Forex is not the only market where economic transactions take place among the buyers and sellers. There are many other stock exchanges in the world, for example, say the New York stock exchange, where every day billions of dollars are transacted by the buyers and sellers. There are many other stock markets in every different country. Still, Forex is getting popular every day. It is not that this market is always open or it has got the highest volume of money in the world, there are some other advantages which the traders in this market get where they cannot get it on the other market. These advantages make the Forex stock market over the top of the other markets in the world. If you look at the professional Aussie traders at Saxo then you will notice that most of them prefer currency market due to its versatility and extreme level of profit potential.
Some advantages in forex market over other markets
Market volume: The main reasons that Forex market is on top of the economic transaction is its market volume. Every day, trillions of dollars are transacted in Forex market. The traders are from different parts of the world and they are making this market larger by investing more money in the market. The volume of the Forex market is one of the reason traders like this market and feel comfortable to trade. If you can truly master the art of trading then you can make decent money regardless of the economic conditions of the world. To be precise you will achieve your financial freedom in life.
Virtual access: Another reason why this market is gaining popularity among the traders is the access to the market. Forex market is the only economic market for trading where interested people can access the market virtually from anywhere. You do not need to be at your office or any other place to place trades on the market and manage your account. Stock markets in the world require the traders to be physically present when placing trades on the stock market. It is a burden for the traders in this age of communication and Forex provides the perfect solution to traders by virtual access to the market for trading.
Leverage: You can place a trade on the market even with your small account. This benefit to trade big with a small account is called leverage and it is one of the reasons why traders of all sizes are coming to trade in forex. Even there some expert traders in the forex trading industry who are making a decent profit with a small trading account by using the leverage in an efficient way. But in order to make profit consistently in the market, you need to learn the basic first. Always trade the high-quality trading signals and never risk more than 2 percent of your account capital in signal trade. Always remember that losing is just a part of the trader’s life so embrace your losing orders just like the winners in the market.
Account cost: the account cost of Forex is very low. You do not need to have a large account. You can open your own Forex account for as small as 1 dollar also. There is not limit on your account size. This small account size allows the other traders from different economic markets to try the Forex trading.
Summary: Forex market is very large and it also offers many advantages to the traders that other markets do not. Traders from all over the world are now interested in this market. So if you truly want to become a profitable trader then learn the market basic first and trade with an extreme level of discipline. Last but not the least never trade with the money that you can’t afford to lose in this industry.