Crypto and NFTs have
Huge Potential to
Revolutionize Industries

The Exness Group is an international, award-winning retail forex broker founded in 2008. With a deep understanding of traders’ needs, the forex company provides accessible, stable, and reliable brokerage services through the use of modern trading and investment technologies. Clients of the Exness Group have the opportunity to trade forex currency pairs, precious metals, and CFDs, under some of the best trading conditions the industry has to offer, including instant withdrawal of profits and outstanding order execution. Wael Makarem, who joined The Exness Group in August 2021 as the Senior Market Strategist for the MENA region, has been in the financial services industry for almost a decade and has held positions as a trader, private banker and market analyst. At Exness, with his long-standing experience in the Forex and CFD industry, he conducts daily market analysis featuring the impact of important events taking place in the global financial markets, with a specific focus on traders in the MENA region. Al Bayan met Mr. Makarem and following is the interview conducted.

“ Exness is on a growth trajectory and our 1200+ employees are working hard to keep this pace”

* First, with the recent economic developments, where do you see the financial markets being influenced the most? Specifically, the markets in the Arab world?

– The world’s attention has turned to commodities, especially after the tremendous rally in oil prices and other essential commodities. We are witnessing significant potential and possibilities for shifts in power and diversification from dependencies. On the one hand, the West is exploring new avenues (and pipelines] to decrease its dependence on natural gas and oil while the Middle East is looking to diversify its commodity imports, especially wheat. On the consumer side, the prices of energies, metals and soft commodities have risen substantially, while policymakers are looking for ways to control inflation. The Middle East may not be significantly affected on the energy end, but the scarcity of soft commodities will be challenging. If these new developments continue to persist, they will set the scene in the markets and extend the volatility in certain asset classes while some traders may rush to safe havens.

* Where do you think profitable investment opportunities lie today?

– One can never really pinpoint where profitable opportunities lie and investment advice is not something we give in this manner. In general, all financial instruments provide traders with opportunities as they allow them to benefit from rising and falling markets. What affects the trading outcome for the most part is the personal trading style/strategy used by a trader, as well as their risk appetite. In terms of what is popular right now, there is generally a heavy interest in energies, precious metals, and commodities, all of which are heavily impacted by the geopolitical landscape. Another asset class that has been a hot topic in the financial world for a while now is crypto. Cryptocurrencies draw attention because of their price fluctuations, the continuous discussions on their real-world potential, the regulatory framework being discussed by policymakers, and the Central Bank Digital Currencies.

* What is your opinion on Central Bank Digital Currencies? Is it too early to see light? And what do you have to say about the crypto regulatory framework?

– The crypto space is still considered new and requires much deliberation and examination. Policymakers and central banks around the world are examining this space, not only looking for ways to create a regulatory framework around it but also contemplating the possibility of developing their own digital currencies, as an equivalent to their fiat counterparts. It is, on many levels, a complex matter, but we are seeing progress. It is undeniable that the financial sector is experiencing a significant transformation. This is not only visible from consumer interest, demand, and behavior but also from the business side. Tech and fintech companies, like Exness, are exploring the possibilities of crypto and blockchain, and these possibilities are endless. It may be too early to adopt crypto as a legal tender, as a concept and technology, but it looks like this day will eventually come; the key is to prepare for it and this is exactly what many countries and central banks around the world are doing.

* And how do you see the future of trading, in Crypto or digital currencies?

– This isn’t an either-or scenario. Both crypto and digital currencies have potential in the world economy. On the one hand, cryptocurrencies and NFTs, further to their existence in the markets, have huge potential to revolutionize industries and streamline processes and procedures. On the other hand, CBDCs (Central Bank Digital Currencies) will help with mass adoption, not to mention with regulating this space. Both have real-world benefits and both can contribute to the other’s establishment. CBDCs will help with mass adoption, and crypto will help with exploring new technologies and infrastructures. Furthermore, it is very hopeful to see policymakers taking the necessary steps to define this space and create the environment for digital currencies as a whole. The EU and the US governments are key players in this and the next few years are going to be crucial for both regulation as well as digital currency creation.

* What are your main goals for this year?

– We have just hit another record-breaking milestone by reaching $2 trillion in monthly trading volume for the month of March. Exness is on a growth trajectory and every single talent of our 1200+ employees is working hard to keep this pace up. We will continue our expansion plans, while we consistently focus on our promise to provide our clients with a frictionless trading experience. As a fintech company, we will, of course, invest heavily in new technologies and continue to explore the financial markets landscape. De-Fi, crypto, and blockchain are definitely topics which draw our attention. For this reason, we have recently collaborated with the University of Nicosia, the first university in the world to offer blockchain and crypto courses, to give Exness employees the chance to enrich their knowledge on the matter.