Why is Forex So Popular?
The forex market is a marketplace where all the transactions pertaining to currencies take place. It is one of the most liquid and largest global financial markets, which is basically an OTC or Over the Counter market. This implies that the market is decentralized and features a full network of brokers, banks, individual traders and institutions. Here, find out what makes forex immensely popular among traders across the world.
What makes Forex So Popular?
One of the primary reasons behind the popularity of forex is that they are highly accessible. Traders can easily access a trading platform from the comfort of their homes and use automated trading tools, forex signals and other indicators to place their trades conveniently. Besides, the forex market is always open 24 hours a day and 5 days in a week, which means traders can trade as and when they want to. Thus, forex traders can easily generate a passive income without putting in a great deal of hard work or labor.
In addition to this, traders can initiate trading with a small amount of capital such as $100 and they don’t need to put their entire funds at risk. This is because many forex brokers don’t charge any fee and in turn offer high leverage for trading. Thus, forex brokers basically allow trader to borrow money and place large bets for gaining profits through forex trading. Besides, you can increase the amount of capital once you’ve gained enough confidence or you have mastered the art of trading.