There has always been a fascination with numbers and comparisons have always helped to put things in perspective.
Regarding the marketplace, there has been a very interesting evolution of transparency. Regulators, Brokers, and technology firms have spent millions of dollars and resources trying to catch up with this fast pace change.
Each asset class has its own trading cycle details, information, dates, data, and challenges. The Forex market is playing catch up as it relates to transparency and regulation.
In a world where “Size Matters” let’s just throw in some interesting numbers:
|NY Stock Exchange||30 Billion|
|Total Equities Market||200 Billion|
|Futures Market||450 Billion|
|Forex Market||5.6 Trillion|
So the biggest market in the world happens to be less regulated and transparent. This is exactly why you need to choose the right partner, broker, technology, and strategy in Forex.
I have worked in the industry for over 25 years and have been exposed to many aspects of the trading cycle across several asset classes. The Forex market represents a big challenge for the industry and for end clients as well.
Transparency will be your friend across several points of the trading cycle.
- From the process of opening your account to the full disclosure about the broker-dealer products and services.
- From the process of funding your account to the withdrawal process.
- From the access to pricing and spreads to the functionality and reliability of the trading technology.
- From your online access to your account to the detailed disclosure of fees and commissions.
- From the broker-dealer’s marketing material to the reputation of their workforce
Transparency Is The New Black
Make sure you pick a broker-dealer that has transparency as their business model!