Despite the economic upheavals throughout the world and terror attacks that continue to plague major cities, travel is still big business. Statistics indicate that in 2015, direct spending by resident and international travelers totaled $650.8 billion in 2015. In the U.S. it averaged $2.6 billion a day, $108.1 million an hour, $1.8 million a minute and $30,033 a second, generating $99.6 billion in tax revenue.
The introduction of the Euro facilitated travel by offering one communal currency throughout most of Europe and credit cards have added to the ease with which a person can move from one country to the next without having to convert one currency for the local currency in each country visited.
Besides being used for purchases and services, currencies are also a major trading instrument. Forex–which stands for foreign exchange market–is the market where all of the world’s currencies trade. The Forex market is the largest, most liquid market in the world with an average daily trading volume exceeding $5.3 trillion. Unlike all other trading exchanges which have a physical presence, Forex has no central exchange; it trades over the counter.
Forex trading offers traders the opportunity to buy and sell currencies, similar to trading on any of the various global stock exchanges.It can be done 24 hours a day, five days a week through a Forex broker or by setting up an online account and placing trades via the web or mobile device.
Forex Opportunities While Traveling
Because of the ease of Forex trading, it has become acceptable to take advantage of Forex opportunities and trade Forex even while traveling, whether the trip is for leisure or business purposes. And since Forex trading can be done from anywhere in the world, day or night, the differences in market hours inthe time zones of Asia, Europe and North America allow a trader to take advantage of longer trading periods and trade almost 24/6.
Forex trading has become extremely popular over the last decade or so and there are more and more Forex brokers entering the market each year. A new trader can get flustered with the choice of Forex companies, the features they offer and the strategies for Forex trading that they provide and even a trader with years of experience under his belt might find himself in a dilemma about remaining with his current broker or opening a new account with a different one.
To alleviate this confusion and to make the choice of a broker more efficient, there are many sites that provide listings of Forex brokers and rate the best ones. Most of these sites also offeran in-depth review of each broker and compare the many brokers according to the features they support, so a trader—new or experienced—can see clearly what is being offered and select the one that best suits his/her needs.
These Forex broker review sites are extremely important and are more than just rating services. Rather they have become a source of information, supplying Forex traders with a steady supply of news, analysis, educational material and other relevant information.