There are many benefits and advantages of trading forex.
- No commissions
- No fixed lot size
- Low transaction costs
- A 24-hour market
- No one can corner the market
- Leverage
- Deep Liquidity
- Low Barriers to Entry
- Free Stuff Everywhere!
No commissions : This protects the seller from being liable for a commission in the event a sale does not actually occur.
No fixed lot size : In the futures markets, lot or contract sizes are determined by the exchanges. For example, a standard-sized contract for silver futures is 5,000 ounces.
Low transaction costs : The transaction costs associated with the operation of an input credit scheme include the costs of screening smallholders, distributing inputs, monitoring the use of inputs, and collecting the produce.
A 24-hour market : There is no waiting for the opening bell. From the Monday morning opening in Australia to the Friday afternoon close in New York, the forex market never sleeps.
No one can corner the market : The FX market is sufficiently liquid that significant manipulation by any single entity is all but impossible during active trading hours for the major currencies.
Leverage : It is when one uses borrowed funds (debt) for funding the acquisition of assets in the hopes that the income of the new asset or capital gain would surpass the cost of borrowing is known as financial leverage
Deep Liquidity : Because the forex market is so enormous, it is also extremely liquid. This is an advantage because it means that under normal market conditions, with a click of a mouse, you can instantaneously buy and sell at will. You are never “stuck” in a trade. You can even set your online trading platform to automatically close your position once your desired profit level (a limit order) has been reached, and/or close a trade if a trade is going against you (a stop loss order).
Low Barriers to Entry : You would think that getting started as a currency trader would cost a ton of money. The fact is, when compared to trading stocks, options, or futures, it doesn’t. Online forex brokers offer “mini” and “micro” trading accounts, some with a minimum account deposit of $50. We are NOT saying you should open an account with the bare minimum, but it does make forex trading much more accessible to the average individual who doesn’t have a lot of start-up trading capital.
Free Stuff Everywhere! : Most online forex brokers offer “demo” accounts to practice trading and build your skills, along with real-time forex news and charting services. And guess what?! They’re all free! Demo accounts are very valuable resources for those who are “financially hampered” and would like to hone their trading skills with “play money” before opening a live trading account and risking real money.
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