There are many interesting facts and facts about Forex, it’s time to find out if you know them all. Do you know how many machines can you buy with all the money that is exchanged every day in the currency market?
Here are the 10 things that (maybe) you do not know about Forex.
1) How many machines can you buy with a single day trading volume on Forex?
Considering that $ 5.3 trillion is exchanged each day, you may be able to show up a good car for any family living in America, and you would still have enough money to buy another for each of them.
2) The United Kingdom has the largest Forex market in the world
You might think that the United States is the leader, but 41% of all Forex transactions occur during the London session, and only 19% occurs in the US session.
3) The currency market has biblical origins
Currency markets are not a new invention.
The exchange between currencies is mentioned in the Talmud, which dates back to biblical times. A commission was paid to the money changers, of course.
4) The worst inflation in the history of currencies
Erroneously, we think that exchange rates will suffer only minor variations, but it is not as much as the citizens of Zimbabwe can testify for what happened in 2008. Currency inflation was the worst in all of history, with a rate of 6.56 sextillions (10 to the 21st). Fortunately we were not long on the local currency.
5) Many forex traders fail to close the year in profit
We all want to make money by investing in the Forex market, but many do not make it. According to recent research, as many as 99.6% of private traders fail to close four consecutive quarters positively.