7 advantages of being a forex trader
Foreign exchange is all the rage today. Everyone wants to get in on trends and make money! The liquid markets and huge profit window make Forex trading the perfect endeavour for both casual and serious traders. By buying and selling currencies, you can make a decent profit, and a huge one if you are really good. Unlike many trading markets, Forex is fully digital and comes with plenty other benefits. Let’s take a look at them!
Here are 10 benefits Forex trading brings to the table:
1. Global Market
The Forex market is a huge one and one with a global reach. Traders participate in Forex trading from all over the world. What sets this market apart from others is the fact that over $5 trillion get traded every day! This humongous value makes Forex incredibly lucrative. Combine this with the myriad trading techniques and it makes for a fun experience for all types of traders.
2. Easy to Get Started With
Forex trading is by no means an easy field. People lose thousands of dollars when they err. However, Forex trading is straightforward. As a beginner, you can pick it up as a hobby or a small side income and maintain a steady income! There are several brokers that give demo trading platforms for learning and let you start off with small investments that are safe and give a good learning experience!
3. 24/7 Market
A global market means you can trade whenever you want! Share markets for example, close within the day or within certain time periods. But with currency trades, you can pick a time you want. The markets open in Australia at 5 pm on Sundays and only close when the New York markets close at 5 pm on Fridays! So you have a huge trading window to profit in!
4. Profit More with Leverage
It is said that a good trader can turn $100 into $1000! This is thanks to leverage! Leveraging is when traders borrow some amount of money from brokers for profiting higher. So if you have a 1:25 leverage, you are leveraging $25 for every $1. If you profit, you will get 25 times the investment put in! Keep in mind though, if you lose, you lose just as big.
5. Liquid Markets
Risk plays a huge factor in any trading space. But with Forex trading, the markets are so liquid that you can buy and sell affects without much impact on their value! This means the risk involved in currency trades is lesser when done right.
6. Sensitive Markets
This is a double-edged sword in Forex. The markets here are sensitive to things like politics, economic events, calamities, trade deals and so on. Sensitive markets are volatile and can lead to both big profits and losses.
7. Neutral Market
The chance for unfair trades is close to nil in the Forex markets because no one controls it! The only controlling factor is the global economy. If the currency you choose to work with is from a healthy economy, you will profit!
If you’ve always wanted to get started with a healthy Forex trading career – now’s the right chance. Reach out now to WesternFX, the leading currency broker and find your success in the Forex trading markets! Call us now at +1-646-736-7401.