Forex traders should prepare for a “new millennium” in 2017, according to a forex analyst.
Forex software, the forex calendar, and the stock market will all be “more active” in the future, said the head of UK-based trading company Ladex, which manages $6.7bn (£4.5bn) of market data.
The forecast comes as traders brace for the arrival of the World Financial Year, which begins on 25 March.
ForeX software has become the preferred tool for traders looking to trade on a daily basis.
Its features allow users to create their own trading strategies, and its price history is used to help investors trade the stock and currency markets.
Ladey’s forecast is in line with those of the Financial Times, which expects the stock markets to open on 1 March, but with the US market trading more slowly.
The forex market is expected to expand by nearly half to $15bn in 2017.
The FT expects the S&P 500 to reach $50bn, while the Dow Jones Industrial Average will rise by more than 50%.
Ladea’s forecasts come ahead of the release of Ladexi, the Forex Exchange and Trading software.
It is a software that has the potential to provide a better and more reliable platform for traders to trade.
Ladedx said the technology will help ensure the best market conditions are achieved.
LADEX has also said the platform will help traders manage their trading positions, adding: “This is a powerful tool for all traders, and LadeX is committed to supporting and enhancing this technology so it is ready for use by the new year.”
Forex trading has been a huge hit in the past five years, but the market is still in its infancy, with less than $300bn in trades in 2016.
In 2017, forex software companies are expected to release their first-quarter results.
Laidra, a foreX software company, said in February that the software was currently at a stage where it was not ready for prime time.
“While we do not anticipate any significant issues or delays with Ladexa, we do believe that it is in a very early stage of development and that it may not be ready for primetime until early 2018,” it said in a statement.