LONDON, July 2, 2021 /PRNewswire/ -- The COVID-19 pandemic may have kept retail investors at home over 2020 and 2021, but that didn't stop them from getting involved in the booming foreign exchange market. In fact, coronavirus is said to be responsible for an explosion of interest in forex. A rush of young investors flooded the market thanks to advances in mobile trading which have made it easier than ever for retail traders to join the fray of the foreign exchange sector.
The businesses at the forefront of this innovation, offering clients superior educational resources and pushing through best-in-class digital tools, scored a place in World Finance's 2021 Forex Awards.
Technology kick-started a revolution in forex, democratising access and ensuring the market is no longer solely the domain of investment bankers and brokers. But COVID-19 shook up the industry further, as a slew of less-experienced investors made their first trades in the sector.
Infrastructure upgrades have also evened the playing field between small and large forex firms. For instance, 5G technology helped boost mobile services, which offered smaller traders faster transaction speeds, giving their clients better access to global markets. These improvements have bolstered the outlook for the foreign exchange market, which relies on seamless connections between servers and data centres so that clients never face losses due to technological problems.
Through the upheaval of the past year, it is more important than ever for firms to educate their clients and provide them with sophisticated tools, such as risk protection software, automated trading programmes, and best-in-class analytics.
To learn how the winners of the 2021 Forex Awards embody these traits, check out the latest issue of World Finance, available online, in print and on tablet now.
World News Media, the parent company of World Finance, 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.
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SOURCE World News Media