Have you ever wondered why many people are eager to learn how to trade forex?
Or have you ever been considering trading forex yourself and are trying to figure out why you should?
You’re in the right place because, in this article, you will be learning 7 very important reasons why you should learn forex trading.
Make sure to read till the end of this article because you will get answers to most if not all of the questions boiling in your mind.
Without further ado, let’s dive right in.
(7) Reasons Why You Should Learn Forex Trading
I know there are many reasons to learn forex trading; sometimes it can be subjective.
But the following are the general reasons that are applicable to everyone who wants to learn forex trading regardless of one’s subjective reason.
Earn extra income even regardless of the economic situation
Forex trading, if mastered with a very proper education and patience, could be a very good supplement to your other sources of income.
The best part is, while the majority of other sources of income are subject to economic adversity, forex trading is independent of it.
This means, let’s say the unemployment rate is dropping very rapidly and businesses are closing down, forex trading is not affected negatively.
You ask why?
Well, this is because even when this is happening, you can be short-selling any currency pair affected by the economic downfall which would lead to you profiting from it.
So do you see how beneficial forex trading can be even in an economic downfall?
Well, this is just one of the 7 reasons why you should learn forex trading.
Time and Work Flexibility
Another very important reason why you should learn forex trading is the time and work flexibility it offers.
Now let me explain.
As you know, time is money and if there is anywhere this saying is most applicable it is in the forex market.
This is because the forex market is open 24 hours daily for five and a half days a week.
This means you can enter and exit a trade anytime you want to or whenever you have the time to trade giving you to opportunity to have your own personal trading schedule.
Not only does it give you time flexibility, but it also provides you with work schedule flexibility.
One of the most enticing features of any job or business is the ability to work from anywhere you desire.
And guess what? Forex Trading offers you the ability to work from anywhere you are in the world.
All you need is a device that is connected to the internet and a reliable internet connection.
It allows you to make money from your device while traveling or while having a party or in any situation you find yourself in.
Small Start-up Capital
Unlike many other businesses that require colossal amounts to begin, forex trading is actually the opposite.
You can start trading the forex exchange market for as low as $100 or $500.
Yes, you heard me right.
There are stories of those who began their forex journey with as low as $500 and they are worth more than six figures now.
Disclaimer: This is not a go-ahead for you to jump into the market with your last $500 or $200 and expect to make thousands of dollars overnight.
It requires a lot of effort and patience to be able to do this.
Things have become easier because there are prop firms at allow you to trade with a large amount of capital when you register with just a small fee for as low as $49.
Can you see that this is a very enticing reason why people go into the forex business?
Moving on…
High Liquidity
The Foreign exchange market is the most liquid financial market in the world with over $6 trillion traded daily.
You might be wondering what causes liquidity in the market.
Well in simple terms, it is the number of buyers and sellers in the market that determines the liquidity of any financial instrument.
So, thousands of traders around the globe are matched around the world which enables them to buy and sell at fair prices within a fraction of a second.
Due to the high liquidity present in the forex market, it is almost impossible to just manipulate market prices anyhow by big players in the market.
The liquidity present in the foreign exchange market is another reason why people learn forex trading.
Potential High Profitability
Part of the very alluring features of forex trading is the potential for high profitability.
Forex trading has endless opportunities, hence, increasing the chances of you becoming profitable and not just profitable, you will have high profitability once you have mastered the skill.
The duration for mastering the skill of forex varies with the individual.
Disclaimer: High profitability comes with a lot of hard work, time, dedication, and patience.
Just so you know, a lot of people who have taken forex as a side job ended up leaving their jobs to fully become forex traders.
This is not a thumbs-up for you to just leave your job because of forex. Again, it takes time and patience.
Also, the more you invest, the more your ROI (Return On Investment) which means, once you master the skill, the more you invest, the more your profitability.
Low Cost Of Transaction
As opposed to many other businesses where we have a lot of middlemen, forex trading is not like that hence helps to reduce transaction costs.
I’ll explain further.
Imagine you want to buy a mercedes benz. How will you do it?
Usually, you go to the dealer’s shop, right? Yes.
The dealer buys in bulk from the manufacturer or producer, right? Yes.
Sometimes you might not have easy access to the dealer who buys in bulk.
You might just have a businessman who sells in bits.
You see, all these are what makes the transaction cost of many business high.
But in the forex market, you only need your broker to give you access to trade your money in the market thereby drastically reducing the cost of the transaction.
The only costs you incur are the commissions that your broker needs to keep running and the swap fee.
These costs vary with the broker and they are usually minimal.
Accessibility to all regardless of prior knowledge and experience
It is usually very difficult to start any business without prior knowledge and experience, right? It is not exactly the same with forex.
Though proper education is required and advised, it is not compulsory to have experience and knowledge before you have access to the foreign exchange market.
Personally, I advise you have gained sufficient knowledge and experience before trading with your hard-earned money.
To make it easier, the FOREX MASTERY COURSE is at your fingertips.
It contains all there is you need to know about forex trading.
The accessibility to all regardless of prior knowledge and experience is another factor that attracts people to forex trading.
Conclusion
So, there you have it!
Above are the 7 compelling reasons why learning forex trading can be a game-changer in your financial journey.
Whether you’re looking to earn extra income, enjoy time and work flexibility, start with a small capital, experience high liquidity and potential profitability, or reduce transaction costs, forex has it all.
So why wait?
Start your forex trading journey today and discover the possibilities that await you in the world’s largest financial market! Happy trading!
Frequently Asked Questions ( FAQ’s)
Is it good to learn forex trading?
It is very good to learn forex trading especially if you’re looking for an extra job or financial freedom.
Also, note that it is very important to understand the market and its dynamics.
This way, you can manage the risks involved in forex trading, make winning trades and set yourself up for the very possible success in this endeavor.
What should I learn first in Forex Trading?
You can start by learning the basics (currency pairs), the software used in forex trading i.e. mt4 and mt5, and learn to practice with a demo account.
These are just the basics when it comes to having knowledge about the market. If you want to learn how to trade exactly, the Forex mastery course is always there for you!
How long will it take to learn Forex?
As I have hinted in this article, the length of time taken to learn forex varies generally with individual willingness and capabilities and the effort put into learning.
Though traders generally agree that on average, it takes about 6 months to 1 year to learn forex trading and become proficient.
