The Benefits of Trading Forex
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The benefits of Forex trading are very vast and when it comes down to it, the foreign exchange market is the best financial market to trade in. Let’s take a closer look at why this particular market is the best one out of all to trade in.
Forex is For Everybody
One of the big time benefits of Forex trading is that it truly is for everybody. For one, it does not matter in which country you reside in, because Forex trading can be done from everywhere. There are always trading platforms and brokers available in mostly every country out there. No matter where you reside, there is going to be a foreign exchange broker ready to help you trade.
Moreover, foreign exchange trading is not something where you really have to have a minimum amount of money. Unlike the stock or commodities markets, with just a few dollars, you can trade Forex. You can place very small trades, which means that you don’t have to be wealthy to trade it.
There are even many demo accounts and practice accounts out there where you can practice your foreign exchange trading without ever having to risk any money at all. The foreign exchange market truly is one where everybody and anybody can participate.
World’s Biggest Financial Market – Liquidity & Volume
Something else that does really stand out about the Forex market is the fact that it is by far the largest trading market in the world. Sure, the stock market is huge, and so are the CFD and commodities markets. However, they simply don’t compare to the sheer size and volume which you get in the foreign exchange currency market.
The foreign exchange market has over 5 Trillion dollars floating around in it. This huge volume and massive level of liquidity provides all traders, newbies and pros, with massive trading opportunities and the potential to make really big profits. When it comes to sheer trading volume and overall liquidity in the Forex market, it’s simply the best place to be to make massive profits.
Moreover, this also has to do with volatility. If you find some very volatile currency pairs, you stand to make massive profits. Sure, you have to do adequate research and analysis to find those super volatile pairings. However, when you do find those volatile pairs, and you place the right trades, the potential to bank a ton of cash is very real.
You Can Trade Highs & Lows
Another benefit of trading Forex is the fact that you can make profits whether the market goes up or down. This is usually not the case with other financial markets, such as the stock market. Yes, you can short stocks, but it’s much more complicated than placing a sell order in the Forex market.
Generally speaking, to make good money in the stock and commodities markets, you need the market to go up. In other words, when you buy stocks, to make money, you need the value of that stock to increase.
However, the foreign exchange market is a lot more versatile in this sense. Here, you can place both buy and sell orders, which means that whether the market goes up or down, if you placed the right trade, you can make money either way. Yes, you do have to perform the proper research and analysis before placing a trade, so you have a good idea of which direction the trade is heading in, but that said, trading highs and lows is a big benefit that you get here.
Nobody Owns The Forex Market
Yet another big benefit of trading Forex, something which makes it the best financial market in the world, is that nobody owns the foreign exchange market. Nobody decides how many stocks or shares there are, nobody is engaging in insider trading, nobody is price fixing, and so on and so forth.
The danger with the stock market is that the big companies often control prices, and they often form monopolies or oligopolies in the market. This means that financial markets, such as the stock market, don’t feature very much freedom or flexibility. However, this is not the case with the Forex market, because nobody owns it. It’s really the only financial market in the world that is truly free.
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The Market is Open 24/5
Something else which you may not know about the Forex market is that it is open much more and longer than other markets. For instance, the stock market, no matter which country, is usually open from 9 AM to 5 PM. This means that if you want to trade in stocks, you need to trade during those hours. Yeah, if you have a job or kids, it can be hard to trade when the stock market is open.
Yet, this is not the case with the foreign exchange market. Ok, so the Forex market is closed on the weekends, but other than that, it’s always open. The foreign exchange market is open 5 days a week, 24 hours per day. This means that even if you get home late from work, or finally get the kids to bed at a late hour, you can still trade foreign currency pairs to make profits.
Low Commissions & Transaction Costs
The other thing we would like to mention about the foreign exchange market is that costs associated with trading tend to be very low, much lower than say with the stock market. Now, the commissions and transaction costs will depend on the specific broker you have. However, for the most part, Forex feature the lowest commissions and transaction costs of all financial markets.
Benefits of Forex Trading – Final Thoughts
At the end of the day, there is no doubt about the fact that the Forex market is the best in the world. The benefits of trading in the foreign exchange market are very clear indeed. Now, if you truly want to become a profitable day trader, learning from the people at the Income Mentor Box Day Trading Academy is strongly recommended.
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If you would like to find out more about cryptocurrencies and cryptocurrency trading, go to our Cryptocurrency Explained section!
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