Since forex trading is basically to buy and sell currency pairs using an application, there must be better and safer ways to do so. There are obviously risks associated with forex trading which can lead to losses of your initial trading capital. Because forex is different from gambling, all trading platforms must provide you with tools to manage risk.
Advantages of Trading Forex Online
Here are some advantages
Cheaper transaction charges - The retail transaction charges are typically less than 0.1% in normal market conditions. At larger forex traders, the spread could be as low as 0.07% but it all depends on what your leverage is.
There no brokerage fees charged, no government fees, no clearing fees and no exchange fees. Brokers that make trading platform available are already compensated in each trade you execute online.
No fixed lot size in the futures markets because lots or contracts sizes are decided by the exchanges. Basically as a trader you determine your own position size. This gives an advantage to traders because they can participate with accounts as small R300.
There is no middlemen in forex trading because spot currency trading allows you to trade directly with the market responsible for the pricing on a particular currency pair.
When you trade forex on online platform you do not have to wait for a specific time to start trading for the day. Forex markets are 24 hours. You can always find currency pairs to trade at any point or time of the day including midnight.
Forex market account for billion of rands which means that it is extremely liquid. This is an advantage because it means that under normal market conditions, which means you can simply click to sell or buy and someone else on the other end will actually perform the opposite action. This is one of the advantages of trading forex online.
Entering forex trading is very easy in that there are low or no barriers to entry. All you need to have is capital and some knowledge of how to trade. You will also need to have a computer that you will use for trading. Forex trading courses are readily available and anyone can take them.
If you want to learn how to trade forex, you can send a WhatsApp message to 078 362 7859.