Why Trade Forex?

The forex (foreign exchange) market has become the largest market in the world today. It is estimated that there is over a 3 trillion dollar turnover each day. This makes it by far a larger market than the stock market that most people are familiar with. It is referred to as the market with the closest to perfect competition.

Because it is a global market it means that it is open 24 hours a day. There is no waiting for open time or hurrying before closing time. This makes it very attractive to many people who may either have busy schedules or just enjoy trading at different hours of the day. Also, there are many different online forex platforms out there today which makes it easy for anyone to trade at anytime and from anywhere.

Foreign exchange trading has more than doubled since 2001 and is still growing. Since there is such a diverse choice of execution venues, it has made it much easier for retail traders to begin trading in this market. There is also no central exchange or clearing house, since it is an over the counter market where brokers and dealers negotiate directly with each other.

There are many different online brokers out there today, such as eToro, Forex place, 10Pips, and AvaFx that not only offer bonuses for new traders, they also offer help trading. These online brokers offer many educational and training tools and support to help traders better understand the market and how to begin having success in the forex market.

Traders always have the opportunity to make money whether the market is up or down. With the stock market there are over 40,000 different stocks to choose from and it is very easy for those stocks to crash or just have a bad day. In the forex market, traders focus on two currencies to trade and whether the market is up or down you always can make the right choices and make very good money.

Overall, there is no better market to be trading in today than the foreign exchange market. It's size and great liquidity make it an ideal choice for anyone trying to make a lot of money real quickly. There are low start up costs and in today's economy that is always something to look for.

Source by Paul Z Wilson

Comments are closed.