There are many reasons why retail traders are jumping on the forex bandwagon at an accelerated pace. This chapter lists the top 17 advantages. One of the biggest attractions lies in the market’s unparalleled liquidity. The forex market is the largest market in the world and is open 24 hours a day, 5 days a week. Traders can also go short at any time and take advantage of the massive leverage available, sometimes as high as 500:1.
Brokers provide other advantages. Some of these advantages include free tools, quality resources, free practice accounts, and the beauty of starting live trading with a low capital outlay. This chapter also discusses the biggest advantage in trading the forex market: It gives you a firm grip on global finance and other asset classes because it deals with the lowest common denominator in every country: the currency.
There are a myriad of reasons to explain why ordinary folks and fellow traders are jumping on board the forex market at an accelerated pace. Here we discuss 17 of these reasons.
One of the biggest draws of the forex market is its 24-hour accessibility, Mondays to Fridays. This accessibility is possible because markets around the world open and close at different times to facilitate cross-border global trade. Trading starts in Sydney, Australia, on Monday morning, and as the day goes on, more financial markets open for business: Japan, Singapore, and other ...