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Linah

Why should I trade Forex?

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Hello, Forex trading has been advertised on almost every social media platform. FOREX is rocking. I have noted a great influence on FOREX, and I'm also interested. Trading is not so new to me, but I quite don't understand why it's being preferred by so many people. Advise me accordingly, please.
 

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Hello Linah,
Of course, people will want to trade in high-ranking platforms with excellent market prices. Forex has excellent brokerages and trading platforms, and therefore, gives you good reasons to deal with it. Trading forex is very profitable. You can make a living out of Forex trading. That one I can almost assure you. It's risky and yet profitable.
One of these reasons is that Forex is a 24-hour market, this is a good advantage because you can choose what time you want to trade be it morning, night, just whatever time suits you because this market never sleeps.
This market is also very liquid, so when the market conditions standard, you can immediately buy or sell since there will be someone ready to trade with you.
Also, the transaction costs in forex trading are low; this is a good reason why you should trade with Forex.

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Hi Linah,

Forex is a global market where traders all over the world exchange currencies. Every day several million to trillions are changed to different currencies. Due to its vast size, it is conducted online in a market known as an interbank market. As the online market is the norm nowadays, many local investors are moving to Forex trading for several reasons highlighted below

1 It Highly Flexible

Forex trading has attracted a good number of investors due to its availability 24hrs a day, five days a week. It is the only market where the business is during the day and even at night. Investors are busy people during the day and will enjoy trading at ease. Being online does not limit one at a particular location to trade, therefore one to merge it with another form of business or even job.

2 It Is Worldwide

It is the largest market in the world since several companies, such as hedge funds and multinational institutions, will require foreign exchange to facilitate their daily operations. As a trader being in a large market, you will enjoy the fact that no particular person or institution will control the market.

3. It Is A Transparent Form Of Trade  

The currencies involved in this form of business are eight, which are easy to convert. In forex trading, one does not face hidden charges. There are no clearing fees, government fees or even exchange fees

4.Its Easily Accessible

One can join or exit the trade at the comfort of your office or even home. Since the vital requirement to trade is a computer, internet, and about 100 us dollars. Here you will create an account and log out at will. Trade can be done anywhere as the android phones support several apps regarding the trade.

5.Highly Regulated

The brokers are regulated to avoid fraud and other related online crimes. All the countries contribute towards the safety of its members hence forex becomes the best in terms of safety

6. Transaction Fees Are Relatively Low

As earlier stated, one will trade directly on the web site; therefore, the high cost is website charges per transaction. Unlike other online trades where one pays holding fee, in forex, there are no such fees.

 

7. Very High Liquidity

Liquidity is the ability of a sale repeatedly occurring without necessarily changing in price. They’re very many transactions done in a day; therefore, the cash flow will be high.

8. Great exposure

When trading with international currencies, one tends to understand world laws better than a localized person. Here, one will develop a multination mindset.

9. Growth opportunity

Many traders have not been able to master the trade. Therefore there are significant opportunities for those who will learn the business. These are, being managers, account owners, or even trainers to the other traders.

10.Online training materials

Although the trade is not accessible, it is one form of business that offers free online training materials on how to do business and an excellent support team.

Having discussed the reasons, one can see that the forex has more opportunities than local trade. It is also safer and more rewarding to a multinational minded investor. However, it is advisable to learn the business before investing as it involves nature.

 

 

 

 

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Great question,Linah,

Investors are leaving other markets for Forex. But what makes the industry so attractive? First off, the market is accessible thanks to its low capital requirements and transaction costs. Since they benefit from spreads, most providers don’t impose brokerage, government, exchange, or clearing charges.
The industry’s high leverage also facilitates huge contract values from small deposits. Taking the case of a 50:1 leverage, an investor can purchase or sell $2,500 in currencies with a $50 deposit. Moreover, the volatile market lets you offload assets at a profit. The fact that it runs day and night also makes it suitable for part-time traders.
Not forgetting the high liquidity. With its numerous participants, it’s impossible for single players to determine market values for long periods. The good news is most brokers are controlled by several bodies making Forex less prone to scams. Additionally, newbies can polish their abilities with a demo account.
 

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