About
The foreign exchange or “Forex” (also called the spot market) is the leading market on the planet with an average of $3 trillion traded every single day. That’s about 100 times of the $25 billion of the NYSE and more than every single asset class pooled (i.e. more than the bond, stock, equity markets together!).
The Forex billionaire players
George Soros gained international notoriety when, in September of 1992, he toke a chance of losing $10 billion on a single currency speculation when he shorted the British pound. He turned out to be accurate, and in a single day the trade produced a profit of $1 billion – at last, it was articled that his profit on the transaction nearly Stretched to $2 billion. As a result, he is well-known as the “the man who broke the Bank of England.
Warren Buffett is active in Forex market trading and has been for numerous years, in the 3rd quarter Of 2004, Buffett posted profits of $412 million from Forex.