The forex market can be considered one important link of the sources of income in an investor’s portfolio. It is important that forex traders have an investment strategy. You can also earn an endless income. Foreign currency trading can be compared to shares trading.
1. It requires little capital.
Opening an account requires a USD250 minimum deposit. Forex brokers typically offer trading accounts with a minimum USD250 deposit. The micro account will offer beginners the chance to try out trading before you invest. Contrary to other options like futures and bonds forex trading only requires USD1000 minimum investment. With your skills and your ability to trade, even small amounts of USD250 may be enough to allow you double the amount in less than a month.
2. Low transaction costs
Clearing and stamp duty fees are non-exempted from trading. Broker fees do not apply even though you must trade through a broker. A bid-ask Spread is what they are paid for. The difference between the selling price and the purchase price.
3. Trades can be made at any hour of the night.
Forex and FX markets are accessible 24 hours a days. You must be a Malayisa or Singapore resident to open the market. The markets close at 6AM on Saturday mornings. This market is available to professional and home-makers. Trade hours can be chosen to work around your busy schedule. Trading forex can be done part-time. Trade forex is impossible if there are other trading instruments.