Trading or doing business in any financial market can be challenging. Forex market, which is the largest market in the world, exceeds a daily volume of $6 trillion. The global marketplace with high liquidity offers ample opportunities for traders and investors to make profits by currency trading.

Major participants in forex markets include commercial banks, money managers, and other financial institutions. Individual traders, who form a small portion of Forex, are mainly involved with day trade and speculations. The forex traders hedge against international currency and diversify portfolios when making foreign currency payments.

Today, the financial markets have become a lot more accessible to more people, and at the same time, it has become more challenging.…