The advantages of currency trading

There are many good reasons to choose currency as an alternative to such trading.

Advantages of FX trading
22. April 2024 by Click insider / Finance

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No Fees: Unlike the stock market, there are no fees or charges in foreign exchange trading. You do not pay any fees for currency broker, no fees to the government or state. Currency Brokers are compensated for their services with something called "buy-sell spread" ("bid-ask spread). The spread is the difference between the buying price and the selling price.

No costly intermediaries: You can trade directly in the spot market via your currency broker.

Low initial capital requirements: You really need not be rich before you can start currency trading. A mini-currency account or micro-currency account with a Forex broker, you can open a deposit of around $ 25 - $ 100 dollars.

Cheap to buy and sell: Currency broker normally takes no more than 1 per thousand (0.1%) of the buy-sell spread (difference between buying price and selling price).

Open (almost) every hour: The markets open on Monday morning in Australia, and closed Friday night in New York. In reality, the currency market is open for trading almost the entire week. You can trade at night, in the morning, and all night long on weekdays, whenever it suits you best.

Meaty market: Since the currency market is so large, it's never a problem to sell or buy a currency (good liquidity), even if you are sitting on very large positions can sell or buy instantly. The size also means it will be impossible to manipulate the foreign exchange market (as opposed to equity markets where manipulation is almost commonplace).

Easy to start with forex: The admission fee is something everyone can afford to pay. The elementary exchange market is easy to understand. If you want to practice, there are many possibilities with free demo accounts everywhere.

Valuable knowledge: What you learn in foreign exchange is also useful in other financial disciplines. Be good at foreign exchange trading, and you can achieve success in any financial market.

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