Who doesn’t like making some money on the side through investing without even lifting a finger? Everyone likes earning extra and easy money apart from daily professional income. Forex Trading or foreign exchange trading is for the fellas like you if you are counted among this category of people. Forex trading is the largest financial marketplace in the world where trading of all the world’s currencies takes place. The banks and brokerage firms are linked through electronic networks to do business in the stock markets. The network allows them to convert currencies worldwide.
It became the chief and largest liquified financial market around the globe.
The currencies which are widely traded include British Pound, US Dollar, Japanese Yen, Swiss Franc, Australian Dollar, and Canadian Dollar. Of course, people don’t only engage in forex trading for extra income on the side. Those who are well-versed with foreign exchange, work full time in forex trading. As it has many benefits like convenient working hours, high liquidity, and trading on margin.
Benefits Of Forex Trading
The forex market can handle transactions of large volume even if it reaches 6.6 trillion dollars every day. It only denotes that sellers and buyers are always available regardless of the currency types. So, if the trader wanted to buy, there is always an available seller, and if the trader wanted to sell, there is always an available buyer.
There Is No Insider In The Trading Systems
Constant value fluctuations of several currencies are caused by economic change. Some traders may obtain the information before others get it. So, they can sell or buy it within the stock markets. However, the nation’s economy is accessible to every trader so nobody can take an inside advantage to anyone.
It Has Accessibility
Forex Trading has flexible working hours. It is operational for five days within a week and accessible for twenty-four hours. Trading time starts from 9 p.m Sunday to 10 p.m Friday (GMT). Trading can be done during this period. And as forex trading is a global market, the different active sessions in forex trading hours are advantageous to traders.
Forex Is Predictable
Trading in forex is less risky as it has more predictability. It always follows the market trends even the trends that are well established.
Less Investment and Leverage
The potential traders can open mini accounts even for a few bucks of dollars. Forex trading has high leverage like100.1. It only signifies that your assets can be controlled 100 times over our invested money. Leverage allows control of a large value of the currency by only having to deposit a small amount and this is what is also known as trading on margin. Trading on margin offers the convenience of putting down a small amount in order to command a much larger exposure but it is vitally important that you are aware at all times of the size of that underlying currency that you are commanding and that you are also aware of the risk that entails.
Trading in forex involves no commissions. The forex trading brokers can earn money by setting their spreads where they weigh the process between selling and buying currencies.
Forex Trading is considered one of the best systems in day trading. Since it deals with currency trades, it can have the largest volumes of trading. It can bring the traders higher returns within minutes. However, traders should be aware that forex trading needs a thorough research before starting it. As a trader, you need to clearly understand the systems involved in forex trading. It is also important here to look at the best forex brokers list providing the best forex trading systems.
Below are the top 5 forex traders
Admiral market is a leading organisation in the forex and CFDs brokerage industry. It helps you take control of your personal finance through solutions for spending, investing, and managing money. They aid to structure and manage your investments in a safe, secure, and simplified way through their forward-thinking technologies cutting-edge product offerings. Admirals market offers more than 8000 instruments including the most traded currency pairs, indices, and commodities.
XM group, an international investment firm that has the best expertise and resources to manage your investment goals, has advanced trading platforms. They provide flexible trading conditions and deliver well quality services in currency trading, along with CFDs, equity indices, precious metals, and energies. They offer pure credibility with their latest technologies to monitor the latest trends, tight spreads, and best execution.
FXTM is a global leader in online trading that engages in leverage trading, generates potential financial returns on both rising and falling prices across forex, indices, commodities, and shares. They offer full segregation of funds for retail clients as they hold their client’s funds with top-tier banks. FXTM has low trading costs and super fast trade execution. It is easily approachable as you get to choose from MT4 or MT5 on mobile, desktop, or web. They also provide free education courses and guides to help beginners in building trading skills.
FxPro is a growing trading platform that serves in more than 170 countries and offers CFDs that are Contracts For Difference on 6 asset classes that include Forex, Shares, Spot Metals, indices, Spot Energies, and Futures. It is an authentic company that is authorised and regulated by the CySEC, FCA, and SCB. It offers a huge collection of more than 2100 instruments to trade. It has a variety of account types and gives you the choice to opt from 5 different account types, on 4 different platforms.
Ava Trade is a reputed capital market company that is a pioneering broker in the online trading industry. They offer their services in trading on Forex, Cryptocurrencies, Stocks, Commodities, and indices. They have a range of automated trading platforms and EA compatibility and also provide competitive spread and leverage offerings. Ava Trade also gives you an innovative risk management tool called AvaProtect that protects your trades from possible losses.