As part of its constant efforts to actively participate in the largest regional and international events, conferences and exhibitions, Silwana Diamond Group, through its financial arm, Silwana Brokerage Company, participated in the Forex Traders Summit – Dubai 2022. The event which concluded on Thursday, March 4th, at the Ritz Hotel Carlton, Dubai International Financial Centre saw participation from experts of various financial industries and was an enlightening experience for investors.
Tharwat Gad, CEO of Silwana Brokerage Company, said that the company’s participation in the Forex Traders Summit and other forex exhibitions, financial market exhibitions and international conferences, aims to spread awareness among investors and clients, especially young people, who are new to the forex market. Familiar with the pace of the industry, he said, young investors need to be prepared for market risks and rapid cycles in the forex market. He said the best way to do so was training, practice and experience.
He stated that the participation is a part of the company’s strategic framework to expand the investment network regionally and globally, by exploring promising trading horizons. Events such as the Forex Traders Summit offer a chance to network with international and regional companies that provide similar services to a wide range of clientele.
The need for experience and skills
Tharwat Gad stressed that newcomers wishing to enter the forex market would benefit from courses and training programs that would prepare them with the necessary expertise and skills to understand the market. He impressed on the importance of studying risk management before investing in the forex market, to minimize risk and maximize profits.
He noted that the Covid-19 pandemic had an overall positive effect on the market because traders were able to invest efficiently from home. The past two years also saw an increase in new clients who were able to open digital trading accounts, engage with the market and reap profits from anywhere in the world. At the same time, the pandemic negatively affected governments and saw the decline of various global currencies, impacting many businesses, trade and investment companies, and global travel.
A 7 trillion dollar industry
The volume of trading and investment in forex globally has reached an estimate of seven trillion dollars, and is slated to see more grow in the future. Global dependence on e-commerce, remote work systems and more have facilitated this growth in terms of new investors and higher trade volumes. This indicates that forex trade could now control a significant portion of the global economy, influencing interest rates, key indicators, inflation, and more.
Concerns about trading
Speaking candidly during Silwana Brokerage’s participation in the event, Tharwat Gad also spoke about apprehensions people face before entering the field of forex and trading. Most notably, he said, the lack of knowledge, information and experience. The lack of clarity about the rules and conditions of the market, volume of losses and gains and more, were key reasons for new investors feeling reluctant to enter the forex market.
“Transparency is key”
On credibility in the forex market, Tharwat Gad said that transparency is a key value that is adopted by trustworthy companies. In addition to ensuring the company is fully licensed and permitted to practice forex trade activity, the would also be equipped with various withdrawal and deposit methods for companies. Technical support for clients in the form of periodic updates and reports, as well as established expertise in the field through publication of news, market updates and more are essential to legitimate and trustworthy businesses.
Trading made safe and easy
Silwana Brokerage is part of the Silwana Diamond Group of companies, and works to provide investors with vital global trading platforms to enable them to trade in an easy and safe way. In addition to providing investors with all derivatives of various financial instruments on one platform, the company also provides account opening services to access global markets. As an established and secure platform, Silwana also continuously updates investors with the latest information and analysis for timely decision making.