The Most Popular Third World Country In Trade

In the past few decades, the financial world has undergone many changes. With the popularity of the Internet, online trading has become an industry with huge trading volume and scale. The Bank of International Settlements(Switzerland), headquartered in Zurich, Switzerland, reported that the average daily foreign exchange trading volume in 2016 reached 5.1 trillion US dollars, which is a major achievement of the industry.

This growth in the foreign exchange trading market is mainly driven by technological development. Decades ago, only a few people were able to access the Internet and the required hardware technology with high quality. However, as technology companies began to invest more and more in the development of computers and other network communication technologies, accessibility and affordability increased significantly. Therefore, more people can trade online now than ever before. The trading volume and growth data provided by the Bank of International Settings greatly reflect its impact.

The industry has made effective use of technological progress. It has built a variety of easy-to-use online trading platforms, attracting millions of people around the world. Because of its simplicity, many new users can successfully trade without a large amount of capital. Surprisingly, 9.6 million people worldwide are currently online traders. This is a huge and increasing number.

However, many people believe that online trading is only successful in developed countries and is widespread. This misunderstanding is mainly because rich countries have better infrastructure and more specific services, and citizens can easily try new things such as foreign exchange trading. More and more people around the world are trying to create new sources of income for themselves and their families.

But they are basically not focused on the West. Many developing countries and third world countries are home to the most prosperous trade communities in the world. This breaks the misconception about the capacity of the economies of the third world and developing countries, especially in the area of trade.

Combining finance and technology, the financial technology industry has also achieved development trends in developing countries and emerging economies. In particular, the number of mobile bank users in India ranks first in the world. The vast majority of Kenya uses electronic banking services to pay water and electricity bills and other financial transactions.

Many people do not realize that investing in the infrastructure needed to support digital services is much smarter than opening offline branches. The 21st century has given us the opportunity to stay away from dust and improve productivity. Therefore, more people will have the opportunity to actively participate in economic activities, promote national development and increase personal income. From the following you can see that trade in some developing countries or developing countries has become popular.

Republic of South Africa

From 2017 to 2018, the African online trading market grew from 1.3 million people to about 2 million people in just one year. The largest center of the African continent is South Africa, which in fact represents the vast majority of online traders in the region. South Africa has been a technology and financial center in recent years, and this boom in South Africa should not surprise anyone. In recent years, platforms with comprehensive trade information of South Africa have risen rapidly. They listed the growing number of the country’s top foreign exchange brokers. The list was very short in the past, but it did not grow rapidly as more and more agents in the United States succeeded globally.

although South Africa and its government face huge economic instability, online trading is indeed a leap forward industry. As one of the richest countries on the African continent, online trading has successfully established a solid user base. Especially in Johannesburg, Cape Town and other major cities in South Africa, more and more international companies have opened offices. Their goal is to bring in young talents from this rapidly developing country.

India

India’s economy is one of the fastest growing countries in the world. China is experiencing a similar transformation to China, with its economic growth rate soaring. The country attaches particular importance to harnessing the absolute potential of technological development through investment in digital services and education. India is also one of the countries with the highest rate of e-banking users. This shows that the population of the country is gradually adapting to the modern environment. As a result, online trading has become popular among Indian nationals. At present, there is no exact number of online traders in the country. However, according to the 2016 study, India is estimated to have 590000 people. The number will be much higher in four years.

Indonesia

This country across Asia and Oceania is one of the largest online trading centers in the world. These islands have good Internet access and are quite free in this field. However, one of the main factors promoting Indonesia’s online trading market is different from the general factors. The problem is that Indonesia and Thailand are also centres of diaspora around the world. People are attracted by the great climate and low prices. Research shows that due to the flexibility and remoteness of online transactions, people’s attention has shifted from major financial centers such as London and New York. Only about 5% of the world’s online traders live in major financial centers. Countries like Indonesia have effectively attracted thousands of people’s attention and allowed them to migrate and set up their own workstations in countries with warm economies in the region.

Countries that have just developed financial systems have an unprecedented opportunity to start from blank pages and implement digital solutions from scratch. This makes such countries much easier. Because in more developed countries, physical services are more perfect and difficult to replace.

As far as online transactions are concerned, the main clusters are still located in developed economies and western regions. The United States remains the largest online trading center country, with more than 1.5 million active users. In contrast, the trade quotients across the continent are the same. But in terms of regional figures, Asia is in the lead. The African continent has about 3.2 million online traders, making it the most intensive online trading market in the world. Asia and Europe follow closely, and Africa is the world’s third largest online trading market. Although in Europe, Asia and Africa account for almost half of all online traders. Considering that most of the countries in the above regions are low development countries or emerging economies, their great contributions are obvious.