Top 5 Big Time Benefits of Trading Forex
There are a lot of people who became interested in investing in the Forex market ever since it became more open for small-time traders or retail traders outside multinational corporations and banks. But why is it grabbing so much attention nowadays? Here is the list of the possible reasons.
Perhaps one of the most common reasons for existing traders is the accessibility of the financial market. With the emergence of very reliable and easy-to-use trading platforms like MetaTrader, the accessibility of the financial market has been doubled. Online trading allows you to join the market with as little as a $50-$100 deposit. You do not have to pay a huge amount of cash to open an account and start trading. As long as you are consistent, patient, and knowledgeable, that small investment will start to grow. There are a lot of successful traders who started to trade small but eventually, their trading funds became huge and they are now trading at 6 or 7 figures.
Although very accessible, it doesn’t mean that the quality of the financial market is lessened. It remains the best market because it never disappoints those traders who have invested a huge part of their time to learn everything about currencies and slowly gained experience that helped them shape what they are right now. It also offers free demo accounts for those who want to get to know the market, without sacrificing their hard-earned money on the trial and error process.
Since the market is open 5 days a week, 24 hours every day, you don’t need to wait for the opening bell that signals its opening time to start opening your trades. The currency market is made up of different currencies of different countries all around the world, making it available for trade 24 hours. People with corporate jobs and even students are welcome to trade in the market.
Every investor is looking for a high profitability investment. This is probably the reason why people are considering trading in currency because of its profitability as the market has the potential to double your investment for a short while.
Unlike the stock market wherein you only speculate for the stock price to go up, in FX, you can profit even when the currency’s value goes down. You ‘buy a currency if you predict that it will go up and ‘sell’ if you think it will go down.
Trading in the FX market, all traders are equal. The market is enormous, you won’t feel as though it is controlled by one person or an institution. Everyone has the same, equal chance to profit in the market. FX cannot be compromised or controlled by a single individual.
Its vast number of transactions every day equals approximately $4 trillion. With its huge size, it is given that the FX market is also the most liquid market in the world. You won’t be worrying much that the price will move too far from the time you entered a trade until you exit it. All you have to consider is choosing the best trading platform and in the case of Forex trading, that would be MetaTrader 4.