Here are twelve reasons why you might consider to experience the exciting world’s largest and most lucrative market.1. Forex is the World's Largest Market
Forex is the largest and the most liquid market in the world. The daily trade exceeds 4 trillion and there is a niche for everyone, be it a big corporate bank, small trading company or just an individual, trading from the comforts of his/her home.
2. Forex is free
Nobody can corner or control the Forex and you almost always buy or sell a position at a reasonable price, with price execution based on current interbank rates. Nobody can regulate the market or give orders. It is the pure capitalism at its best.
3. Forex never sleeps
Forex trading is open continuously 24 hours a day from 5pm Sunday to 5pm Friday. You can trade over different time zones which gives you many opportunities to make money and choose the hours that you want to trade. There is no waiting for the bell to ring and the markets to open.
4. Forex is simple
Well, it does not mean that trading is simple and you can start making money right away. However, the idea of currency exchange and currency pairs is simple and transparent. Compare with 40,000 stocks listed across global exchanges such as the LSE and NASDAQ. For stock brokers this means that many hours of research. In Forex trading it is much simpler. The majority of the market trades just 4 major currency pairs.
5. Forex Offers High leverage One of the reasons that so many investors are attracted to Forex is that it offers much a high leverage than is available with stock market investing. Although the beginners of forex should not use a high leverage, this possibility attracts professional traders and lead to high profits.
6. Forex is a Zero Sum Game. Currencies can not drop all at once. Unlike shares trading, even a weakening market sentiment cannot cause all currency interactions to fall. In Forex it is simple: as one currency’s loss is another currency’s gain.
7. No Stamp Duty for Forex.
There is no stamp duty to pay on trading forex and spreads are tight.
8. Forex is Transparent
Trading is very transparent and does not have any hidden commissions or exchange fees. Forex brokers make a small percentage of the bid/ask spread and that’s it. Most brokers offer free trading platforms - enabling you to trade from home (or just about anywhere else!) 24 hours a day.
9. Large Open Forex Trading Internet Community
There are many forex brokers and a very aggressive competition between them. Traders observe, compare and criticize brokers on numerous forex trading forums. Delays in money transfers? Slow response to traders requests ? Problems with a software or the website ? Everything will be noticed and reported online. Of course, there are still forex scams and lots of disinformation being bandied around by the forex brokers. Therefore, if you are a beginner of forex you need to do some preliminary research. Pretty soon you will have your internal lie detector which will work very well.
10. Forex Brokers Offer Demo Accounts
Demo accounts are designed to mirror the live account in all aspects. It never expires and makes it possible for you to perfect your trading strategies and gain a valuable experience.
11. Easy Access to Historical Data
One of the underlying tenets of technical analysis is that historical price action predicts future price action. Owed to the large number and variety of foreign exchange market participants, there tends to be a large amount of data to gauge future price activity, making it the perfect market for traders that use technical tools to determine entry and exit points.
12. Real-Time Forex Alerts and Anytime Anywhere Access Don’t forget to check out timetotrade’s new forex alerts tool. Use timetotrade to set up your own customised price and technical indicator alerts against all the major currency pairs. Track real-time changes in the markets and receive forex alerts to your mobile.