Forex Trading in Egypt
Forex trading is rapidly expanding in Egypt since many young Egyptians are tech savvy and eager to learn new things. Egyptians are well known for their commercial spirit and forex trading comes in very handy for them.
People in Egypt are very familiar with the forex movements, as they experienced firsthand the devaluation of the Egyptian Pound. They know very well how much money can be lost or won when currencies change in value. Just imagine you would have bought 1,000 US Dollars before the devaluation in November with 9,000 Pounds, and then sold the dollars back into pounds after the devaluation for 17,000. You would have made a profit of 8,000 pounds just by holding the dollars for a few days.
Now such forex movements don't happen every day, but making money on the forex market is still possible, even when currencies move by only one percent, thanks to the leverage effect. By trading forex professionally with a forex broker, you can buy 100,000 US Dollars instead of 1,000 just because the broker will allow you to trade 200 times more money than what you have in your account if you trade on stable currency pairs such as EUR/USD.
This way you can make 1,000 dollars of profit even when the dollar appreciates by one percent compared to the Euro.
Forex Brokers in Egypt
As an Egyptian you have access to all the major international forex brokers.
We have selected the forex brokers that are most friendly with Egyptians and will allow you to profit on the forex market:
