Why trade Forex in 2021 with Avatrade?
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FX top pairs
|EUR-USD||Euro against US dollar||400:1||0.25%|
|EUR-GBP||Euro against Pound sterling||400:1||0.25%|
|GBP-USD||Pound sterling against US dollar||400:1||0.25%|
|USD-JPY||US dollar against Japanese Yen||400:1||0.25%|
|AUD-USD||Australian Dollar against US dollar||400:1||0.25%|
|USD-CAD||US dollar against Canadian dollar||400:1||0.25%|
|EUR-JPY||Euro against Japanese Yen||400:1||0.25%|
|GBP-JPY||Pound sterling against Japanese Yen||400:1||0.25%|
|USD-CHF||US dollar against Swiss franc||400:1||0.25%|
Forex Trading definition
The FX Market a.k.a. the Foreign Exchange Market is a decentralised exchange where all the world’s currencies are actively traded. While other markets have a centralised location, FX trading takes place electronically, anywhere and everywhere.
Did you know that currency trading takes place 24 hours a day? As the world’s most liquid market, forex trading volumes have topped $6.6 trillion per day (2019 figures), with rising numbers of forex traders entering the scene. Such is the size and scope of the forex markets, that it dwarfs all other major markets combined.
Global currency trading activity is off the charts, and FX trading confers many benefits to you too. As you’re about to find out, forex presents incredible trading opportunities, and AvaTrade South Africa is ready to reveal it all to you. Open today a forex trading account and start!
Forex Trading in South Africa Main questions
Can you get rich by trading forex?
Most traders start their forex career with hopes for getting rich, but is that truly possible? As with any type of investing there are risks of course, and the best way to get rich is to start with a large amount of capital. Forex trading can be a real struggle, and data shows that more than two-thirds of forex traders don’t make money in any given year. Yet of the one-third that do make money some are indeed getting rich. If that’s your hope too then be sure to safeguard your account by using stop-losses, limiting your leverage, and use a reputable forex broker like AvaTrade.
How do you start trading forex with $100?
AvaTrade offers a forex mini-account where you can start your trading journey with as little as $100. It’s an excellent way to become familiar with the markets, and to begin learning about your own trading style. You may not get rich, but you will get some valuable trading experience in live market conditions, and that can’t be replaced, even by demo trading. In addition to that you should begin to develop some profitable strategies for trading the forex markets. If you have limited funds starting out this way can be your entryway to some of the most exciting markets available.
How difficult is forex trading?
Forex trading can be extremely difficult when you’re just getting started, but as time goes by and you gain more experience it becomes easier. The early difficulties are simply the learning curve as you come to understand the jargon, how to use the trading platforms, begin studying technical and fundamental analysis, and everything else that goes along with trading forex. As time goes by many of these things become second nature, and at this point forex trading becomes much less difficult. It might never become easy, but nothing worth having is ever easy, is it?