An Information seminar was held on global Forex market on Saturday at the University of Papua New Guinea, where participants were introduced to ways in which Papua New Guinean’s can benefit and participate in the global forex market.
Facilitator of the Seminar, Peter Kinjap says, Papua New Guineans can be members by registering online.
“Basically, they can go online, find their brokers, register and put in their credentials,” Kinjap said.
Mr Kinjap explained that global forex market is the largest and most liquid financial market in the world that operates between a network of banks.
He said, “The market is made available in a retail market where almost anybody can get engaged by brokers.”
Brokers are licensed by certain governments unfortunately. There are no forex brokers in the country, however there are brokers in Australia and New Zealand whom Papua New Guineans can access.
Kinjap added that brokers operate like banks giving access to individual traders.
Many people have been scammed online and so the information seminar was a way to help online traders avoid being scammed.
People can also benefit by getting registering with a licensed FX broker to earn profits, allowing professional traders to trade for you via a licensed FX broker to get commissions and get a copied trading results from a master trader.
Neki Tunu, a member of the forex market expressed that one good thing about the foreign exchange is that you can be able to learn and trade yourself.
Story published by Cathy Undaba – UPNG Journalism student
