When someone says ‘trading,’ the first market that comes to mind is usually the stock market. The stock market is the traditional market on which people traded, but it’s overwhelming. Especially for a new trader, the number of different stocks provide too many choices. Many people, instead of trying to learn the stock market, are instead turning to forex, or the foreign exchange market.
Forex is a fairly easy market to get into trading, due to its low regulations and high liquidity. There are lots of articles, including the BetterTrader.co Blog, which articulate why trading forex can be a great option. Some of these reasons include:
- Many resources– there are lots of resources which will help you get started, learn the terminology, find a broker, and develop strategy.
- Demo and training opportunities– these opportunities give you the chance to test your strategy before putting any of your money in the market.
- Low barrier to entry– the capital required to start trading is lower than for other markets.
- High leverage– high leverage on trades gives you a better chance to be profitable even while your account is still small. (Keep in mind that this carries risk.)
- Focus– most traders focus only on a few currency pairs. This makes it good for people who don’t have the time to trade full-time.
If you’re a prospective trader willing to invest time to research, be sure to consider all your options before putting money in any market. Forex is a good market to start trading on, especially if the stock market feels overwhelming. When you’re ready to start researching or trading, a good platform like BetterTrader will help.
BetterTrader.co is a comprehensive platform which produces real-time, actionable trading advice. It uses AI to analyze ongoing market situations and economic events, and was developed by a team of experienced traders and market experts. BetterTrader has advice and resources for all traders, but forex is one of its specialties.
Along with providing free demo accounts, BetterTrader offers a wide variety of free updates and notifications, which are designed to assist traders at all levels be successful. If you’re interested, check out the benefits of the platform, or jump right in with the web app.