Based on some statistics it is thought that approximately 90% of retail traders fail to make money currency trading. This is a scary thought for someone wanting to start out as a forex trader. Yet new people are attracted to forex trading every day and its obvious as to the reasons why.
Forex trading offers leverage benefits whereby a small margin deposit can control a much larger total contract. These days getting started in currency trading doesn’t cost much either. Some Forex firms now offer ‘mini’ trading accounts with a minimum account deposit of only $200 with no commission trading, making forex trading much more accessible to the average individual. Forex trading offers the ability to make money trading currency pairs either ‘up’ or ‘down’, so a trader can profit either by going long or short, hence there is never really a bear market in forex: the ultimate recession proof business.Yet statistics tell us that things arenâ