Forex or currency trading has really become a popular form of online trading. You can get started with a great deal less money in your account (as little as $100 with many brokers). you be given the opportunity to earn a ton of profit. At least such is the lure, but for most Forex players, that dream never does happen. In this article we will look at some of the reasons why.
There are many reasons why I like index trading or binary options over Forex plays. However, there are two main reasons.
With the Forex market you’re dealing with banks around the world. Banks have their own professional traders who’re very active in currencies. While their are Pro traders in any market, I just do not trust banks or bankers.
If you must trade currency, why not trade binary options on currency. These little options aren’t controlled by banks or goverments and you will not be competing with their professional traders. In fact, you’re not competing with anyone when you trade binary options. They aren’t like ordinary market trades. Anyone who trades them are just trying to make winning plays. It doesn’t matter to them if you win or not. Unlike Forex and other markets where Pros and floor traders are making a living picking off your stops and limit orders.
The risks/rewards are pre-established through the agent with an options trade. A trader must only accurately predict the motion of the market before a set expiration time.
I could give you a ton of other reasons why I prefer binary trading to Forex. However, then it would become a book rather than an article.