In the last 20 years, forex has become one of the most active and world's largest trading markets. Its per day transaction is approx 6.1 trillion US dollars. It is expected that the market is poised to grow by $1.94 trillion during 2022-2026.
The word forex understand as the forex exchange, which is the global market where foreign exchange is brought and sold. This global market is open 24 hours, five days a week, and on most public holidays. The forex market has two levels -
Currency trading between giant banks occurs on the global interbank market. However, there is also an over-the-counter market where individuals can trade currencies or attempt to profit from fluctuations in the exchange rate by using online platforms, brokers, and Forex dealers.
Forex traders must provide quick, simple, safe, and reliable ways to collect funds from their consumers, given the ongoing annual rise in Forex trading since 2001. It is one of the most unsafe industries, so finding a suitable payment service provider and merchant account is challenging.
For these unsafe businesses, it is compulsory to have the best merchant administration. It means that forex merchants ought to need the best forex trading merchant account for their forex business.