Forex Industry Latest Trends and Growth
The forex industry is constantly evolving and growing.
New technologies and products are being developed all the time, which means that brokers have to keep up with the latest trends in order to stay competitive.
Here are some of the latest trends and developments in the forex industry:
Social trading:
This is a relatively new phenomenon whereby traders can copy the trades of other successful traders on social media platforms such as eToro.
This allows them to benefit from the expertise of more experienced traders without having to do all the research themselves.
It also makes it easier for newbies to get started in forex trading, as they can learn from and emulate those who are already doing well.
Cryptocurrency trading:
Cryptocurrencies such as Bitcoin have become increasingly popular in recent years, and many forex brokers now offer cryptocurrency-based CFDs (contracts for difference).
This allows investors to trade on price movements without actually owning any cryptocurrencies themselves – which can be risky business!
Copy-trading:
Related to social trading, this is where investors can automatically copy the trades of other successful investors using special software provided by their broker.
Again, this helps take some of the guesswork out of investing for newcomers while also providing an opportunity for more experienced traders to make some extra money by sharing their knowledge with others