Qatar is another country that is not among the list of nations known for their foreign exchange markets. However, many people started paying attention this country because in the last couple of years it started measuring economic growth and therefore the local currency started strengthening its positions towards other worldwide known currencies.
Basically if you are a beginner trader any you are looking for a country in which you should start your forex career, then it is important for you to know a couple of things. First of all, it is never recommended to start trading with real money right away. Instead of doing this, make sure that you will find lots of educational materials, learn different strategies and keep in mind that experience is the most valuable thing when it comes to foreign exchange markets and trading.
However, Qatar is the type of country that you might want to start your career in. The official currency of the country is Qatari Riyal which has a currency code of QAR. The current rate of 1QUAR = 0.27 US dollars.
Top Brokers in Qatar
According to one of the latest economy researches, based on the GDP growth, Qatar is among the top 10 fastest growing economies in the world. This is really important for the country because it will attracts lots of new investors and as you know most people out there are already bored by the real estate investment and are looking for a new way to invest their money, and what could be better than the foreign exchange market?
The GDP growth of Qatar for 2011 was 19.97% which is definitely a huge success and a great number. The next logical thing that will happen is that the local currency will definitely start strengthening its positions towards other currencies and will become more stable. The inflation of the country is also low, which means that you will not have to worry about the parity of your money at all.
The main regulatory functions are performed by the central bank of Qatar. Many people think that it is not that easy to find forex brokers in this country, but this is just not true. Since the initiation of the economic growth of the country, lots of new investors settled in the nation.