Work From Home With Forex
I have noticed that there is increasing interest in the concept of “working from home” and a popular method to employ is increasingly Forex trading. The working from home concept is undoubtedly driven by the current economic crisis, lack of funds, job losses and long daily commutes. Forex trading is gaining increased popular appeal as it provides a vehicle for people looking to brake free from the corporate world and start working from home or any where else, as all you need is internet access, without losing their current lifestyle and in fact achieving greater reward both financially and by way of work/life balance.
While the world is full of hedge fund managers and commodity brokers, popular consent is that the best and most profitable of the capital markets is the Forex market. Thanks to huge advances in technology and the internet it is now possible to trade Forex from home. Gone are the days when the only players in this highly profitable market were the major banks and other large financial institutions. In the US foreign exchange was the domain of the Federal Reserve.
There are many advantages and benefits of Forex trading including that there are not any fees attributable and the profits are not subject to income tax. Unlike most stock market enterprise involving having to watch hundreds if not thousands of mutual bonds and equities, Forex trading involves watching paired currencies the major currencies being US Dollar / Japanese Yen – British Pound / US Dollar – US Dollar / Swiss Franc – Euro / US Dollar.
As a result of their great popularity in world’s commerce transactions and its high activity these five currencies account for over 70% of North American trading. Of course there are other tradable currencies; they include the Canadian, Australian and New Zealand Dollars. These minor currencies account for 4% – 7% of the total market volume. Together, all these five majors and minors currencies constitute the core structure of the Forex market.
Like any of the financial markets, Forex is subject to great fluctuations, and the greater the risk, the greater the returns, both positive and negative returns. The goal in Forex trading is to minimize the risk and maximize the gains. I recommend that you enter the Forex trading market with a demo account before you use your own money. This will enable you to analyse the potential to create great wealth which is what we are all endeavouring to achieve.