Many Asian countries, such as South Korea and Thailand, Indonesia, Singapore, Malaysia, and Singapore, experienced currency crises in 1997. George Soros is one of the main players that has profited more than USD1 million in a flash during this crisis.
Because of the increasing competition from Forex brokers online, the minimum initial capital needed to open an account has fallen to a lower level. An account can be opened with a minimum capital of USD250 to trade currency.
Forex market is accessible 24 hours a daily and non-stop for 5 consecutive days. Forex trading can be executed in one of two ways. It can be either during the market’s up- or down. If you are able to learn how, both of these options can help you make money. Forex trading, unlike stock market trading, is free from commissions. You can also trade Forex with high leverage which allows you to invest small amounts.