What made you to be attracted to cfd trading South Africa for forex trading? The following might be a few of the many reasons which might have made you to start forex trading:
Trading any day, any time
At the start, years ago, before turning forex to a career in full time, you could start part time trading. The great thing about the forex investment is that, you can be able to turn it to fit your needs. The fact that the market in forex is up and running 24 hours for 5 days, it is volatile and continuous, making it possible to enter the trades when it best suits you and at the same time, make a generous amount of money without the need to search the market for the opportunity of 24/7.
Control a big amount of money
A feature which is quite important in trading is the leverage. All the brokers for forex allow the traders in using the leverage, which is basically a loan which allows you in trading more money than you can have in real sense in the trading account. An example is a leverage which is at 100:1 fore each $1 in your own account, it also denotes that you can be able to trade $100000 for just $1000 for your own capital.
Even small movements denotes profits
Forex refers to the liquidity. Big amount of money are to get in and out of the market even with the price movement on the minimum. Apart from that, you can pick the direction of your trading decisions. If you are the type that believe in that particular currency pair goes up, then you need to purchase it. But in case you feel that the currency pair will fall in price, then you should sell it.
Relatively low fees
It is well known that the brokers get commissions through spreads. And thus, because there happens to be no transaction fee, there are expenses which are few for a trader who is average. There might be some extra fee in certain scenarios but it is general low as compared to other stock market and commodity market fees.
Practice does make perfect
Most people prefer online currency trading because of the ability to practice. All the forex brokers offer free demo account to all traders. Apart from that, many have webinars and courses for free or for rather a fee which is minimal. Mini accounts with very small minimum deposit requirements are also practicing great. You can try getting the feel of the market without having losses which are devastating.
Risk and money management
In the forex just like any type of investment there is a chance that you will loss. It is not right to use a chance because a loss is inevitable. The good thing is that, you can be able to control your money and to risk with the limit losses of stop loss based on the irrational decisions.