Have you wondered why the trading Forex has gained popularity?
The rising popularity of the Forex is largely a result of the possibility of trading from just about anywhere on the planet. Whether from your garage, kitchen, bedroom, you local shopping mall or your favourite coffee shop (nowadays Wi-Fi is available in most of these places). Moreover, of you are likely to travel, either on work or pleasure, all you will need to pack is a laptop to keep you connected and active for trade in the Forex market. In other words, so long as you have access to the Internet, you can actively be trading on the Forex market, regardless of your location anywhere on the globe.
Moreover, to be members of the Forex market there are no mandatory qualifications or credential that are required. You are not asked to present any diploma or any other qualification nor any sort of licence as a validation of your understanding and trained skills on the Foreign Exchange Market, Financial Management or the Banking Industry.
On the contrary, Forex trading is open to just about anyone who desires to trade in this market. Moreover, it is a simple process with extremely low start up costs, making it an economical process.
To start trading in the Forex market, you will need to create an account with just around US$ 200.
I would strongly recommend Fenix Capital Management. They offer an advanced system of a trading platform which allows their members to place their orders by a simple click on their charts.
The main benefits that you will reap from trading in the Forex Spot markets are:
- It is free of nay commissions and/or fees. This means that you will not have to spend any money unnecessarily.
- Since the market operates throughout the day, you can choose to trade at any time and place that is most convenient for you. Hence, you are not met with the problems of opening and closing hours
- You can avail of leverages trading to the tunes of a 400:1 ratio.
- You can choose to stream executable quotes on the price for absolutely free. Moreover, you can avail of the live charts feature, also for free.
Finally, it is imperative that you recognise the difference between currency futures and cash Forex or Spot FX. The contract size in currency futures is always predetermined. However, in the case of cash Forex or Spot FX, you can choose to trade up to any amount electronically, with an upper limit of $10 Million, which you desire.