Forex trading is one of thelargestmarketsin the world, with a turnover of 4 trillion dollars, per day!! Yes, that’s per day!
This market has expanded and has become this huge, in the recent years and mainly due to the revolution of technology and various technologicalinnovations. These changes have led many international traders, to have an easy access to the forex market and get into the trading.
Below are a few facts about the forex markets, which you might not have heard of:
Many successful forex traders make fair gains:
Yes, that’s the fact. Many forex traders don’t gain immediately in alump, rather they focus on analysing the markets. They take time to make small gains, keep them consistent and place trades.
Over a period of time, these small gains itself manifest as large capitals for the next investment. Such strategy will make you lose less, gaining more experience in the long run. People who run behind making profits the first time,
It’s an All-Time open market:
Forex trading happens all round the clock, and we mean it every word. Yes, it’s the only market that is open all 24 hours and 5 days in a week. So it’s 24*5!
Trading with the right broker is important:
Since the forex market has alot of opportunities to make a livelihood, with the right talent and little money, it's vulnerable too. Hence you are advised to choose a licensed and legit broker. Make sure that the broker is recognised and registered under the nations finance market association. A trusted forex broker can create multiple opportunities, while the illegal one can put you at risk.Also, keep your research options open and look out for a broker that has multiple services and exceptional customer service, since that’s the main contact point between you and the broker.
Keep your emotion at Bay, to attain greater heights:
It’s very common for a man to get emotional over money matters. To get excited about the profit and to get depressed over the losses, but it’s high time you stop and get over that habit or attitude.
Forex markets are most volatile and vulnerable due to the long opening hours and vast opportunities and too many brokers, over the most unpredictable market. Emotional people are seen to make decisions in haste, in a hurried manner, which will never get you enough in the market.
Markets are very volatile and it needs a lot of analysis to be done before you dig in. unplanned decisions and rash, hurried decisions are going to fetch loss and nothing more.
Make money both ways:
This might make you think how! You can make aprofit, both by selling and buying. In other markets, there is profit only one side, cos of the market type.
But, in forex, the market has multiple currencies trading simultaneously, which gives you profit on both the sides and in the best way.
Less transaction cost:
Forex market is claimed to have the low transaction cost when compared to any markets. The Commissionisn’t charged here, but only a small transaction fee is charged which is termed as aspread, which comes upto only 0.01% of the amount traded. This is very negligible and is affordable for all traders.
Forex trading has high leverages:
Leverages are money lent by brokers for a days’ time, to make you trade in the market. This is extended to forex trading, up to 400 times higher, than the regular markets. This type of leverage gives a freedom of increasing his/her potential to invest, rapidly and also reduces the level of risk to a minimal.
Mostly accessible online:
With the digitalisation, theforex market is now accessible from 2 basic things, your laptop or your mobile phone.
Yes, you need to access the forex markets now using a good internet connection over the either of the 2 devices, the Laptop r the mobile phone.
Minimum account balance is low:
With the forex trading account, you can open an account with a low minimum account balance. The newbies can start up the account with a small amount and grow their profile with the accumulating interest gained from the trading.