Date Posted: 2/20/2020 12:19:35 AM
Posted By: johndee Membership Level: Silver Total Points: 189
Online forex market has been booming in popularity worldwide in the past decade as traders abandon the conventional stock and futures market moving in their masses to forex trading. Just what is the attraction? Is the forex market the way to go? Truly, anyone who desires to trade can get to start and will enjoy trading the forex market. It is exciting and offer traders several advantages.Low entry barrierTraditionally, the forex markets were a preserve of large financial institutions, multi-nationals cooperations and very rich individuals. This was because the minimum lot sizes and margin requirements were very high. But times have changed with the popularization of online trading, lots size and margins have gone down drastically. Now you can open an account and start trading with a minimum deposit of $25, with online forex dealers offering 'mini' and 'micro' trading accounts.Low transaction costsOver the past few years with more and more online forex dealers competing for your trades, spreads have narrowed and commissions dropped dramatically. This has led to online forex trading being one of the most cost-effective trading vehicles available for retail traders as compared to common financial markets. For an individual who would like to earn extra income or perhaps would like to take a further step and make forex trading a main source of income, it does make it much more accessible to even someone who doesn't have a large start-up trading capital.The forex market never sleepsForex trading moves around the globe as business begins. It is a true 24hrs per day, 5 days per week market from Sunday 5 PM ET to Friday 5 PM ET. There are no set exchange hours, you can trade major currencies at any time as trading goes on around the world during different countries' business hours. This means there is something happening at any given time of the day or night and you can find an active pair to trade. Actually, each trading day is practically composed of three trading days wound up in one. Markets overlap as they open and close from Asia, Europe to America throughout the day. There are therefore always many people trading and you do not have to wait for markets to open leaving you free to trade whenever you like. If you have a full time job, you can trade after work, before work and on Sunday evenings.Forex market is extremely liquidUnder normal market conditions, with a click of a mouse, you can easily buy and sell at will and there is always someone in the market willing to take the other side of your trade. This means no matter what is happening in the market, you as a trader can take appropriate position and potentially profit. Also because of the market being highly liquid, it makes it typically very easy to get into and out of trades at any time. Unlike in other financial markets, you are never stuck in a trade, you can immediately respond to currency fluctuations whenever they occur day or night.Now, there you have it. Do you think online forex trading is something you would like to give a try? The decision is yours to make.
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