The benefits of trading Forex pairs in decentralized finance

cointelegraph.com:

Cryptocurrency volatility attracts a lot of traders looking to convert price fluctuations into profitable deals. Nevertheless, many traders still prefer to speculate on the price of traditional assets, mainly foreign exchange (forex) pairs. The daily turnover of the global forex market hit $7.5 trillion in April last year, according to data provided by the Bank for International Settlements (BIS), making it by far the largest market out there.

Thanks to leveraged trading platforms, crypto enthusiasts can get synthetic exposure to this vast market directly on-chain. Some of these decentralized venues enable users to trade a wide range of asset classes, including crypto, forex, stocks, bonds and commodities. While the price moves of most Forex pairs pale in comparison to the wild fluctuations of crypto assets, traders can benefit from the leverage feature to multiply potential gains, although they should be ready for higher risks.

Here are some of the reasons why many traders prefer decentralized leveraged forex trading:

Many traders who favor traditional assets still prefer to trade on-chain. Blockchain offers some unique benefits that can improve the trading experience.

One of these decentralized leveraged trading platforms is gTrade, which was developed by decentralized finance (DeFi) project Gains Network.

gTrade hosts multiple cryptocurrency pairs, but traders can also get synthetic exposure to traditional assets, including forex pairs, commodities, stocks and exchange-traded funds (ETFs) that track major indexes.

Thanks to gTrade, users can trade crypto and Forex from a single platform that also has a user-friendly interface and many built-in features.

gTrade hosts derivative-like synthetic products tracking the price of