With globalization and advancement in technology, there has been an increase of people who visit different countries of the world. Ever traveled to a foreign country yourself? If you have, you have probably found out that the currency of the foreign country is different from that which you use in your country of origin. In the foreign country, you may discover that your country’s currency cannot be utilized in any transaction. So you will be required to look for a foreign currency exchange booth either at the airport or a local bank. When you decide to return home, you will also exchange the currency of your money. Statistics show that the foreign exchange market has a trading volume of over $5.3 trillion per day.
In the past, people used simple coins in foreign exchange. In 2009, bitcoins were made and became popular in the foreign exchange market. This is because they are not controlled by any government. In 1994, came the introduction of online Forex trading thanks to the emergence of the use of the internet. A person only requires a computer or phone with access to the internet to get online Forex exchange. Companies specializing in online Forex have been established. An example of an online Forex broker is Mib 700. One can access their services in Mib 700.com.
Over a decade ago, Forex trading was a preserve of big financial institutions and skilled traders. The Mib700 is one of the good forex brokers. A trader can register and open an account with Mib700. It has been advanced using the ground-breaking technology of Meta Trader 5. The Meta Trader 5 gives traders numerous inbuilt tools to assist them in the technical study and expand trading prospects. Also, it provides automated trading system also commonly referred to as trading robots which is a platform for Forex, Stocks, Futures and CFDs. Meta Trader 5 is easy to browse and use. A mobile app for Meta Trader 5 can be downloaded by an iOS and Android user. A trader can view charts, timeline, quote prices and his assets. The charts are of great help to amateurish traders as it will help them understand the financial market.
Categories of accounts under Mib700.com
There are three namely:
- Premium – $ 9999 +
- Gold – $ 999-$ 9999
- Standard – $ 200- $ 999.
Every account has its own advantages. These benefits range from market analysis, bonuses to education packages. However, the more one spends in an account, the higher the benefits as well as profit. Also, newer traders are recommended to use a practice account to acquaint themselves with the platform first.
Advantages of using Meta Trader 5
o It permits two stop orders, two market orders and six pending orders.
o Provides security features – the trading time and date are encrypted.
o Analytic tool offered by Meta Trader 5 assist the traders to comprehend the complicated market trends.
Online Forex has become very popular in the world today. By going with the statistics, the Forex exchange market is one of the leading industries in making money today worldwide. Any potential trader who plans to venture into online Forex should first conduct due diligence on the online Forex broker first. To know more about online Forex visit the following site Mib 700.com.