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CHAPTER 1 - LESSON 2
Forex trading offers several advantages over other financial markets, making it an attractive option for traders of all levels.
Here are some of the key reasons why traders choose to trade forex:
The forex market is the most liquid financial market in the world, with an estimated daily turnover of over $6.6 trillion. This high level of liquidity means that traders can easily enter and exit trades, and the market is less susceptible to manipulation.
Unlike other financial markets, forex trading has very low transaction costs, as there are frequently no commissions and the bid-ask spreads are typically very tight. This means that traders can make more profit on each trade.
Forex trading allows traders to trade on margin with leverage, which means that they can control large positions with a relatively small amount of capital. Keep in mind that while leverage can magnify profits, it can also increase losses, so it's important to use it judiciously.
The forex trading market is open 24 hours a day, five days a week, which means that traders can trade whenever they want, regardless of their location or geographic time zone.
The forex market offers a wide range of currencies to trade, including major currency pairs like the US dollar, Euro, Japanese yen, British pound, Swiss franc, and Canadian dollar, as well as exotic currency pairs like the South African rand, Mexican peso, and Turkish lira.
The forex market is known for its high volatility, which means that there are often significant price movements that can offer traders opportunities to profit.
In addition to these advantages, forex trading is also accessible to traders of all levels, from beginners to experienced professionals. With the right education, tools, and strategies, anyone can participate in the exciting and dynamic world of forex trading.
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