Looking For A Work From Home Career? Consider Forex Trading.
If you are a stay at home mum and you are exploring opportunities to earn an income from home, here is an option for you; Forex Trading. Retail forex trading or trading by home investors such as mums and pops are becoming more and more popular each year.
The appeal of large profits is part of the reason but the ability to work for yourself, the flexibility of a home location, forex trading offers and ease of access to online Australian forex brokers are other big reasons.
So, what is forex trading and why is it a great option for work from home mums?
What is Forex Trading?
Forex trading is where you speculate on the value of currency pairs AUD/USD, EUR/USD in the expectation the value of one currency will appreciate or depreciate against another currency. With forex trading you don’t physically own each currency, you buy ‘units’ or ‘lots’ of the currency for trading purposes. This means you buy the underlying asset, not the actual currency.
If you are trading EUR/USD, then you can speculate the USD will get stronger or weaker against the EUR or vice versa by buying ‘lots’ of them at prices that mirror prices from currency exchanges. This gives you the chance to sell them at profit should the USD move in a favourable direction for you in the forex market.
You Can Choose Your Hours
Forex trading allows you to trade at any time of the day for as little or as long as you wish. This is because if an exchange is closed in one part of the world, forex liquidity providers are active in another time zone region.
Forex trading is available 24 hours a day Monday to Friday. 15 forex exchanges operate in different time zones around the world through the working week. Time zone overlap means you can also trade during Saturday and Sunday.
It Is Location independent
One of the great things about Forex trading is that you only need access to a browser with fast and reliable internet connectivity to trade. Depending on your broker and platform, you can trade using PC/laptop, phone or tablet and common operating systems such as Android, Windows and Mac/iOS. If your internet connectivity is fast and reliable, then there are barely any limitations where you may choose to work from.
Low Capital Needed
Another very appealing factor is your start-up fees for trading are minimal. Many forex brokers don’t have fees to sign up with them or open an account. Brokers, however, will require minimum deposits to commence trading. This can come in the form of minimum fee to open an account or margin required. Margin required is the proportion of capital you need in an account to open your position.
Provided you have met your requirements to open a position, you can then use leverage to gain access to more capital. Brokers may offer leverage as high as 500:1, which means for every dollar you have deposited in your account, you will be loaned an additional $500 from the broker.
Should you decide to take up Forex trading, there is a wealth of learning material available on the internet. Good brokers such as Pepperstone produce training material, which is available free to clients.
Training resources cover all aspects of forex trading and can be made up of PDF guides, videos, YouTube series and even live webinars which allow you to ask experts all your questions. Trading forex is not a very complicated option. Regardless of your background, if you have an interest in learning how to trade forex and put in the effort, you can be trading in a short time.
In addition to learning materials. Many brokers will offer demo access to their trading platforms. Demo platforms provide an opportunity for you to practice trading in real-world conditions with virtual cash. By testing your strategies, you can improve your ability, which will get you ready for trade before you invest your cash.
A Solid Source Of Income
Forex trading is becoming more and more popular and part of this is due to the lure of making great profits on your investments. If you invest the needed time learning about forex, honing your trading skills and trade smartly then the opportunity is there for an income you can earn from home.