The most traded financial market is forex. If you are able to harness the inherent volatility of forex, you will have an immense opportunity to choose a silver trading platform or a gold trading platform. In order to start trading in Forex. It is the biggest liquid asset market across the globe.
On the other hand, precious metals are a safe haven. When the market becomes uncertain, investment in gold and other precious metals will be smart. These metals are particularly in high demand; they also have applications in jewellery making, manufacturing car parts and other components.
Advantages of Trading in Foreign Exchange
1.Biggest Financial Market
The biggest financial market in the world is the forex market and it looks like it is not going to change very soon. If you want to get a peek of the global market and trade, undoubtedly the forex market is the place for you to go on. An average forex market deals with at least five trillion dollars everyday.
- Forex Market is for everybody
Trading in foreign exchange is for everybody and not just for affluent people. It attracts many people across the globe because you don’t need a lot of money to become a Forex trader. Having the right knowledge and the skills for mastering it can take time so you must start slow.
You want to do currency trading. You don’t have to move with just one click. You can buy and sell when you want to do trading with major currencies like US dollars and euros. You have sufficient scope and you can also automate the trading.
- Forex Market is a decentralized market
One single institution cannot control the forex market because this market is influenced by the world economy directly. All you need is a broker in order to trade directly.
- The forex market is open 24-hours
One big advantage of the market is that it is open 24 hours all five days of the week. It does not sleep, you can take time out in the morning, afternoon or in the evening or at night, if you want to do trading at your convenience.
- Demo account
If you are a beginner or an amateur and if you are still not comfortable in risking real capital, you can get a demo account for testing the waters. It is a great alternative and it is as real as it can get.