If you are looking to get started in the world of Forex, you might want to learn exactly why people decide to take on such a challenge. There are actually quite a few reasons why people trade Forex and these reasons may well motivate you to get started yourself.
With the stock market, you have to make sure you are up and running when the markets are open, otherwise you have no chance of actually making money, since the markets will be closed. The Forex market is unique in many ways, including the fact that it is open 24 hours a day, 5 days a week, closing only at weekends. This means that it does not matter what your time zone or schedule is, you can trade Forex, provided that you have some free time to dedicate to it.
In Forex trading, it also really does not matter how much money you have. Minimum deposits offered by Forex brokers are pretty puny and with just a few dollars you can get started. There are lots of different positions you can take in the markets and yours can be as big or as small as you like. The availability of leverage also means you can apply lots of risk to your trades if you wish. While leverage is not compulsory, with a proper Forex trading plan in place, it can allow you to make a lot of money with what you have. It is basically borrowing money, magnifying your gains and losses.
Another reason why people trade Forex, is the fact that you can do it from anywhere in the world on pretty much any device. Good Forex brokers now have platforms for not just desktop computers, but portable devices like mobiles and tablets too, so you can be trading at home or on the go. Forex trading is open to almost every country in the world too, so it does not matter where you are from in most cases.
It is also simpler than other financial markets. In the stock market there are tons of different stocks you can trade, which makes it complicated. In the Forex market, there is a limited number of major currency pairs you can actually trade, so you can master a particular currency pair.
Other reasons why people trade Forex include the fact that order delays are usually pretty insignificant. In other financial markets, delays can kill your profits, but order filling speeds in Forex trading are usually very fast, depending on your Forex broker of course. In regards to Forex brokers, there are also no payable commissions unlike in stock trading, so you can hold onto more of your money.
In conclusion, there are lots of reasons why people trade Forex, including the fact that it is open to anyone in any country, on any device, 24 hours a day excluding weekends. Other advantages of Forex trading include the lack of payable commissions on trades and the availability of huge amounts of leverage. Leverage is not compulsory, but the opportunity is still there for pretty much anyone to utilize. The advantages of Forex trading are huge at the end of the day and it is harder to think of reasons why you should not trade Forex. If you have not yet started, it might be worth considering opening an account and getting started today. Why not?