15 Surprising Stats You Likely Didn’t know About Forex
Many people trading Forex often do not know about the stats about it that they should know especially when trading in the market. However, when you do know these facts, you will definitely be able to make an informed choice especially when trading Forex to make returns. Trading strategies by specialists including cmc markets, to live a life in the market to earn huge money.
Here is an overview of the 15 Surprising Stats about Forex:
1. Between the year 1899 and the year 1913 in the US, the foreign exchange holdings had increased by about 10.8%, whereas gold holdings increased by only 6.3% that was symbolic importance on how the emerging Forex market is being affected by the changes in the global market. Since then, the markets has been increasing trading as more people trade in these Forex markets.
2. By the year 1913, almost 50 percent of foreign exchange in the world was performed using British pound sterling. During these times, it was the strongest currency in the world. In addition, it was influential for the changing UK capital shape, where a number of foreign banks were operating in London had increased from about 3 to 71 by the 1860.
3. Until the year 1908 when Federal Reserve in the US was created, individual banks in the US could be allowed to create persona own money. This lead to control inflation in the Forex market, as many people were not aware of the facts that would led to growth in the market.
4. From the year 1972 to 1974, the Forex markets was surprisingly forced to close after unpredicted uncertainty took place in the global market. This was a reduction of over 60 percent in trading volume all over the world. Can you ever imagine this kind of situation happening today?
5. After the introduction of computer monitors in the year 1973, which replaced the antiquated methods of telex and telephones that was previously been used as the chosen technology when obtaining the trading quotes, trading volumes had increased by 50 percent.
6. Forex trading is not risky as people think provided you have information on how to trade it well in the market. The number of people trading Forex in the last decade has more than doubled. In addition, this is attributed to changes in the level of modern technology.
7. Forex trading volume in day in the London Exchange about 53 times less when compared to than New York stock exchange. This results to huge businesses that have offloaded their stocks in the market.
8. Forex trading volume in a day is 4 times the global GDP. From this statistics, $2.2 trillion is held in the FX swaps form and $2 Trillion in form of spot.
9. USD is the top most popular currency; it is involved about 67% of all world’s trades. The USD is world’s number one top traded currency.
10. Forex market was exclusively for banks and corporations in the 1990s that pulled together about $50 to $60 million as minimum liquidity. Since then, the market has been made wide open for those people who need to trade in the market. In addition, electronic and online platforms has made the Forex market liquid for the traders.
11. The five most popular cross rates in the world are EUR/GBP, EUR/JPY, EUR/CHF, GBP/CHF and GBP/JPY.
12. Some banks in the US often allocate as high as 20-30 percent of their funds to Forex market that in between 40- to 60 % of their gross profits through these trading currencies. This statistics definitely makes it a lucrative business for those who need them.
13. Internet has had a massive improvement of Forex trade by 60 percent when compared to the previous days. Today, people trade Forex online and the companies allows people to trade them within 24-7 and 365days in a year. It has also made Forex trading a Global thing as you can access any stock exchange from any part of the world.
14. Central bank is not a participant in Forex, since their work is to offload prices of currencies essentially when Market trades. They set exchange rates in the market.
15. Forex trading is less developed in developing countries as opposed to western world with the mean percentage of investors going at 3 percent when compared to 34 percent of developed countries. trading strategies by specialists including cmc markets, to live a life in the market to earn huge money.
