WikiFX Academy: The Importance of the Trading Industry and Forex/Cryptocurrency 101

Two guys will be addressing the “Importance of the Trading Industry” and an “Introduction to Forex/CryptoCurrency Trading” on Tuesday, July 28, 2022. This event will be streamed live on Facebook through the WikiFX live (https://liveroom.wikifx.com/en/live/202206283211215881.html) simultaneously cast, which can only be seen on WikiFX. Philippines. Coach Max Genes is a pioneer merchant in the Philippines. He specializes in Forex trading. He's been a forex educator for over two decades, therefore the knowledge gained from this event will be very beneficial to traders and others who want to begin their trading adventure. Coach Jun Yec Yec, on the other hand, is a trader like Coach Max and has been working at WikiFX for quite some time instructing its users on how to utilize the WikiFX app on both web and smartphone and how the WikiFX app may be useful to its users.

What exactly is WikiFX？

Wikifx is a platform for searching worldwide company financial information. Its primary duty is to give the included foreign exchange trading organizations with basic information searching, regulatory license seeking, the credit assessment, platform identification, and other services.

Wikifx has created a big data solution that unifies data gathering, data screening, data aggregation, data modeling, and data productization using public data from government agencies, sophisticated sniffer systems, and scientific computer algorithms. Wikifx may then assess the supervision and risk levels of the associated organizations across several dimensions and give matching security solutions to individual users, corporate users, and government agencies.

Summary of the Trading Industry's Importance

According to David Frum: The present economic structure of America is built on free commerce. He claims it offers people unparalleled prospects for greater economic independence and success. He claims that trade produces new, higher-paying employment for both Americans and America's trading partners. Trade skeptics believe that the United States “trade imbalance” suggests that funds are being drained from the economy as a result of unfair foreign trade practices. However, if all financial transactions, including job-creating foreign investment, are taken into account, the imbalance disappears.

The second level of commerce deals with topics including exchange rates, environmental concerns, and labor norms. Those seeking “protection” at this level are not looking for special privileges to increase earnings. They are seeking relief from the cost disadvantage created by cumbersome regulations in the United States.

With a daily trading volume of around $6.6 trillion, the Forex market is the world's biggest trading market. This market arose as a result of the establishment of the gold standard in the nineteenth century and the United States dollar as the international reserve currency in the twentieth century. The introduction of internet trading in the 1990s made Forex more accessible and automated than ever before.

What are the distinctions？

While cryptocurrency trading began in 2009 with Bitcoin (BTC), it would be many years before the first exchanges opened. The market now has a daily volume of almost $100 billion, with the majority of it passing via exchanges. These markets are notorious for being very volatile and susceptible to manipulation.

Despite their obvious commonalities, these markets have significant distinctions. One of the most significant is the nature of OTC trading as opposed to trading on exchanges. Another difference is how these markets react to global economic forces. An exchange serves as the exclusive authority for buying and selling. There is no negotiation; just the parameters of the trade exist.

While

Cryptocryptology differs from conventional currencies, which are governed by governments and central banks. While they may be tied to other assets, the majority of them are not, and their value is derived from a mix of usefulness and speculative faith. The inherent utility of a digital asset may vary greatly, and the market is very competitive, with numerous initiatives competing for the same niche. Some may anticipate that fiat currencies may collapse; yet, they are much more tried and reliable investment vehicles than the bulk of cryptocurrencies now accessible.

Cryptocurrency trading is undoubtedly more of a “wild west” industry, with higher risks but the potential for big gains. Forex trading may provide more inherent stability, as well as a sector with deeper roots, infrastructure, and explicit regulation. With the help of this tutorial, you should be able to take your initial steps along any of these financial pathways.

The WikiFX app may be downloaded for free on the App Store and Google Play Store to learn how to browse the WikiFX app on mobile phones. (https://www.wikifx.com/en/download.html)