An individual performing any action or activity is somehow geared to achieving a particular goal. Today’s society revolves around the need to generate more income in a lesser amount of time. All that pushes people to work harder at their endeavors is gaining more monetary profits. Apart from the traditional jobs and businesses, there are other ways of gaining financial profit. Forex trading is an income-increasing medium a person can use that has a very long and rich history in society.

Although forex trading is legal in almost all regions and states globally, profit mongers commonly avoid this trading field because of its emerging unreliable community. The foreign exchange market has become home to some of the most underhanded fraudsters that one can find. Such scam artists are the reason why this financial field has gradually been given a bad reputation. Xtrend and Xtrend Speed are prominent names that come up when looking for companies that are trying to bring honesty and transparency back in the Forex trading world.

The Workings of the Forex Market

The Forex or Foreign exchange market is an international financial platform where investing parties trade currencies. It is one of the biggest financial markets in the world, with over $6.5 billion in trades happening each day. Although modern forex trading started in the 1970s globally, the history of currency trading can be traced back to as old as civilization itself. Ancient records have been discovered that have mentions of brokers in ancient Greek and Egyptian times. These brokers used to carry out trades of goods with silver and gold coins with the value determined by weight. Later, the Romans started minting currency initiated the practice of authorizing the monopoly of currency trading. Italians later adopted this administrative idea to create the World’s first bank in Monte Dei Paschi that facilitated and authorized all transactions.

Forex Trading took a definitive shape for the first time as a small area forex market in Amsterdam almost 500 years ago. This initiation of trading was widely appreciated and participated in by individual investors and occupants of Amsterdam. From there on, forex trading experienced a massive increase in trade volumes that helped it grow and spread firstly in all of London and then the world.

Forex trading in simple terms is taking advantage of the fluctuations in currency exchange rates through strategic financial actions for monetary gain. For instance, a person can invest and bet on the Euro versus the US dollar, and if the currency they choose raises in value, they get to reap the profits. The forex market grew precisely because of the minimal work required to gain massive profits. However, after becoming mainstream around the globe, many individuals took advantage of this financial giant to gain profits through underhanded ways.

Xtrend’s contributions as an online forex trading platform

The Xtrend and Xtrend online platforms are geared to bring ease of accessibility for people to this financially beneficial medium. Their goal is to create a trustworthy environment through complete transparency of operations and dealings. Many authorizing factions have observed that the forex trade market has seen an increase in fake forex gurus or companies in recent years. These fake experts promise a hefty return to the novice or uninformed public only to rob them of their money. Many other cases include these fake experts charging a huge amount to teach a newcomer in the trade the workarounds to becoming successful.

However, the only thing they are taught is unfactual information that can be considered dodgy at best. Xtrend is a company that provides an online platform that is certified and verified by many authorizing officials worldwide. Their options in trading include not only forex but also cryptocurrencies, metals, and many other assets as well.

Xtrend and Xtrend Speed are two affiliated companies that were launched consecutively in 2018 and 2020, respectively. Xtrend was founded by Rynat trading Ltd and is authorized by CySEC. It was developed to provide a smartphone-accessible platform that people could use at any time and place. After the success of Xtrend, its sister company Xtrend Speed was launched two years later under Rynet Capital (Pty) Ltd. This application was built to offer Xtrend’s plethora of trading options to a vaster audience globally. Xtrend Speed is currently operational and available to the residents of 170 countries globally.

Xtrend is based in South Africa in Cyprus. In 2019 Xtrend started its Social trading feature that came to be to help novice and veteran traders learn and gain further expertise in the art of analyzing the ever-changing market trends. Xtrend provides all of their services in multiple region relative languages to provide extra accommodation to native speakers.

XTrend’s ultimate goal is to achieve complete accommodation for the user base and help the global masses achieve their financial goals regardless of their lives or their profession. XTrend’s Online platforms let people indulge in profitable trades through platform-powered analysis regardless of whether they are at home or are having a break at work. Everyone can achieve their ideal lifestyles with the power of forex trading through Xtrend.

Disclaimer: No Deccan Chronicle journalist was involved in creating this content. The group also takes no responsibility for this content.