The trading industry has grown at a fast rate. After it was born, over 40 years ago, most people thought that it couldn’t run for long. Despite its challenges, the trading industry has grown very fast, to the astonishment of many. No one could see it reaching the trillion-dollar mark. Will there be another surprise in the future? Are we waiting for another industry shock? According to what is going on in forums, the industry will be much bigger, with everyone wanting to try it. However, predicting the trading industry is a challenging task. When you can’t predict what will happen in ten minutes in trading, predicting it for ten years might be impossible. Here are some perceptions.
1. The exploding popularity
Most people have learned about forex trading in recent years. Very few individuals knew about this trade and how it worked, but many people are now enrolling in classes and joining helpful forums to learn about it. Currently, computers are giving easy accessibility to trading, with tools and software that help individuals carry out their forex trading. Also, there is a lot of training and advertising going on, giving many people a chance to learn this trade. You can download via UseThinkScript.com to access some of these forums. The idea of getting rich while doing forex trading makes many people get into it. It is perceived that most of the world’s population will be trading in ten years to come.
2. The slowing trend of Forex trading by large institutions
Many people will want to join trading to earn some quick money while at home. However, the institutions that started earlier are slowly drifting away from this trading. Why is it so? Before the surge, there was a considerable trading volume and few trading institutions. Mostly, the market was available to only larger financial institutions, unlike now when everyone is joining the trade. Now computers and software have made forex trading get everywhere, even in remote villages. This situation has made governments and central banks slow down on trading, leaving the smaller institutions to take over. The slowing down of larger institutions will mean that the smaller institutions will control the trading industry in ten years to come.
3. Mobile Trading
Before then, traders used to visit physical shops and stock exchange centers to carry out this trade. After trading got introduced to software, the group then shifted from physical locations to their home, trading through their desktops and laptops. In recent years, trading gradually went to mobile devices. This situation happened after the introduction of smartphones which enabled trading companies to create convenient trading applications. Currently, there is a massive rise in using mobile apps to carry out trading. Mobile trading is now the leading online trading, taking over computers and laptops. With the expansion of mobile services, applications, and readily available internet globally, trading will entirely shift to mobile devices in ten years to come. With mobile devices, traders can receive price alerts and other vital trading information. This idea shows mobile phones will much simplify trading.
4. Economic problems will continue
Most trading is on currencies. However, some currencies are doing poorly in the stock market due to hard economic times and pandemics. These currencies include the Dollar, Sterling Pound, and the China currency, Renminbi. Statistics also show that the Euro might be in the problem too. The stability of the currencies will continue affecting trading until the political instabilities and unions are in place. When these issues don’t get solved, the situation might get rampant in ten years to come, affecting the stock market.
When the stock market started, only a few currencies were up for trading. The most-traded currencies in the world are the US Dollar, Japanese Yen, and the Euro. It might be impossible to see the US dollar getting replaced by other upcoming currencies as the most traded currency in the world. Although not easy, some countries adopt other currencies, including the Euro and the cryptocurrencies, to trade. Currently, most of the countries are broke, making the US dollar still reign. The situation doesn’t seem to change soon due to the coronavirus pandemic, which has changed ways of living, including trading between countries. This situation means the dollar will still hold its position as the most transacted currency, even in ten years to come. When the US dollar falls, the Japanese Yen might take its place. However, that’s not as easy as it seems.
Other changes expected in ten years are more automation of trading processes, accurate trading processes, and increased managed forex accounts. While many people are hoping to have one currency worldwide, such might not happen anytime soon. Trading on currencies and other commodities will continue as usual.