The benefits of trading in Forex market
Forex is the largest market globally and has met with undeniable success for several years with individual traders, traders who pursue their careers independently from home with their personal accounts.
And if so many are turning to Forex, it is because the advantages of the currency market are many and major, especially for traders who are not hired by banks in trading rooms.
Forex is open 24 hours a day.
Unlike the stock market, the forex market is open 24 hours a day, from Sunday evening to Friday evening (French time).
It means that you can trade absolutely whenever you want, which comes in handy if your schedule is busy.
This is a major advantage since you can start gaining experience in Forex while continuing to carry out a traditional professional activity and perhaps switch to full-time trading when you are ready.
Forex is a no-fee market.
Forex trading is almost free. Brokers generally do not charge any fees.
In Forex, there are no brokerage fees, custody fees, account management fees or anything.
The broker’s remuneration comes from the “spread”, the difference between the selling price and the buying price of a currency.
However, some brokers charge commissions on the volume of your transactions, but this kind of broker offers very low spreads, even zero, which amounts to the same thing if we do the calculation (or even proves to be more interesting).
Forex is a market with many opportunities.
There is always a good opportunity in forex trading. Indeed, the leverage effect offered by brokers makes it possible to earn a lot of money on very small variations, which multiplies the possibilities of earnings.
Also, it is quite rare for a currency pair to move flat for an extended period of time, especially when it comes to EUR/USD.
And if you trade currency pairs other than EUR/USD, you will be sure to have interesting opportunities every day and every hour.
You can trade Forex with a specialized Islamic account.
If your question is Is Forex trading halal, the answer is yes. The most prominent brokerage platforms offer specialized Islamic trading accounts. With this account, you can trade the currencies in accordance with sharia law and make considerable profits.
The forex market is immune to manipulation.
Forex is also the biggest market in the world. More than 4 trillion dollars are traded in Forex every day.
With such a volume, it becomes difficult to manipulate prices, even with positions of several million dollars, unlike the equity markets, which professionals sometimes manipulate.
The only economic players capable of really influencing Forex are the Central Banks. The trading room traders who work for the banks are no more informed than the average trader who works at home about the actions of the Central Banks. , contrary to what happens on the equity markets, where success often depends on your ability to have the right contacts and the right privileged information.
Finally, if you want to fully benefit from the trading on Forex, make sure to opt for the trustworthy brokers to avid scammer traps and other adversities on the market.