The forex market has the greatest earning opportunity in all of the universe, provided that a trader is able to choose from the numerous platforms available on the market. Currency trading platform is an online, automated software offered by the foreign exchange services supplier company. It is required for traders to register to gain access to this online software. Then, they can use the automated software for currency trading to buy and sell currency. The focus of my presentation will be on the sale of foreign currency.
What is the reason we require a currency trading platform to buy and sell foreign currencies? We can understand the importance of it by using an illustration. Consider that you have a house in a European nation. For the past two years, you’ve been in the United Nations and renting one of the apartments. Now, you want to buy your own flat in USA and to afford this expense you want to sell the house you have in one of the European nation. Friends and relatives from your past from Europe pushed you to let the home go to a buyer for 30,000 Euros.
At the time that the buyer received payment, the exchange rate for euro with USD was 1.25 which means you will receive 37500 USD when your buyer has paid you 30000 Euro. Consider that your payment has been delayed by an hour and during that time, the exchange rate drops by 20%, so you receive 31500 USD. In an hour, you’ve lost 6000 USD. !!!?? It was the time that seller made payment for the same amount however because of fluctuations in the currency rate, you’ve made the loss. It’s possible that currency rates increase when you’re selling the foreign currency. It is possible to also earn a substantial profit.