February 27, 2024

How to trust anyone in a USD 6 Trillion Forex Business?

foreign exchange currencies(Representational image)
foreign exchange currencies(Representational image)

Valued at around USD 8 billion in 2021, the foreign exchange services market is expected to grow at a CAGR of 8.2 percent to reach USD 15.78 billion by 2029. Being the world’s largest financial market, its daily trading volumes exceed USD 6 trillion. With several overlapping international time zones, it is a market that is open 24 hours a day, 5 days a week.

As per reports, considering 39 different currencies from 2001 to 2022, the daily turnover of the global foreign exchange market is around USD 7500 billion. The US currency and the Euro currency are the top performing currencies with the daily transaction volume for USD being 3 times higher than that of EUR.

With the market being unregulated, it is essential to invest with a partner whom you can trust. This is where the need for a trustworthy, well-experienced broker comes in. A forex broker should be regulated under the ambit of its country of origin. One should also consider a broker’s leverage and margin, commissions and spread, initial deposit requirements and the mode of withdrawals available. Being a volatile market, it is also essential to understand the currency pairs offered to expand the opportunities available in the market. This becomes even more beneficial when the broker’s trading platform comes with its own tools for technical analysis.

(Representational image)

DeltaFx is one such reliable brokerage firm that has been delivering professional trading services across the Middle East region since 2004. This multi-award-winning brokerage firm is regulated by several independent firms to ensure the highest level of transparency for its clients.

Today, DeltaFx is a member of The Financial Commission that protects its client’s interests. DeltaFx enables access to a wide variety of trading symbols, trading accounts, leverages and even the option to switch brokers without commission. It also comes with an option for free VPS for special customers for better trading. With more than 2,000 instruments on MetaTrader 4 and more than 1,500 cryptocurrencies on MetaTrader 5, DeltaFx is one of the few brokers in the world that ensures non-slippage trading services. Having won multiple titles across the world for its trading experiences and several services, a major chunk of credit goes to its team.

Omid Asefi, the CEO of DeltaFx, has ensured a reliable 24/7 customer support system. He has played a major role in designing and executing the broker copy trading system with a new approach. Under his leadership, DeltaFx has expanded rapidly across the Middle East. It has even contracted with new suppliers, therefore providing an ECN account with minimum spreads on the market. This year, Omid Asefi and his team undertook the task of upgrading the customer cabin for enhanced usability and improved the online dashboard on their platform to enable improved Business Intelligence (BI). With a new license from Metacod, the introduction of loyalty programs for special broker customers and the news bulletin feature for its customers, the popularity and reliability of DeltaFx as a broker is set to rise in the coming years as well. International Business Magazine, in appreciation of all the efforts and contributions from Omid Asefi and his team, has bestowed the title of the Most Influential  Financial Figure in the Middle East  2023.

Article by Ujal Nair



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