Forex, compared with other financial assets like stocks and bonds, have become quite large in terms of the daily transactions passing through it. majority of which than major banks around the world. So, what makes forex trading more attractive than the traditional common stock and safety bonds? Here’s a few probable reasons why investors are flocking to the investment vehicle.
Accessibility is one of the main factors that make forex trading attractive. The ability to trade 24 hours per day, 5 days a week is useful for people who are limited by work or study schedules or are more adept in trading at shorter time frames. With forex trading, you can buy or sell currencies at 4 AM in the morning before going to university or even during midnight hours after you arrive from work.
The information available and the support from the trading community are also key factors that make forex trading attractive. Novice traders can quickly grasp the fundamental principles that make the business what it is including risk management, technical and fundamental analysis, and chart basics. You can find a variety of forex-related articles and websites that help you self-study the business without having to spend a dime for the education.
The broad range of tradable currency pairs play a vital role in one’s trading performance. With dozens of major and exotic pairs to choose from, a trader can find one or two high-probability setups per day, given the right analytical tools of course. From Euro vs Us Dollar to Mexican Peso vs Japanese Yen, there’s always an actionable idea waiting to be found.