Worlds Best Forex Traders
When it comes to trading the financial markets, there is none bigger than the market of foreign exchange market. In 2011, it is estimated that more than $4 Trillion was traded every day. This makes the market of foreign exchange bigger than the US Stock and Options combined. It is a staggeringly huge market offering investors liquidity not seen in any other market. What’s more is the forex market is open 5.5 days a week, 24 hours a day.
The worlds best forex traders in the world will offer trades more than just the major forex pairs to trade. The majors are generally considered to be the most frequently traded such as the AUDUSD (“the Aussie Dollar”), USDJPY (“the US Yen), EURUSD (“the Euro Dollar”), GBPUSD (“the Pound or Cable Dollar”), XAUUSD (Gold) and XAGUSD (Silver). You could also include the USDCHF (“the Dollar Swiss”), the USDCAD (“Dollar Loonie or Dollar Canadian”) and the EURJPY (“Euro Yen”).
The best forex brokers in the world will offer traders the majors as well as cross rates (those that don’t involve the US Dollar as the terms currency) and what is known as exotics. Exotics are currency pairs that are less liquid comparatively against the majors. Exotics are currency pairs such as THBDKK (Thai Baht in Danish Krone terms), ISKNOK (Iceland Krona in Swedish Krone terms), EURHRK (the EURO in Croatian Kuna terms) and the GBPILS (British Pound in Israeli Shekel terms).
In addition to the range of foreign exchange pairs, the best forex brokers in the world will offer traders not just the spot instrument to trade but options as well. The forex market generally experiences as much volatility if not more at times than the stock market. It is therefore advantageous to the trader to be able to use options to potentially hedge their spot positions. Forex brokers who don’t offer forex options along with the spot market leave the spot market trader with only a stop loss and perhaps a guaranteed stop loss as their only means of risk management. Forex options allow the investor more flexibility in their risk management execution.
The forex market offers traders greater levels of leverage from 50 times leverage up to a staggering 500 times leverage offered by some brokers. Leverage is a double-edged sword. With greater chances of reward comes heightened chances of potential risk. Traders should look for brokers who offer a options on a wide variety of forex pairs.
1. Andrew Krieger
Andrew is a graduate of University of Pennsylvania, Wharton Business School. He grew to celebrity when he traded the currency of New Zealand known as Kiwi between values of $600 million to about $1 billion exceeding the currency circulating in New Zealand during that time.
2. Bill Lipschutz
Bill earned a degree, B.A, from Cornell College, Fine Arts. He then earned Masters in Finance in 1982. In addition to academics, He enjoyed reading anything he could find concerning the Forex and stock market. He invested $12000 in stocks. This turned into $250,000 in just a few of months, thanks to his wide stock market business knowledge. Nevertheless, he later lost all of his cash to stocks because of the unpredictable business behavior; after the loss he changed to a steadier trading: the forex.
At present, Bill is a famous forex trader. He made over $300 million in just a year by engaging in the field of foreign exchange.
3. John Taylor.
John graduated from Princeton University and commenced in financial market in the Chemical Bank. A year later, he became the bank forex analyst who proved a perfect chance for him to establish in forex world.
He owns FX concepts which is a currency managing company. He is considered a founder of computer-aided foreign exchange trading systems. These systestem were implemented to to aid people in coming up with forex models enabling traders to play well in the market.
4. Stanley Druckenmiller
Stanley begun as oil analyst for Pittsburgh National Bank. He graduated from the Bowdoin College. He closely worked with George Soros which was an advantage to Stanley, since he not only garner more than 30% profit in Quantum Fund but also contributed to a deal which earned him with Soros more than $1 billion.
5. George Soros
George is a graduate of London’s Economic School. He is a hero in financial field. He made $1 billion dollars in a single day from only one transaction. This later led to him gaining fame. He has authored many books discussing investing. He is a philanthropist as well, having donated over $7 billion to charity.