Ever wonder why lots of people are transitioning from traditional jobs to being a forex trader, especially during this pandemic?
- 24 hours/5 days a week open market – A trader doesn’t have to wake up at 6:00 am to go to work. You can trade any time of the day set your own schedule for trading.
- Flexible workplace – You don’t have to go to an office. As long as you have a laptop and access to the internet, you can access your trading account wherever you are, even if you are on vacation outside the country.
- Leverage – You can trade with just a fraction of your capital through leverage. Although this sounds appealing to traders with only a small capital, it also has its disadvantages. Leverage can increase your gains, but it can also increase your losses if not used properly. Understanding risk management is crucial in every trade that you make.
- Liquidity – Among all the financial instruments globally, the forex market is the most liquid of all, with daily turnover reaching up to $6 trillion a day. This liquidity results in more price action in which educated traders can profit through the rapid price fluctuations.
- A wide range of currency pairs and commodities – allows the trader to trade currencies from around the globe. An educated trader knows which currency works best on a specific trading day or week with the proper knowledge of strategies, risk management, and how to use the different analyses that will benefit them in the forex market.
- Demo accounts – Before even capitalizing your account through a broker, you can test a specific brokers platform with demo accounts, which allows you to trade with play money. Demo accounts are significant for beginners to give them the forex market’s feel and practice different strategies before trading with real money.
- No market manipulation – The brokers, analysts, or even the banks can’t manipulate the forex market due to its massive size.
- Trading Tools – There are many platforms nowadays that have hundreds of different tools that will help a trader position his trades. Plus, thousands of tutorials around the web on how to use these tools.
- Accessible by every individual with a minimum trading capital – Brokers may allow an individual to start with a small amount. Of course, we understand that capital is essential, but you can quickly lose money without the right know-how.
There are a lot of other reasons how you can benefit from the forex market. The key to being a successful trader is to educate yourself first.
Don’t forget to follow and subscribe for more updates on forex news, analysis of the market, facts, trading strategies and more!
Are you interested to learn more about forex trading? SIGN UP now for our FREE forex webinar and reserve your FREE seat while it lasts
Learn to Trade Pty Ltd (ACN:138178542, AFSL:339557) provides general information and educational courses and materials only. This is not an offer to buy/sell financial products. We do not provide personal advice nor do we consider the needs, objectives or circumstances of any individual. Financial products are complex and all entail risk of loss. Over-the-counter derivative and foreign exchange products are considered speculative because they are highly leveraged and carry risk of loss beyond your initial investment, hence should only be traded with capital you can afford to lose. Please ensure you obtain professional advice to ensure trading or investing in any financial products is suitable for your circumstances, and ensure you obtain, read and understand any applicable offer document
The information contained herein (“Content”) has been prepared and issued by Learn to Trade Pty Ltd (LTT), and all intellectual property relating to the Content vests with LTT unless otherwise noted. The Content is provided on an as is basis, without warranty (express or implied). Whilst the Content has been prepared with all reasonable care from sources we believe to be reliable, no responsibility or liability shall be accepted by LTT for any errors or omissions or misstatements howsoever caused. No guarantees or warranties regarding accuracy, completeness or fitness for purpose are provided by LTT, and under no circumstances will any of LTT, its officers, representatives, associates or agents be liable for any loss or damage, whether direct, incidental or consequential, caused by reliance on or use of the Content.