The realm of forex trading presents powerful business opportunities for entrepreneurs to level the playing field against large business organizations. Its daily turnover volume is more than 30 times greater than all the world’s stock markets combined (~$6.1 trillion/day), and its liquidity is far greater than competing financial markets. By leveraging this guide, you’ll learn about three forex business opportunities that you can leverage as soon as today.
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Before we dive in, it is crucial to understand that investing in the forex trading industry carries the risk of financial loss. However, the risk of failure didn’t stop forex magnates like George Soros, also known as the Man Who Broke the Bank of England (fund assets estimated at $8.4 billion), and Paul Tudor Jones (net worth of $4.5 billion) from taking the plunge and manifesting business opportunities for decades to come.
Perhaps more impressive yet would be when you compare George Soros’s $8.4 billion funds worth against the forex market’s daily turnover volume. Mathematically speaking, George Soros’s cumulative wealth penetrates 0.01% of the forex market’s daily turnover, which means that there is a vast amount of untapped potential. So how can you take a slice out of the astronomical equity present in the forex industry? Here are three tried-and-true routes:
- Automated Trading – If you’re an inexperienced forex trader, leveraging an automated trading system can help you amass both short and long-term profits. As a forex business operator, you’ll want to vet every potential automated service. Two types of automated services to familiarize yourself with include high-frequency trading (HFT) and algorithmic trading.
- Social FX Trading – Social trading has become more prevalent over the past decade with the rise of eToro, an Israeli-based social trading and multi-asset brokerage. Given demographic restrictions, many worldwide traders gravitate towards trade copiers and follow only the best performing traders.
- Launch a Signal Service – For those of you who are seasoned traders with consistently accurate trading strategies, launching a signal service around a forex community you’ve built is one of the most rewarding and financially beneficial business moves you can make.
