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Why Trade Currencies

You want to learn how to trade currencies at the Forex market or crypto? But you don't know where and how to start? Blockchain Tradein is an online currency trading platform that allows you to trade your unwanted currencies for cash or other currencies.

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Why Trade Currencies

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  1. Why Trade Currencies? https://blockchaintradein.com/forex-trading/

  2. Benefits of Currency Trading • Enticed by the idea of currency trading but also on the edge when you have to decide whether it is the right avenue to make money? Know the benefits of currency trading to understand if you want to channel them. Here are some of the primary benefits of currency trading for beginners to understand what the market holds for you and the benefits exclusive only to currency trading. If these benefits seem profitable to you, enter the market. 

  3. The most liquid market  • Liquidity is the seamlessness of finding buyers and sellers for your assets in the market. A high trading volume means higher liquidity and a rise in the chances of your trades being successful. The most liquid financial market in the world, the forex market, is where large volumes of currencies are bought or sold without leading to too much price movement. 

  4. Trade for more than you can afford with leverage • Leverage is borrowing money from the brokerage to place trades. High leverage in currency trading is how you can borrow funds from a broker, increasing your exposure to the market and making more money with less. Let’s take the leverage 1:10, for example; the broker will multiply the size of the trade you can afford by ten times. • This is how you can generate more profit if you do not have enough funds to trade. One thing to remember when doing currency trading for beginners is to not go for high leverage when first starting out. Remember, high leverage multiplies your losses as well if your trade goes against you. 

  5. The market is open 24x7 • The forex market runs 24/7; trading is carried across time zones in different parts of the world, from 5 p.m. EST on Sunday to 4 p.m. EST on Friday. At any given time, at least one market is open, and there are a few hours of overlap between the closing of one market and the opening of another. The international scope of currency trading implies that there are always traders across the globe who are making and meeting demands for a certain currency.

  6. Anyone can enter the market  •  The largest financial market in the world, the foreign exchange market, has an average of $4-5 trillion traded every day across the world in currencies. All levels of traders from the globe can trade in currencies easily, making forex truly accessible for everyone.

  7. No centralized entity in control  • The currency market does not have any single entity to control it. Participants from across the globe make this market, and hence a player or more of them cannot dominate or manipulate the prices. 

  8. No special permits • The currency market does not bar anyone from placing a trade. You do not have to take any special training to trade here. All you need to do is open a trading account with a registered broker and manage the initial capital. Since reading has moved online, it has enabled access to the global currency market with an internet connection.

  9. Technologically advanced  • Forex brokers now provide traders with a proprietary online trading platform incorporating the latest technology. Trade with your smartphone, place orders within seconds and get real-time data on currency movements worldwide.

  10. A door to money-making opportunities • The currency market allows traders to trade not only the highs of the market but also the lows. It is a market with ample trading opportunities regardless of how the market is moving, up or down. Your profits depend on correctly speculating the movement. 

  11. Hedging • The currency market allows the importers and exporters who are dependent on the foreign exchange rate for their earnings to hedge against the forex rate movements, helping them safeguard their money.

  12. Arbitrage opportunities • Traders can make money in the currency market by arbitraging. Currency derivatives, when traded on different exchanges, generally have a minor difference in prices of the same currency contract, which can be taken advantage of to make profits. • Currency trading for beginners can seem daunting but consider these benefits and if they work for you, start working with the market. 

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