forex online trading
Top 4 Benefits Of Forex Online Trading written
The growing popularity of online forex trading can be mainly attributed to the fact that nowadays almost everyone has access to computers and internet connectivity. Although forex does not have any particular place or location for trading, online forex trading makes the process even more convenient. Here are some of the main reasons why most people prefer trading forex online:
1. No middlemen and commissions
Trading does not attract clearing fees, brokerage fees, gover4nment fees and exchange fees. This allows you to trade directly with the currency market responsible for the pricing of each pair.
2. No fixed lot size
Spot forex allows traders to determine their own portion size or lot. Traders can therefore participate with small accounts (as low as $25).
3. Low transaction cost
Under normal market conditions, the bid/ask spread (retail transaction cost) is usually less than 0.1%. However, this depends on your leverage.
4. 24-hour market
With online forex trading, you do not have to wait for an opening bell. The online forex market never sleeps. This is a major benefit because it allows part time traders to choose when to trade; night, morning or noon.
The growing popularity of online forex trading can be mainly attributed to the fact that nowadays almost everyone has access to computers and internet connectivity. Although forex does not have any particular place or location for trading, online forex trading makes the process even more convenient. Here are some of the main reasons why most people prefer trading forex online:
1. No middlemen and commissions
Trading does not attract clearing fees, brokerage fees, gover4nment fees and exchange fees. This allows you to trade directly with the currency market responsible for the pricing of each pair.
2. No fixed lot size
Spot forex allows traders to determine their own portion size or lot. Traders can therefore participate with small accounts (as low as $25).
3. Low transaction cost
Under normal market conditions, the bid/ask spread (retail transaction cost) is usually less than 0.1%. However, this depends on your leverage.
4. 24-hour market
With online forex trading, you do not have to wait for an opening bell. The online forex market never sleeps. This is a major benefit because it allows part time traders to choose when to trade; night, morning or noon.