| Headquarters: | Seychelles: office 10, floor 2, Vairam Building, Providence Industrial Estate, Providence, Mahe, Seychelles Cyprus: office 102, 13/15 Grigori Afxentiou, 4003, Limassol, Cyprus |
| Foundation Year: | 2012 |
| Country: | Seychelles |
| Email: | [email protected] |
| Trade Platform: | MT4 for Desktop, MT4 Web Terminal, MT4 Android, MT4 iPhone Trader, MT4 iPad Trader MT4 Multi Terminal, MT5 for Desktop, MT5 Web Terminal, MT5 Android, MT5 iPhone Trader, MT5 iPad Trader, Platform for Android, Platform for iOS |
| Acc Funding Methods: | Credit Card, Debit Card, Western Union, Perfect Money, Neteller, Skrill, FasaPay, Internal transfer, Local Deposits, Bitcoin, TrustPay, Boleto, Multiple local methods, Sticpay, PayTrust, PayRetailers, Payment Asia, Crypto, Absa , Help2pay, Pix |
| Max: Leverage: | 1:3000* |
| Min. Deposit: | 1 |
| Base Currencies: | USD EUR GBP JPY MYR IDR THB VND KWD CNY ZAR |
| Min. Spreads: | 0.2 pips |
Everybody knows that the forex market is the largest liquid financial market globally, where almost $5 trillion exchanges in a single day. However, although there is a huge chance to make money in forex, some cons are available. In this topic, we are going to learn about the pros and cons of forex trading.
Pros of Forex trading
The forex market is the largest financial market in the trading volume where daily $5 trillion exchanges are having by traders. You will be happy to know that you can enter this market with a few very easy steps. Anyone can join here with some basic knowledge and exit with profits. There is a very good opportunity to trade all of the major currencies.
The most interesting thing is anyone can earn money from forex trading from home, and it's a completely freelance occupation for people. The market is opened for 24/5 in a week; that's why anyone can trade from anywhere at a reasonable time. Normally, people work in offices 24/6 or 24/7 a week; in forex trading, you get two days to make your weekend happier.
Cons of forex trading
We have learned about the pros; it's time to know the opposite side of forex trading. There are many things in forex trading; forex brokers, Banks are offering a high amount of leverage to traders. Leverage allows traders to control large positions in trading, and a trader can control $1000 amount of positions while they have only $10 in their account. This is the riskiest point in forex trading. A lot of traders are losing their capital by using high leverages.
The forex market is volatile; you won't believe how it can moves. Sometimes forex market shows too much volatility; as a result, traders are losing their money in trading.
There is one most important point for traders. Every trader needs forex trading software to trade. Most of the forex software requires a proper internet connection. Otherwise, your trade will not be accurate. If you don't have a stable internet connection, you can face a big problem while trading. For example, suppose you have opened a position in 1.2345; if your internet connection is slow, it will not be opened as your determined position. To avoid these types of harassment, brokers are offering virtual servers for trading, which is costly for newbies.