Currency markets are the largest and most liquid financial markets in the world. They are the arena in which a nation's currency is exchanged for that of another at a mutually agreed rate. The market was created in the 1970's when international trade transitioned from fixed to floating exchange rates.
Traditionally, Currency markets have been the preserve of banks and larger financial institutions. However with advances in technology, and the global nature of the market, it is now possible for traders of all levels of experience to take part in online currency trading. It offers traders huge opportunities to benefit from fluctuations in the currency markets and eliminate underlying foreign currency fluctuation risk arising due to reasons such as commodity trading, international trading, frequent overseas travelling, close correlations with equity indices and international investments.
As such, it has been referred to as the market closest to the ideal of perfect competition, notwithstanding currency intervention by central banks. According to the Bank for International Settlements as of April 2010, average daily turnover in global foreign exchange markets is estimated at $3.98 trillion, a growth of approximately 20% over the $3.21 trillion daily volume as of April 2007. Some firms specializing on foreign exchange markets had put the average daily turnover in excess of US $4 trillion.
Currency trading volume in India has now reached the 1 trillion INR mark on a daily basis. Presently four currencies are traded viz USD, Euro, GBP and Yen.
We being one amongst the top associates of Religare, give you the following advantages:
Instant service of currency trading with relatively less TAT compared to industry standards.
All Indian resident individuals and Non Individuals can open accounts in currency trading.
Backed by a strong pool of highly skilled research analysts, we offer varied research products and services.
Dedicated Relationship Managers and Dealers for facilitating
trading and post trade needs.
Browser and ODIN-based software for online trading platform.