Online trading of foreign exchange market (forex) is an Open trade and market access that have proven to be one of the international accepted key drivers of economic growth and poverty reduction in countries at every level of development. The ability to trade forex globally using internet, smartphone, laptop, computer, etc has fostered more openness, stability, and transparency, which in turn has enabled unprecedented economic growth worldwide and contributed to uplifting hundreds of millions out of extreme poverty. Countries that allow and engage their citizen in online forex trading (international trade) typically grow faster and provide more opportunities to their people than countries that do not trade openly. Therefore, by offering people living in rural areas access to more affordable goods and services in forex trading sector of national and international economy, being open trade would also helps improve the livelihoods of lower-income communities.
The significant barriers so existedwhere extreme poverty and food insecurity are concentrated, that prevent them from reaping the full benefits of open trade, including poor and unreliable access to infrastructure and public services, high costs for goods, services, and transport, lower population densities, and poor connectivity; the issues that are especially prevalent in countries affected by violence and conflict, that limit their ability to benefit from the opportunities brought by trade.
In order to fully harness the potential of trade to advance the livelihoods of the 1 billion people who still live off of $1.25 per day, innovative solution of empowering people with forex trading knowledge with other facilities is needed among other solution that may proffer to address the constraints that limit rural communities from achieving greater economic gains. The online foreign exchange trading by individual at the comfort of their homes will:
- Increase competitiveness and give comparative advantages to communities traditionally left out of trade opportunities
- Improve the ability of rural communities to move across skills, industries, and regions
- Facilitate the integration of rural markets with the global economy. Thanks