The foreign currency exchange market transacts roughly $5.1 trillion daily, while the cryptocurrency exchange market is boasting daily trading volume in the hundreds of billion range.
The actual volume for the latter cannot be accurately calculated given that the industry is still scarcely regulated in many countries.
However, that does not in any way obscure the fact that a solid money-making opportunity exists within the Forex and cryptocurrency space for anyone who wants to grab a share.
For instance, one could make money off building a news media for the industry, running a broker firm like RoyalCBank, operating an exchange platform, or directly trading the underlying assets or derivatives via popular platforms.
We’ll shift our focus to trading, because it is one of the most common ways people make money off the cryptocurrency and foreign currency exchange market.
Note: the crypto and Forex market is generally referred to as the money market.
What is Cryptocurrency and Forex Trading?
Let’s define cryptocurrency trading first.
Cryptocurrency trading refers to the process of trying to generate profits (sometimes losses) from the volatility in the price of cryptocurrencies like Bitcoin, Ether or XRP.
Crypto trading is not to be confused with investing which often suggests buying the assets with the hope of earning returns from them in the long term.
Cryptocurrency trading is done on crypto exchanges that offer the assets that an individual wants to trade. These platforms also offer an over-the-counter (OTC) desk for fulfilling bulk orders.
What is Forex Trading?
Similar to crypto trading, foreign exchange (Forex for short) trading simply means transacting one fiat currency for the other, with the hope of making profits from the price differences.
Volatility in the Forex market is less violent than in cryptocurrencies as the Forex market is largely regulated in most jurisdictions.
Aside from individuals, financial institutions including commercial and central banks are big players in the Forex market.
Now that we understand what crypto and Forex trading means, you may already have come to the conclusion that one needs substantial knowledge to stand a chance of making money off the markets.
Well, that is true.
Making a profit off the crypto and Forex market generally requires a lot of effort and resources.
For instance, one has to invest a lot of time and money into understanding how the market works, otherwise, their investments would be no different from gambling.
Also, there is a need to regularly read Forex and crypto news, as these developments often shape price movements for the assets that you trade.
For instance, events such as the US-China trade deal or Britain’s exit from the United Nations affects the price of their respective fiat currencies (US Dollar, Yuan and the British Pound).
Similarly, the announcement of Facebook’s Libra crypto project led to massive gains for leading cryptocurrency, Bitcoin (BTC), and other alternative cryptocurrencies.
Additionally, one needs to be able to read charts of fundamental and technical analysis, which often serves as the difference between winning and losing trades.
Does that sound like a lot of work?
Well, there’s an alternative way to profit from both the crypto and the Forex market without going through all that stress.
Similar to the equities market, you can sign up with a trusted, experienced and professional broker to help you generate profits without having to trade the market yourself.
Using this approach has a lot of benefits:
- You can save costs on resources and time required to learn how to navigate the market like an expert.
- You can generate passive income for yourselves while spending time on your main occupation or on other things that you love doing.
- You will avoid the direct occasional mood swings and health risks associated with wild market movements in the wrong direction.
RoyalCBank is a forex and crypto broker owned and operated by Axent Sigma Ltd, a business registered in the Commonwealth of Dominica. The platform was launched by former equity and crypto traders with the objective of helping users to significantly improve their trading performance and returns.
What to Expect From RoyalCBank
Proven Track Record
The RoyalCBank cryptocurrency broker service has an unrivaled wealth of experience gained from years of failed and successful trading. Thus, customers can trust that risks will be reduced to the barest minimum, with profit sizes remaining substantial.
Excellent Customer Service
Although RoyalCBank’s primary customer support service is via email, the broker firm always maintains close communication with users. Any break in service often caused by holidays is reported on the site, and via email.
RoyalCBank embraces industry standards on safe storage of client fiat and crypto assets, and also maintain high confidentiality of these trusts.
While access to regular communication is guaranteed, this is done in a manner that saves the customer time while trusted brokers navigate the market. Little to no serious time is needed after the initial sign-up.
Regulation and Insurance
RoyalCBank is a member of the Financial Commission, an international body set up in 2013 to settle any dispute that arises from Forex, CFD, and Cryptocurrency trading.
Also to show its skin in the game, RoyalCBank operates a segregated account that acts as an insurance policy. This Compensation Fund entitles every client to compensation of up to $20,000 in the case of an unforeseen occurrence.
- Primarily, the broker’s support channel is via email.
- Accessing the RoyalCBank website from certain jurisdictions require the use of a virtual private network (VPN).
As highlighted earlier, there are two primary ways to make a profit off trading the crypto and Forex market: trading the market yourself or hiring a trusted broker to help you do so.
Self-trading requires a lot of effort and resources, conditions that are not ideal for anyone who is not willing to commit to mastering the art over a significant period.
On the other hand, using brokers like RoyalCBank offers significant benefits that are worth considering for anyone who is looking to diversify their investment by allocating funds to the money market.