Forex is a market which witnesses an overall trade of $5.3 trillion every day. A market as big as forex is never stagnant; it works every second of the day and can show signs of a drastic change even in a span of a moment. There are several things happening in a forex market simultaneously, many big moves are taking place on a continuous basis. In a world of technology, it is not hard to keep up with all the activities happening in Forex. There are many forex trading platforms a trader can make use of.
If we split the amount of foreign currency that’s traded every day into a time frame of one minute, we can clearly see that the forex trading market does not take a break for even a minute. There’s a trade of $3.52 billion dollars even in a minute. It is a 24-hour active market; if it is night in japan, it’s morning in the US, so there can be expected fluctuation in the rates of the currency. Additionally, forex trading works on speculations and guestimates. If an investor is trading a pair of USD/EUR, he is supposed to observe all the factors that can possibly influence the rates of the two currencies.
A trader has to remain vigilant of every incident so he can make right speculations and do the trading right. A forex trading platform can help a trader remain observant of the movements in the trading market and enable him succeed at the game of Forex trading.
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In an attempt to wildly speculate the trade that takes place every single minute, in the duration of 60 seconds, it can be observed that a market of $5.3 trillion daily trade has $3.52 billion being traded in a minute.
USD is the most traded currency in the Forex market, followed by Euro. The pair of USD/EURO is the most commonly traded currency pair. Due to the advancement in technology and presence of many Forex Trading Platforms, there is an unprecedent ease that has come into the lives of the traders. It was never possible to witness a change that was taking place in one minute in the currency market. The currency pair of USD/EUR undergoes a trade of $812 million, every single minute.
Spot transactions of about $ 1.15 billion also takes place in a minute.
The foreign exchange swaps have a trade of $ 1.65 billion in a minute.
The pair of JPY/USD sees the trade of $632 million every 60 seconds. With the availability of trading platforms, it has become very convenient for the traders to keep a check on trade all over the world.
Trading of the USD/GBP pair sees a transaction of $326 million.
The overall USD transaction in the span of 60 seconds is $3 billion while trade involving EURO has a transaction of $1.1 billion.
Considering the rapid movement in the forex industry in 60 seconds, technology behind a Forex Trading Platform can play a vital role in it.
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