There are many varieties in Forex
In Forex trading, there are more than 30 currency pairs traded and most of the trading volumes are concentrated in about half of those. This is more than enough currency pairs to give you choices in which currency pairs to trade and help you make lots of money if you can trade successfully in most of them
There are no fixed lot size in Forex.
In Forex, the standard lot size is 100,000 units, but most brokers let you trade fx broker mini-lots of 10,000, and some even offer super mini lots as small as 100 units! For a new trader, this flexibility in lots size is an excellent money management tool for the trader. He or she can increase trade size as their knowledge in Forex trading and profits increases.
Forex is open 24-hours on weekdays
A Forex trader can start trading from late Sunday afternoon (U.S time) to the following late Friday evening. You may enter the market and exit as you like and trade for as long or as short a time as you wish
Low margin, high leverage
One of the most greatest advantages about trading Forex is that you can trade leverage ratios of from 10:1 up to 400:1 which means you may control 100,000 USD with from $10,000 to as little as $250. High leverage means that a very small move in the charts may result in a 100 percent profit or sadly, a loss.
Forex is very volatile
The Forex market can move up or down in a very short period of time. You can make huge profits if you know where the market is going at that point of time
You can trade Forex on the internet
Most Forex trading are conducted online, via the internet. You trade Forex on the broker’s trading platforms. This trading platform includes real-time prices and you can place buy and sell orders and make use of its trading tools such as charts and indicators. And if the need arises, clients to call in orders by phone to their respective brokers
Forex is not related to the stock market.
Currencies are independent of the stock market and from an investment perspective, currency prices are non correlated with stock prices. For this reason Forex may be an attractive hedge to a larger stock market account.
There are no commissions in Forex
There are no fees whatsoever be it clearing, exchange fees, government fees, and best of all, no commissions. The only costs of trading Forex are within the bid/ask spread. For those brokers who use the electronic communications network (ECN) transactions may charge a small fee.
In Forex, it is easy to execute huge orders in foreign exchange because there are over $3 trillion in transactions daily. What ever the size of the order, it will be executed immediately in online Forex trading.
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