Written by in News on November 18, 2021
The foreign exchange industry comes with an entirely new vocabulary that you may not be familiar with unless you’re in the thick of it yourself. For starters, you might be wondering “what is foreign exchange trading?” You will hear this term in some form or another a lot when it comes to forex. You may hear foreign exchange professionals being referred to as “traders” or hear people talk about the act of “trading” itself.
In its simplest form, foreign exchange trading is when one currency is changed into another. You see, currencies are always traded in pairs, meaning that you are always selling one while simultaneously buying another. But, we’re willing to bet that this definition of foreign exchange trading is not what you’ve come across in the past.
There are a number of individuals around the world that endeavour to earn money through the buying and selling of currencies in the global foreign exchange marketplace. Some of these people do this full-time, while others dabble for investment purposes. There is nothing wrong with trading like this and it is legal, but the issue with this type of behaviour in the global foreign exchange marketplace is when people charge others and allege that they will increase their investments through forex trading.
The foreign exchange market is notoriously volatile. It can be high risk and high reward and it is almost entirely based on speculation. When someone enters the forex space with the intention of making money, especially in high volumes, it can be incredibly risky. This is even more so when someone else is doing it on your behalf.
At Shift Connect, we help our clients mitigate risk through carefully crafted strategies and constant analysis. We never allege to be a source of big cash outs or any types of revenue for that matter. Rather, we are a team of forex professionals who know the market through and through and can use our expertise to set up low risk, low reward strategies to ensure our clients are as protected as possible in the face of currency fluctuations.
Because we have such a wide client base, we are then able to offer competitive exchange rates and this is how we are poised to offer our clients savings in comparison to other foreign exchange and global payments methods.
It’s important to be wary of any agency or individual who is marketing foreign exchange trading services or claiming that they can make you large sums of money on the forex market. Remember, this market is incredibly volatile and traders lean heavily on speculation. We suggest you look to risk management rather than high risk.
To find out how Shift’s custom solutions can serve and elevate your business, get in touch today.