Foreign exchange markets are no longer just the domain of large traders with multi-million dollar accounts and connections at big banks. The e-forex revolution is here and is providing traders of all sizes legitimate options for trading foreign exchange. The world is not round -it can understood in three parts – the US Dollar, the Japanese Yen and the Euro.
An average individual armed with a computer, a mouse and an Internet connection can trade spot currencies from 19:00 (EST) on Sunday evening to 17:00 (EST) on Friday evening. It seems overnight an industry has sprung up to satisfy this market. Firms that didn’t exist one or two years ago are growing at 20% per month. Such firms often provide free charts, signals, quotes, technical analysis, full simulation platforms and sometimes even financing to open an account. Futures commission merchants and introducing brokers are racing to offer e-forex trading.