Each trader will end up citing a different reason as to why they are on forex trade but each of them will have the same question while trading in forex in South Africa: what time does the forex market open in South Africa? After knowing the timings for trading, there is a lot of other information which relates to the forex trading that you have to know. Before making any final decision on what to do next, you have to do an intensive research using various sources.
If you do it well, the following are some of the benefits that you will get for trading in forex:
It is a global and large market
When talking about forex trading benefits, its scale and size is what is at the top of the list. Being the world’s largest financial market, it is able to exceed the $4 trillion mark which is exchanged on it each day of the year. Traders in various corners of the world are selling and buying currency pairs at various time of the day, which makes the forex trading to be a global marketplace with a lot of profitability scope.
It is the market’s breadth which contributes to the various benefits of the trading in forex that include liquidity, accessibility, technology, volatility and the trading hours.
- It is good for the newbies:Accessibility is known to be one of the main advantages of trading in forex. As compared to the other markets, it happens to be easy in entering and doesn’t require a large investment initially, explaining why it is popular with the hobbyist traders. But regardless of the capital amount that you place into it, to trade successfully requires skill and knowledge.
- Accessibility: It is one of the largest benefits of forex trading. As compared to the rest of the markets, it is quite easy to embark on it and doesn’t require a large investment initially, explaining its popularity when it comes to the hobbyist traders.
- Free demo accounts: It allows you to practice trading with forex without the risk, mostly providing a test run of trying before buying. By having to simulate a live trading environment, a demo account will give you the chance of getting used to the trading platform, being able to familiarize yourself with the movements on the market and developing risk management strategy without the need to make any financial commitment. Most brokers will be able to give you demo accounts if you want to join forex trading and thus, take full advantage of such tools in the beginning.
You will be able to trade 24 hours for five days in a week
The hours for rolling out of the market are another advantage that you will have when it comes to trading in forex. The exchange of foreign currency takes place OTC – over the counter, meaning transactions are able to be made directly between the parties who are trading and it is facilitated via a broker for forex.
Because it operates in such a way, it is possible for forex trading not to be subject to the hours of trade in a particular exchange system that is centralized. So long as there happens to be a market which is open somewhere in the world, the deal can be able to take place.
