One of the most popular currency pairs in forex trading - EUR/USD - tumbled to around 900 Points in Percentage (PIPs) in just eleven days in March; a steep fall considering the monthly average range is 250-350 PIPs.
As a result of this volatility, some traders at global online forex trading service FirewoodFX have made excellent returns. One of FirewoodFX's clients booked a 55,000 percent profit in the space of just a week.
In an exclusive article for European CEO magazine, Chloe Christina, Multimedia Marketing Manager for FirewoodFX, discussed the trading successes of some of its clients. She explained that these are thanks to FirewoodFX's ultra-fast order execution. While the high volatility and low liquidity we've seen during the pandemic can be a risk for forex traders - increasing their exposure to slippage - FirewoodFX has made every effort possible to reduce that risk, working with top liquidity providers and offering fast order execution in a matter of milliseconds.
The forex market is the largest and most liquid in the world, accounting for more than $3trn of daily trading. Christina predicts that high volatility in the market will continue for the foreseeable future, until global economic uncertainty diminishes.
To read more about FirewoodFX and developments in the forex market, pick up the latest copy of European CEO magazine, available in print, on tablet and online now. www.europeanceo.com
World News Media, the parent company of European CEO, is a leading publisher of quality financial and business magazines, which enjoys a global distribution network that includes subscriber lists of prominent decision-makers around the world.
LONDON
Negative sentiment in the financial markets has driven extraordinary volatility in the forex markets this year.
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