Foreign Exchange market is by far; the largest financial market in the world. It includes trading between large banks, central banks, currency speculators, multinational corporations, governments, and other financial markets and institutions. Forex and related markets is currently over US$ 2 trillion dollars.
A lot of currency traders are starting to trade Forex, here are the most important Forex market advantages:
1 – The market is a open 24 hours a day
The Forex market is open 24 hours a day except on weekends. So when ever you are, you can trade Forex at your favorite time and location.
2 – Leverage
The leverage on Forex can be as high as 200:1 which means that you can trade up to $100K with just $500. Remember leverage has be trade very carefully.
3 – High liquidity
Forex market is the biggest financial market in the world averaging over 2 trillion USD daily.
4 – Free commission fees
In Forex the commission fees are 0. The only cost when you’re buying or short selling a currency pair is the spread. Always do your homework.
5 – Free trading platforms
On Forex most brokers offer good trading platforms for free. That you could open a demo account without putting money at first.
6 – Free Charts
Most Forex brokers offer free trading charts which allow you to start practicing, with different time charts you will learn and develop your own trading style.