As if to fly in the face of convention, Betsson has formed a partnership with forex trading company xForex. Forex is the name of the foreign exchange market for currencies. In the world of commodities trading, the Forex market is the largest market in the world. Be that as it may, the volatility of the forex market is so fierce that many experts are of the opinion that forex trading is more or less gambling.
But what casino lets its customer bet with their money. In Forex trading, a $50 deposit can control $50,000 in trading capital. The customer gets to keep all the profits from trading with the Forex company’s money. While the volatility of the market does mean that fast shifts in direction are common and a trade can be wiped out pretty quickly.
The perception that this is gambling has given forex trading a bad name in some commodity trading circles. Betsson has doubled down on the perception and formed a partnership that will give their customers access to one of the best forex trading platforms in the business. In addition, the same practices that guide chart traders in other commodities are used in trading forex. The candlestick charts are read like tea leaves just like with stocks.
Unlike stocks and other commodities, currencies are traded in pairs. For example, the US dollar is paired with the Euro. When the value of the US dollar increases, the value of the pair decreases. When the value of the Euro decreases, the value of the pair increases. The pair is expressed as USD/EUR. All currencies pairs are represented with the same nomenclature.
Forex markets are also beginning to integrate cryptocurrencies into their offerings. USD/BTC is the pair that is traded between the US dollar and Bitcoin.
Betsson’s partnership with xForex will give their vast customer base an opportunity to participate in the fun and exciting world of trading currencies.
Forex trading is a good match for a gaming site. Both require skill along with the ability to make decisions in a fast-changing environment. Many day traders in the stock market shy away from the volatile Forex market because to them it is more like gambling. Yet, to the person used to gaming, Forex offers similar excitement with somewhat less risk from the point of view of those who have profited from Forex trading.
While the odds favor the house in gambling at less than an even spread, trading on Forex can be done with the odds turned slightly in the favor of the trader. That’s because information can take the even odds that something may go up or down and make them ever so slightly predictable to the advantage of the trader (this is even with a spread).
With the same kind of nerve needed to be a success at the gambling table, one can make money trading Forex. Price action moves 24/7 without much of a slowdown. It’s always daytime somewhere and money is always moving.