FOREX conference to discuss monetary crisis, trade via internet |
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By Sara Al-Rubaiaan
KUWAIT, Nov 19 (KUNA) -- Kuwait Forex Trading Expo and Conference will discuss Wednesday the world monetary crisis and trade via the internet.
The event, which kicked of Tuesday, will witness several sessions and lectures on its second and last day.
Head of Research at MIG Investments Richard Morrish will give a lecture entitled "Credit Crisis and Where We Are", OTA Dubai Center Manager Adam Kaye will talk about the five laws of trading and the universal indicators, while Joe Al-Hawa of CNBC Arabia will talk about the differences between forex and bourses.
On Tuesday, the conference discussed several topics, mainly the historic aspect of forex trading which was presented in a paper by Chief Executive Officer (CEO) of Arabia Trader LLC Osama Abdo.
Abdo said that forex trading expanded noticeably recently, after many countries lifted the ban on currencies as a result to the development witnessed following World War II, leading to the instability of forex price.
He added that 80 percent of the volume of transactions in the currency market is speculations that aim to get profits from the differences in currency exchange.
In 2000, the currency market became the largest market with daily transactions of more than USD 5.1 trillion compared with the US Treasury bond market, he pointed out.
The daily volume of forex trade is more than USD 5.2 trillion, 20 times more than the total trading of all the world's markets, Abdo said.
Meanwhile, Head of Middle East Sales at GFT Amro Abdu said investing in one trade account through the internet enables entering many markets in the Gulf, Arabian countries, Europe, and America.
It also enables trade in currencies, precious metals, oil, and natural gas in international markets, he added. (End)sar.risKUNA 191409 Nov 08NNNN
© Copyright Kuwait News Agency 2008.
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