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What Does The Future Hold For Forex Trading?
The forex industry is one of the largest markets in the world with daily average trade volumes ranging in the trillions. With such a large trade volume, it is a lynchpin in the functioning of the global economic order and commerce. Regulated predominantly by large financial institutions such as central banks and large corporations, the forex industry is a highly centralized industry with the retail forex traders making up a miniscule percentage of its trading volume.
But technology never bodes well for centralized organizations.
In recent years, several industries have been decentralized in the wake of technology making inroads and democratizing them in the process. With this being the case, what does future hold for Forex trading in Nepal, now that several technologies have entered the fray and are capable of disrupting the existing order?
What Does Future Look Like?
Advantages For Traders:
ECN is today the newest entrant in trading. It has improved the accessibility of trading and made it faster. With ECN trading, the role of forex brokers has moved from being a market-maker to that of an intermediary. As technology evolves, the role of brokers will gradually be taken over by automated systems
Knowledge Is Power:
Today, day trading is ever more dependent on micro factors than before. While technical traders still make up sizable segment of the market, the explosion of information on several markets and asset classes means that small account traders can engage in CFD trading in several emerging markets such as forex trading in Nepal.
Robots In Forex:
Due to algorithmic trading, more and more robots have entered the trading industry and are spearheading the trading activities. This means that the competition for humans is no longer other humans but robots. And since these robots run on codes, tomorrow’s traders will be gifted programmers and not financial analysts.
Due to several retail online traders entering the fray, online brokers in Nepal like WesternFX have focused their attention to improve the accessibility of the forex market to this new crop of traders. This could lead to fall in pricing and tighter spreads and more secure regulations in the industry.
The online trading scene emerging markets is lucrative for novice traders to step in. The future looks promising and is likely to be shaped in favor of the traders as emerging technologies like cryptocurrencies also gain prominence.
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