In recent years, many individual traders invested in the currency market. It is the biggest and one of the most profitable markets these days. Here are some of the advantages of it, which also represent the reason why Forex attracts many.
Forex is a “trapless” market.
Often, when you practice stock trading, you realize that a good analysis has been invalidated by the words of a manager or by the signing of such and such a contract, which impacts the price of the action in which we are interested.
There is a precise and planned schedule in advance of publications and statements that could influence currencies (economic calendars) on the forex. Thanks to the economic calendars, you can therefore know when an important statistic is going to be published and thus avoid unpleasant surprises.
It should also be noted that the statistics results are available at the same time, for everyone, professionals or individuals. All you need is a decent source of information, such as ProfessorForex.com Premium Access.
We are certainly not immune to surprise and influential statements from a central bank boss or a politician, but here again, by being informed quickly, the damage can be avoided.
Forex makes it as easy to earn on the ups and downs.
Forex allows you to bet on the rise or fall of a currency. It is certainly also possible to do it on the stock market, but not on all stocks, and sometimes only via obscure “derivatives”.
Moreover, short selling is often prohibited in periods of crisis on equities.
You can train yourself on a demo.
Before venturing into the real trading activity, there is a demo account to help you start off on the right foot. This type of account is free of charge. It serves to newbie traders to get to know trading mechanisms trading strategies. Also, it serves to train yourself in real market conditions without investing real money. Excellent isn’t it!?
You can open a specialized Islamic account
If your question is Is Forex trading halal, then the answer is yes. You can open a specialized Islamic account with all the features necessary for trading but following sharia law.
Various trading account for different trading profiles
Every reliable broker offers various trading accounts following their specific needs and abilities. The more accounts that brokerage offers, the better for your trading journey. It shows the seriousness in business activity and the readiness to meet the wide spectre of the clients.
Various trading instruments
When you start in Forex, it’s the gate open to other trading opportunities. Maybe you want to concentrate at first just on the currency market. But for your investment profitability, it’s always advisable to diversify your portfolio with other investment instruments such as crypto, commodities, stocks etc.
Availability of Forex
And finally, the Forex market is available for trading round the clock five days a week. Thanks to the reliable internet connection and the laptop or smartphone, you can trade the currency from wherever you are.
Nikhil Kore