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In recent years the Forex market opened up to individuals for trading purposes. Previously banks were monopolizing this aspect and made it difficult and costly for individuals to invest. This has since changed in that the individual investor now has direct access to Forex trading. This means that you also have direct access to market prices.
The competition that exists between the Forex broker firms and the financial institutions is making it less costly for individuals to invest. It is also “easier” in that as an individual investor you have control over your own investments, strategies as well as the currency pairs you wish to trade.
Individual Access to Forex Trading
The individual has direct access to Forex trading. This is made possible through the many Forex broker firms that are available online. In recent years South Africa has been earmarked as one of the countries that have given individuals the opportunity to invest in this way.
The most important part of Forex trading is the fact that trading can be accessed twenty-four hours a day, five days a week. You have a range of currencies with which you can trade. Some of the major pairs are the following:
- USD / EUR
- USD / AUD
- USD / JPY
- EUR / AUD
- EUR / JPY
- USD / GBP
More Forex Trading Benefits for Individual Traders
The fact that Forex trading is more accessible to individual traders allows them to have more benefits. With Forex trading you have access to four major markets over a period of twenty-four hours a day. You are able to trade for five and a half days as well. Other markets close for the working day and you have to wait for it to open the following day.
In most instances, depending on which broker you choose, you would have full access to the software, training, analysis and many other privileges. You would also benefit from the much lower transaction fees and commissions charged by the broker.
Your initial investment can also be quite low. This often referred to as a Mini account and you might start with as little $2000 versus a standard account which often starts with an investment of $10 0000.
The fact is that the trading often takes place with more money than what is actually in your account. The brokers often allow you to start with a demo account where you could first practice your skills before getting into the real trading.