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Forex Betting

The foreign exchange market (Forex) is world's largest financial market, with an estimate daily turnover of $3.2 trillion in April 2007. Since then, the market has continued to grow. According to Euromoney's annual FX Poll, volumes grew a further 41% between 2007 and 2008.

Basically its the market where banks, companies and speculators buy and sell currencies. The most traded currencies are the United States dollar, Euro, Japanese yen and Pound sterling.

Forex betting doesn't provide the quick returns of football betting but is safer and can be considered an investment. Arguably there is not much difference between a gambler and an investor. Forex betting has great appeal to financial trader because of its volume which guarantees liquidity. High liquidity means that am investor can bet whatever currencies she feels like at all times, since there will always be someone to buy and sell any currency she wants. Eat your heart out Betfair.

Another feature of the forex market is that it is active 24 hours a day Monday to Friday. Any news that impacts on currency prices can be assimilated in real time. There is no need to wait for market to open (unless its the weekend).

With the internet, the Foreign exchange markets are open to everyone. Most brokers offer online trading facilities which enable you to trade simply by clicking a button, instead of the traditional phone call. The internet has really revolutionised the industry, making the retail section of the market more dominant than ever. The low costs of trades makes it practical for small time investors to cash in on currency swings.

Unlike other financial markets the forex market literally cannot crash. This is due to the fact that in the forex market one invests in a currency's value relatively to another currency. One is always buying and selling at the same time. Therefore one can profit when one currency weakens against another just as much as if it were strengthening against the same currency. In fact, the instability that the global crisis has introduced into the market is considered by many to be a positive thing. Volatility in the forex market, despite perhaps making it more risky, also provides greater opportunities for profit. The sharper the swings the currencies go through against each other, the more forex traders stand to profit.

As volatility makes the trades riskier, forex dealers also provide traders with tools to reduce their risk. Stop Loss orders are a very commonly used tool in forex traders, because they allow traders to limit the amount they are risking while their profits remain potentially limitless. One does not even have to risk the entire amount of their investment. For example, if you bet 100 on a trade they can place a stop loss order that will close the trade in case the rate of the currency pair reaches a level that leaves only 50 to take back. This allows traders to protect themselves from unpredictable market movements while at the same time allowing them to take advantage of this same market volatility.

Despite these obvious advantages, some people still hesitate to start trading forex since they've never tried it before. This is where the eToro platform comes in. The eToro forex trading platform is a perfect place to get started in the forex market because eToro provides you with all the advantages of forex trading incorporated into a simple and visual interface. eToro's revolutionary trade visualization make it easy for forex novices to acquire trading skills in no time.

You can bet on the Forex at eToro Forex Trading

Read more at UK Forex Trading

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