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Abstract:The fifth issue of the London Renminbi Business Quarterly Report, jointly released by the City of London and the People's Bank of China in Europe recently, showed that RMB’s average daily forex trading volume in Q2, 2019 reached a record high of 85 billion pounds, up 8.8% from the previous quarter and a 22.9% increase year-on-year.
The fifth issue of the London Renminbi Business Quarterly Report, jointly released by the City of London and the People's Bank of China in Europe recently, showed that RMBs average daily forex trading volume in Q2, 2019 reached a record high of 85 billion pounds, up 8.8% from the previous quarter and a 22.9% increase year-on-year.
Coincidentally, the Bank for International Settlements (BIS) concluded from the statistics in the past 6 months that the nominal value of outstanding forex derivatives has been on the rise, while other derivatives have shown a decline. By the end of June 2019, the nominal amount of forex derivatives totaled US$99 trillion, while brokers from emerging market economies accounted for 9% of the nominal amount of outstanding forex and commodity derivatives, up from 7% at the end of June 2016.
Undoubtedly, the forex market, already the world's largest financial market, is still growing rapidly. While the world's major economies maintain their dominance of market share, the emerging market economies are showing their potential through accelerated development. This is particularly evident in the Southeast Asian countries which have made great strides in their financial and forex trading sectors. Although some countries have certain restrictions over forex trading for financial security reasons, the ubiquitous impact of forex industry in an age of accelerating informatization and globalization is hard to ignore, and the booming global forex industry is bound to have far-reaching implications over the economic life of people from these countries, sooner or later.
The constant advancement of the forex industry is accompanied with enhancement of regulation. Countries around the world are establishing more institutions to regulate the market and guide the sound development of forex industry. But in such a lucrative market, the existence of illegal brokers also becomes inevitable. Investors still have to stay alert in the current investment environment in order not to fall into brokers traps.
Asset safety is a prerequisite for making profits in all investments. And as the leading media of the forex industry, WikiFX has recorded detail profiles of more than 14,000 brokers, allowing investors to verify brokers‘ qualifications from multiple dimensions. Meanwhile, we also provide vast amount of forex information to guide investors towards a safer forex trading experience. For more information, please visit WikiFX’s official website or WikiFX App.
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The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Keep Silence to FX Scams? NO! EXPOSE Them on WikiFX!
A few months ago, a person from the trading solution provider company “PlatformsFx” contacted the victim for forex trading. According to the victim, the scammer and his so-called well-known gold trading platform took US$76,878 from her and put it into a presumably real forex account.
Archimendes said: “Give me a fulcrum, I can lift the whole earth”. This is the earliest appearance of the concept of leverage. The word leverage dates from 1724 and was originally used to describe the action of a lever. By 1824, by which time the Industrial Revolution was fully underway, the scope of the word had expanded to include the power of a lever and therefore the obtaining of a mechanical advantage. It is simple to say that if you want to invest $10,000 in the forex market, you can to it by leverage with small investment. Leverage is a financial tool, which can magnify the result of your investment, including gain or loss at a fixed ratio.
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