Advantages of the Forex Market
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There are a number of advantages when trading forex. Find below the basic reasons why so many traders choose this market for their daily trading.
Forex or foreign exchange has many advantages as it is the largest financial market Worldwide with its $5 trillion volume traded on a daily basis in comparison to the stock market that makes $22.4 billion a day volume Any other investment would require a big amount of prior deposit but Forex traders can start trading with as little as $1 dollar and open positions of 1,000 units.
Forex Market is gigantic which makes it extremely liquid. Forex being a 24 hour market means that currency pairs can be bought and sold at anytime as long as the market is open and there is no bank holiday. This is considered a huge advantage as you can have access to your trading account money at any point and deposit or withdraw immediately depending on your funding method preference.
Additionally, in Forex, with small amounts, you have the ability to trade more money than what is your trading account. Leverage of 1:200 allows the trader to control 200 times more than the original amount in the account as for example: If you were to trade at 50:1 leverage, you could trade $50 on the market for every $1 in your trading account. This gives you a control in your trade of $50,000 using only $1000. Please note that Leverage can lead to big losses as well big earnings.
The Forex market can be traded at anytime and anywhere on a 24 hour basis. You have the ability to trade the Forex market on your phone or ipad. Trading begins in Australia on Sunday evening as soon as the market opens, and ends in New York on Friday when the market closes.
Last but not least, the majority of Forex brokers offer a big number of free promotions that traders can take advantage of to help them start their trading with low to zero money, practice their trading skills for free and gain valued experience while making profit at no cost. A few examples are "demo" accounts to help practice, Forex education, Forex news and technical analysis and no deposit bonus.