The foreign exchange (forex) market is booming. Forex is the largest financial market in the world, larger even than the stock market. With a daily volume of $6.6 trillion, the worldwide forex market in 2021 is worth $2.409 quadrillion. For well-informed investors and traders, this is an undeniably great time to be in the forex space.
Prosperity and Peril in a Forex Boom
Booms such as this entail a certain level of market volatility, but brokers and traders must be wary of black swan events. Two big names in the industry, sister companies Fair Forex and The Forex Library, understand the lucrative and precarious potential of booms like this. They believe that investors and traders need the right guidance in order to protect themselves during these unpredictable times. According to the Forex Library team, traders can set themselves up for success in the forex market by educating themselves, staying informed, and forging good connections.
Fair Forex is Conquering Rising Markets
Forex trading has recently become more popular in Asia, with China rising from the 13th to the 8th largest forex trading center in the world. To take advantage of this trend, forex brokerage Fair Forex plans to focus its efforts on this lucrative market. “This is an exciting opportunity for us to take on and conquer a growing market,” says Fair Forex founder Krissy Jones.
Crypto is another fast-rising market that Fair Forex has its eye on. The total estimated value of the cryptocurrency market is $201 billion dollars. Fair Forex can capitalize on the growing trend of cryptocurrency trading and investing. The institutional and professional trading market accounts for 90% of trading volume. The team intends on targeting this market with their raw spread and low commission offering of just $4 per $1m – one of the lowest in the industry.
Recent advancements in technology are providing many exciting opportunities for tech-savvy traders and brokerages. Many forex brokers only offer MetaTrader4 (MT4), but as Fair Forex offers both the MT4 and MT5 trading platforms, the company can attract new traders looking to upgrade to the newer platform.
Thriving in an Unpredictable Industry
Entrepreneur and philanthropist Krissy Jones founded Fair Forex after becoming disillusioned with the lack of transparency and fairness provided by other forex brokers. Fair Forex provides regulated forex broker services that are trader-focused, transparent, and fair; this commitment entails a trading environment that never trades against their clients. In addition, Fair Forex only charges fair spreads, commissions, and fees to trade and withdraw funds.
Established in 2018, the company operates worldwide with offices in London, Asia, Los Angeles, and the Dominican Republic. It has gone on to become a highly successful brokerage trading $billions monthly, with a 5-star rating by over 500 clients on Trust Pilot. Jones attributes Fair Forex’s success to the team’s expertise and the company’s commitment to fairness. She believes that a successful forex brokerage should strive for mutual success.
What’s Next for Fair Forex and The Forex Library?
The Fair Forex team has a clear exit strategy: an acquisition with another forex broker is on the horizon. As for The Forex Library, the team hopes to grow the business steadily over the course of the next few years. They hope that this strong, slow-burn growth will allow them to sell the company at a much higher value one day in the near future. Until then, both companies will undoubtedly be making the most of the forex boom.