How Forex Trading Can Completely Change Your Life: Beginner Guide 2021

How Forex Trading Can Fully Change Your Life

Forex (FX) Trading has become a new and popular term that gets tossed around a lot. By definition, it is Foreign Exchange Trading, a way for you to exchange currencies. As currencies rise and drop in value all the time, Forex exchange becomes something similar to Stock exchange or investments. You can trade in a specific currency pair, and there are 28 in total. If you can determine whether the value will go up or down, you can buy or sell them at the right time resulting in you making money.

Unlike other forms of investment, Forex trading is simple but not easy. When getting into FX, it’s important not to jump into the profession without any knowledge or training. It would be best to have expert advice and guidance to help you through the early stages of your trading journey; that’s where professional forex training courses come in handy. You must learn forex trading through a specialist online course for the best results. By doing this, you will ensure you set yourself up for success as you will be nurtured and trained in Forex’s vast jungle.

Many people who don’t go through training will most likely lose their capital, which is where the famous Forex rule that 90% of traders lose 90% of their money in the first 90 days comes into play. So to avoid this, learning FX through a specialist course is the best way to ensure you trade consistently with high profits.

Let’s take a look at some of the advantages of Forex trading and how it can change your life completely:

1. It is a Trading Opportunity for Everyone

If you’ve watched Ted Talks, interviews of rich personalities and other successful people, almost everyone will tell you to invest your money. It sounds easier said than done. After all, not all of us can earn and save sufficient funds for investments.

Stocks require a minimum amount, so does real estate, mutual funds, or anything else. Fixed deposits or low-risk investments won’t provide sufficient returns to multiply the funds faster either. That’s where Forex trading comes into play.

You don’t need excessive funds to start Forex investing. There isn’t any market cap to the amount, and you can begin with as low as $50. Unlike other investment options, you don’t need a separate account, and you can link it to the primary account you own. Thus, you can start investing immediately in Forex trading.

In other words, if you weren’t able to invest due to financial restrictions or something else like an account, you won’t have any such problems with Forex investing.

2. The Power of Leverage

This is perhaps something you will hear most often in the Forex trading world. You have a golden opportunity to get higher leverage than any other investment market in the world. Forex trading brokers provide leverage from 1:1 to up to 500:1, even 2500:1. It means that for every £1 you own, you can trade up to £2,500 in the market, depending on the leverage rate the broker provides you. This makes it more plausible for anyone to invest in the market without worrying about raising capital.

By borrowing the money, you can invest in Forex trading and get lucrative returns. Of course, it is equally risky, as well. After all, you’re borrowing the money from the market and brokers. If you lose the money or face a loss, you will be losing the company’s money. Still, if you’re sure about what you’re doing, Forex trading is a great way to change your life.

3. Trade Anytime You Like

Other trading or investment options might consume too much time of your life. It sometimes becomes challenging as you might have to change jobs or even quit them to focus on trading alone. However, the Forex market is open 24/5 and gives you the flexibility to trade anytime you like. This allows you to balance your job or work life with trading life and personal life. You can trade whenever you want, and if you understand the trading patterns, you will have better outcomes. It becomes one of the safest options for you to log in anytime and start trading.

4. High Liquidity Market

Forex markets record at least £4-6 trillion daily exchange value while the stock market has around £200 billion. Forex trading is a highly liquid option that allows you to reduce risk anytime, especially since it is open 24/5 for you to trade. There is always someone on the other side willing to trade, and you won’t have to wait either.

5. Lower Costs

Usually, Forex trading doesn’t have any trade commissions. Even if there is, it will be very low. More importantly, unlike stocks, there aren’t any clearance or exchange fees either. Even brokers earn their commission through spreads. If you use highly capitalised brokers, you will get competitive spreads and reduce the trading cost further. Of course, you would have to learn how spreads work, but that’s for when you join Forex trading.

Overall, lower costs on everything means you save more money on the profit. Hence, it is generally a higher profit margin for the risk compared to other investment options.

6. You Grow Passive Income

Forex trading is a form of investment, and all investments are generally passive income generators. If you want to change your life completely, getting a method to generate an income passively is vital. That’s what Forex trading delivers for you. You get an option to generate passive income to help you meet more financial goals.

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