If you have time or money but do not like to rely on working for others as sole means of earning income, you might want to consider Forex trading. Here are 7 main reasons why you should start doing so.
1. Monetary Leverage
Forex trading offers monetary leverage.
This means that you can begin trading with a low capital outlay to dominate a large currency position. You can trade for a standard $100,000 currency lot by with just $1000.
However, some Forex brokerage firms permit even less than that by giving you up to 200 times the leverage. That is with only $100 capital outlay, you can control a 200,000 unit currency position.
2. Lower Transaction Charges
Compared to other forms of investment, Forex trading has lower transaction charges even though if you possess a smaller account or trade in small volumes.
3. Market Transparency
Forex provides market transparency which leaves no information hidden from public.
This is a huge boost and advantage to everybody as what you see is what you get without any interferences of unexpected turn of events. This also serves as a win win situation as it enables all traders to manage their risk and execute their orders within seconds if they wish to prevent further losses during trading.
4. Buying Or Selling Whether The Market Is Going Up Or Down
Unlike stock and shares, you can trade by buying or selling in Forex whether the market is going up or down.
Flexibility in timing is another reason why you should choose Forex trading.
Due to its digital currency exchange worldwide, Forex never sleeps. Since it is operating 24/7, you can enter or exit a trade whereever or whenever you like so long as you have PC and internet access.
You can even trade from your iphone or ipad.
6. Automation Tools
With these in place, the days of relying on brokers or sitting in front of your PC all the time will soon be over.
If you trade with automation tools whether they are web-based or software systems, you will finding trading forex to be much easier, more profitable and less stressful.
7. Unlimited Earning Potential
With the right education and training system in place, your earning potential in Forex trading is unlimited.
That makes Forex such a huge financial market even when compared with equity, futures, options and stocks markets.