The U.S. is the dominant force in top 10 forex brokers in malaysia. Dollars. Euros. British Pounds. Japanese Yuns. And other “major global currencies”. Actually, major currency pairs can be called “majors”. Forex traders now look for trade opportunities in lesser-traded currencies. These include the Malaysian Ringgitt (Singaporean Dollar), Brazilian Real, and the Singaporean Dollar. These currencies are viable and much more profitable than the major currencies.
Different currencies can be associated with different risk factors. Singapore’s government has a reputation for having large foreign reserves and excellent fiscal policies. Singapore has experienced unprecedented success in recent years with its rapidly growing economy, educated workforce, and high level of financial stability. The value is rising for the Singapore currency. It is worth noting Singapore’s dependence on international commerce. This means that global downturns may be very harmful to Singapore. After 2008’s global economic crisis, Singapore’s GDP declined by more than 1 percent. This led to a decrease of value for Singapore dollars.
Forex traders also find the Malaysian Ringgit a very attractive currency over recent years. Malaysia, like Singapore, has seen enormous growth in the past decade. Malaysia is an international country. However, it also has a significant domestic market which is able to absorb some global trends. Malaysia is economically and financially stable, as opposed to many of its neighbouring countries. This is due to Malaysia’s oil wealth. These are the reasons why the Malaysian Ringgit is worth a glance.
Brazilian Real has been a very popular commodity in recent times. The Real’s value has nearly doubled since 2003 in comparison to the U.S. dollar. Brazil is now Latin America’s largest economy. Brazilian investors find it more resilient to global downturns as the economy is inwardly-oriented and not dependent on exports. Brazil’s attractiveness is increasing due to uncertainty on the global market. It is worth noting, however, that Brazil’s economic growth has slowed in recent years. Analysts see the Real as overvalued.