What is Forex and how it works?
Forex stands for Foreign Exchange. That means buying and selling foreign currencies like USD, EURO, CAD, and GBP and some commodities like Gold, Silver, and Petroleum as well. There are four major international markets for Forex. They are the New York market, London market, Tokyo market, and Sydney market.
Forex market never sleeps. It works 5 and half days a week as 24 hours a day. Over 4 trillion USD turns over on every working day in the Forex market. There are very clean and clear transaction systems. A large number of Govt. and established Non-Govt. financial institutions are participating in Forex Trading.
A few years ago only big financial institutions were eligible for Forex Trading. No retail participation was allowed. But now they allowed small investors for Forex Trading under an authorized Forex Broker. Now we can do Forex Trading from Bangladesh also.
Forex Brokers can be a big or small financial institution under the strict supervision of Govt. of the concerned countries. Any kinds of unauthorized or fraudulent activities will be punished by the said authorities.
Nowadays Forex Brokers are operating their business over the internet using various kinds of electronic money processors. Anybody from anywhere can invest with them by a small amount of money starting from the 10 USD.
Forex trading is a specialized job. There is a strong necessity of getting Forex Trading training called “Technical Analysis”. A large number of tutorials are available on Technical Analysis over the internet. Without getting Technical Analysis knowledge Forex Trading might be very risky. Some online Brokers have a demo account to practice the whole trading system for free.
Forex Trading from Bangladesh
This is a new topic on Bangladeshi online arena. Everybody wants to know how to do Forex Trading from Bangladesh. There is a good number of people are doing this kind of online currency business. This is a highly risky job for newbies. So, advanced training is strongly recommended as mentioned above.
A huge number of Forex Brokers are flying over the internet. But few of them are authentic. There is a big chance of getting SCAMMED. Everybody should follow a top-ranked Forex Broker’s review site to choose the most reliable one. Google search is the best way to find them.
How to invest or withdraw funds from Bangladesh?
This is an old song which will never stop. Fund withdrawing from Bangladesh is okay to some extent. But it is almost impossible to load funds legally to your online account from Bangladesh through any banking channel. However, some Bangladeshi Private Banks are issuing some Travel Cards. You can load funds through those Travel Cards which are not approved by Bangladesh Bank so far. So you may face any unpleasant situation doing such things.
But some alternatives are may be possible to arrange. If anyone has relatives living abroad who can load funds for you through Paypal, Moneybookers Skrill, AlertPay Payza or some other ways. Somebody works for freelancing jobs can also use his/her online income for Forex Trading from Bangladesh.
A few numbers of Forex Broker House or Franchise are starting their business in Bangladesh which is not yet approved by the Bangladeshi Financial Authority so far. They are offering fixed income plans too. But before any investment, everybody has to confirm that they are authorized in Bangladesh. Otherwise, any fraud can happen.
Forex Trading is always risky and challenging for anybody. But it could be done successfully by a qualified Technical Analyst. It is quite possible to earn a good amount of money by doing Forex Trading from Bangladesh.