There has never been an easier and more appropriate time to consider joining the Forex market, than today. For decades up to this point, the industry had been restricted to individuals and institutions with large capital resources, capable of investing large sums of money to make incredible amounts of profit. Though more recently, with new technologies being introduced into the world, private persons such as you and me are able to start trading on the market and you don’t even need a few hundred thousand dollars to get started. So, I just want to say, you have great timing to start considering the idea.
If you are a beginner you might first need to learn a few things, but that is not a problem at all. Eventually, you’ll be able to become a full trader with nothing in your way other than the capital limits you have imposed upon yourself. You will be able to apply different strategies, different timelines and work any time you want to make the money you want and achieve the goals you set. The Forex market is one of those few things in the world that let you be free in the way you do things. When you work, how you work and why you work are all up to you. These are some of the reasons why Forex the best market to be joining right now. Though these are a bit general, so why don’t we get into the more detailed stuff right now?
What even is Forex?
Forex is a combination of two words: Foreign Exchange. So when we talk about the Forex market, we mean the market where all of the international currencies are being exchanged for the sake of profit (or in the case of some people, loss). Some of the most successful Forex traders have made millions, if not billions, of dollars over their years of trading foreign currencies. To trade on the market you create certain currency pairs that you exchange into each other when one of them is high or low and make enough cash to call profit. The thing is, you probably won’t be making millions of dollars right away, but eventually, you will be able to make enough money to become a millionaire. The secret to becoming a successful trader is not as complicated as some people think.
Today the Forex Market has a turnover of Trillions of dollars per month, because of all the new entrants into the market, as well as all of the largescale institutions trading. Joining in on this trade would be a smart way to start making some extra cash on the side and maybe, someday, making it a day job for a bit and then just retiring. Whatever your goal and purpose for looking into the Forex market are, you could not have picked a better time to do so, as the market’s turnover has grown significantly even compared to last year. But what are the reasons why Forex is the best market for you to join? Well, let’s get into the details.
It has never been so easy to start: Accessibility
The foreign exchange market is currently saturated with Forex brokers looking to get more and more people into the business. Because of this, the ease of accessing the market has risen to a point it has never been at before. The ease of accessibility has lowered the bar for what you need significantly. There are some brokers out there offering you a chance to join the market with as small an initial deposit as fifty dollars, which is pretty preposterous. If that is not satisfactory enough, some brokers even promise to give you an extra bonus amount of money for signing up with them. To be honest, there are even those brokers who are interested in helping you star so much that they offer to give you your initial funds for just signing up, without ever having to deposit a dollar. Whatever it is, the cheapness of the process makes the market incredibly accessible. What is even better, is the fact that you do not have to start trading real money right away – you could always start out with a demo account.
The only resources you really need to start trading is a working Personal Computer or laptop and a stable internet connection. In the modern day, most of anybody has access to those things. Compare these qualities to those of the stock markets, or any other markets you have considered up to this point, and you will have seen why Forex is the best online trading market.
Everybody is a fast learner when trading Forex
Something else that gets mentioned by many traders is how easy it was for them to pick up the basic concepts of trading online. With the rise of retail brokers and the simplification of accessibility to the market, the world has also come to realize that some other things need to be simplified. Namely, how easy it is to receive education related to the Forex field. Which is why you will often find many educational platforms, free libraries, guides, and otherwise similar educational information online. These are here to help you become a better trader. Nobody wants you losing all of your money because of Foreign Exchange trading, which is why every broker, informational website and otherwise Forex related company will attempt to assist you in your quest of becoming a better trader. This is one of the biggest advantages of Forex trading. No other market in the world will be as willing to educate you as the Forex market.
An incredibly wide, friendly community
The previous point brings us to the next point we have to make before getting into some of the other details regarding the reasons to trade Forex. The Forex community is pretty competitive, yes, but it can also be very friendly and willing to help. Yes, just like any other financial industry, there are a whole lot of scammers and people who will try to deceive you, which is why you should keep an eye out by reading the occasional review, but there are also those that are more than willing to help you in your endeavours. The online community, once you learn to filter all the noise, is always there, discussing news, strategies, and ways to tackle the changes in the market. They are always willing to give you some kind of advice regarding the way you are trading the market, or the way you are thinking of it, and the advice is more or less valid. The community is full of experts, educators, and otherwise interested traders. This makes the community one of the liveliest ones out there, making it very fun to be a part of.
I can do it without hands: Simplicity
The Forex market might seem like a sort of a complex idea, with complex strategies and thinking being applied to it on a daily basis. The reality is, while some concepts can be relatively complex, most of the things you will be dealing with are rather simple once you educate yourself on them. The Meta Traders that you will be dealing with, platforms for trading on Forex and other custom platforms, will all seem a bit intimidating at first, but most become rather simple to use and very intuitive once you get to know them. Keep trading long enough and you will start seeing how simple the idea of working on the Forex market is. The spreads, curves, and selling will become like second nature to you, faster than you will be able to get over the fact that you have made your first money on the market. As mentioned before, if you are too risk averse to start trading real money right away, there are always demo platforms and tools to allow you to get used to the idea of Forex trading and how simple it really is. This, probably, makes for one of the biggest reason for considering that Forex is the most beginner friendly market to trade.
Comfortable at your job: Adaptability
A lot of Forex traders start out as a way to make extra income on the side. They believe at working part-time as part of the Forex industry will give them enough income to either get their rent paid, pay for their kids’ school fees or otherwise make their lives easier. It is true! The adaptable nature of the Forex industry allows you to trade when you want and how you want. Whether you like trading at night, or during the day, once a week or every day, you will have the ability to schedule your trades, how you do them and when you do them. The adaptability of the platforms and brokers is one of the top reasons why you should trade Forex market if you don’t have the time for a second or a third job. Do you want to trade in the morning and work in the evening? Or do you have a nightshift that you don’t want to waste away playing mobile video games? Forex trading will give you a chance to transforms those hours of idleness into extra income.
A bright future is the Potential
Whatever it is, the ease of access or the adaptability to your schedule, there is no benefits of Forex trading market than the potential income that you could start making on the platform. If you have spent any time at all researching how much money the people have been making on the market and what the turnover rates for the market are, you would know that the potential is seemingly endless. You could become a millionaire imply trading foreign currencies online, with only your own stubbornness and your strategic reasoning at your side. Forex has helped so many people become millionaires that you might as well be one of them. With the skills acquired on the market or the ones you develop on your own time, you could potentially even make a good financial advisor to someone, someday. A lot of Forex millionaires went through that development curve, of becoming a successful professional in the field after only working for a few years on the market, on their own. The potential that the market bears for you, is only up to you, which is a great thing if you are confident of your own skill.
An unstoppable force: Fast Growth
The speed of the growth of the Forex industry also translates into the speed of growth of individuals participating in the market. Once you start, it may take some time to master the art of foreign exchange trading, but once you have, there is a whole world of lightning speed developments that might open up to you. Whether it is the fast growth of your investment capital and your income or the ability to become the asset manager of other people’s Forex capital, there is a great future of quickly progressing, positive changes in your life, if you allow them to happen. All you have to do is open yourself up to the changes after you have gotten yourself into the market. The rest will follow swiftly and easily.
Keeping up with the times: Technology
The fast technological advancements taking place in the world right now have had a huge impact on the foreign exchange industry. While not changing as fast as the consumer industry, the platforms given to us are relatively updated and become easier and easier to understand, use and play around with every day. The ability to trade on your PC or laptop came around not so long ago and even m recently we have gotten the ability to trade straight from our smartphones. The market information spreads faster and easier, which causes the market to be faster and easier to navigate. New software allows complex types of market analysis straight from the chair at your home. With the rapid technological developments taking today, it is no surprise that the market is receiving quick and easy updates, causing it to become bigger, faster and easier to navigate. Not to say the speed of the news websites which pick up any type of news is ten times what it used to be even a decade ago. This rapid technological development is one of the many reasons why Forex is the best market to trade.
Guaranteed security: Regulation
Forex is one of the most regulated markets in the world, without the regulation ever getting in the way of how you trade. This is a benefit that many markets do not have available to them. Regulation is paramount to the success of the market, simply because it protects you from scams and mistakes that would otherwise ruin you. With so many regulatory bodies collaborating today while using modern technologies to make sure everything on the market is better than just peachy, there will not be a single day when you are not protected on the market. What is even more encouraging is the existence of independent, non-regulatory information and news websites doing their best to see if anything slips by the regulatory bodies, that protect the users and traders from the dangers of scammers and criminals. This type of security is something not many markets are capable of offering today.
One of the greatest benefits of the Forex trading market: Volatility
And yet, one of the greatest benefits of the Forex trading market, one that I have yet to mention, is the volatility of it. Some people might consider volatility as one of the greatest dangers and disadvantages of a market, but these people will have no idea what they are talking about. The volatility of the market allows rapid and drastic changes to values of certain currencies, allowing for great income along with the great loss. A volatile market is one that will allow a trader to go from broke to rich within hours. Yes, the associated risks are always high, which is why you have to learn how to manage them. Learning how to evaluate, manage and avoid risk is one of the most important parts of learning how to trade on the Forex market, and it is how the millionaires mentioned so many times above became the millionaires they are today. Do not be discouraged by it, be only encouraged and think of this problem as an opportunity to easily achieve something that you would have thought unachievable just by staying within safer markets.
So go ahead, get started
Now that we have discussed the reasons why Forex is the best market for beginner and seasoned traders alike, I just have one question to as you: what are you still doing here? Why are you not trying to figure out what broker you are going to be working with and investing your time and money into starting your Forex career? Do not be afraid, simply be prepared and you will be able to become one of the most successful traders on the market today.