So you fancy yourself as a trader, do you?
We get it – the thrill of chasing a profit, following charts, frantically selling, quickly buying – it’s a rush. But how long do you do it before you get bored? How long do you chase cash, with the market closing o’clock looming overhead?
That’s why we prefer forex trading, and probably why it is the biggest market in the world – the markets don’t close.
What is forex trading?
Simply put, it’s trading currencies. Forex trading is the largest market in the world, and is the most traded market.
Just like any other market, forex trading involved buying something – in this case currencies – speculating about whether it will appreciate or depreciate, and hopefully, making a profit when you sell it.
It’s an invigorating market to trade in, as there is no central location or ‘exchange’ like the New York Stock Exchange, so the price of currencies goes up and down constantly, and with vigor. And the best part? This market doesn’t close.
Why do I need a broker?
Whether you’ve been trading forex for years, or are only just diving into the market, you’ll like feel that the more information you have, the better. Now, you can visit a bank to trade forex, but you’ll be missing out on the analysis tools, insider information and charts that come from a third party or middle man between you and the seller.