Over the years, the forex industry has experienced a significant growth especially in the Southern African region. The reason for this growth is not far-fetched. It is basically owing to the proliferance of retail level brokers allowing minimal capital, as little as a dollar to invest in trading accounts. Because of this, many individuals can afford to delve into the industry hoping to make huge profits.
Also, learning the idea of trading is simple, and gives individuals the opportunity to be able to invest and place trades, regardless of age or academic background. All this happens without the actual understanding of what drives the market and its future outlook.
Trading also comes as a mode of gambling for some people who have only two options to either bid or buy. Well, there is a lot more to understanding the forex market than all of this.
Modern day technology has helped in the widespread of Forex trading. The young and old see others getting wealthy (overnight wealth in most cases) through Forex investment and they get motivated to do same.
As much as Forex trading could be sweet and rewarding for the lucky ones who know their ways around it, some brokers however, are just formed to capitalise on the ignorance of beginners through malicious practices. Forex investment is profitable, but then, trade with caution. Remember, only invest with the amount you can afford to part with in case things go south.