Forex trading myths busted.

Why Trade Forex? Busting The Myths

Forex Trading as an option of Entrepreneurship

Forex Trading myths busted
Forex Trading myths debunked. Pic attribution: pushmoneyapps.com

It often amazes me when I hear or read about all sorts of reasons people give for not wanting to trade forex.

This led me to record a series of short videos as well as write a blog series “Demystifying Forex Trading Myths” that can be seen here.

If I had my way, everyone I met would become traders, what’s my reason?

It is easy to get into.

As against the myth that Trading is for the elites in the society, it is easy as googling Forex trading platforms in UK or whatever country you live in, fill a few details and you are in, no discrimination just documentation and information required.

Low learning/ training time and cost.

When compared to university tuition, its takes a lot less time to learn Forex Trading and it definitely costs less.

No degree required as prerequisite to trade.

Myth has it that you must have a Degree or Masters in Investment Management but really a full day’s training and 2 to 4 weeks live market mentoring should do, while you perfect your trading strategies with virtual money via a demo account.

Low minimum Capital outlay required to begin to trade.

Despite the false belief that Trading is a millionaire’s game, the truth is that you could begin trading with as low as £100.

You can trade anywhere in the world so long as you have internet access.

One thing I love about Forex Trading is the fact that you can trade anywhere in the world as long as you have you mobile phone, or tablet and internet access.

You can trade anytime of the day.

The Forex market is open 24 hours from Monday to late on Friday night.

You can practice using virtual money in real live market while you perfect your skills.

You can practice and perfect your trading skills and strategies in real markets with real-time live data but virtual money. This give you room to make mistakes without losing real money.

Currently Tax Free in the UK as at today 06/04/2016.

As I write, Forex Trading is tax-free in the UK, meaning that you get to keep all that you make legally.

By Sanmi Thompson

Sanmi Thompson is the Founder of Forex Trainer Online. He is contactable via email at: Sanmi@ForexTrainerOnline.com. Subscribe to his Forex Tips on his website: www.ForexTrainerOnline.com

 

6 thoughts on “Why Trade Forex? Busting The Myths

    1. I have never used that trading platform or company before and as such I won’t be able to make recommendations regarding it. If you want, I can gladly point you in the right direction by giving you details of someone who can answer your question

I'll love to hear your thoughts. Let me know what you think about this article.