The stock market is an overwhelming thing. Thousands upon thousands of companies are listed, each with their own nuances and intricacies that can affect price. When you trade gold against a currency, it is much easier to hone in and learn everything you can about that relationship. Knowledge is power, and you can become a powerful gold trader in no time. Here are some key reasons why gold trading on the Forex market is superior to stock market trading:
Gold is traded on the Forex market, which is open 24 hours a day on weekdays. No matter where you are in the world, you can trade at any time and create a trading schedule that fits your busy lifestyle.
When you trade gold online, there are minimal broker charges. Most brokers are compensated through the bid/ask spread, not opaque and costly charges associated with stock market brokers.
Under normal market conditions, your gold trades are executed instantly. This allows you to take advantage of real-time prices, which is key if you want to adopt a scalping strategy. Scalpers make tons of little transactions throughout the day, reaping small profits that add up over time, so speed and real-time chart action is vital.
Gold trading is decentralized, so you don’t have to deal with a middleman. Having someone between you and your trading costs you money and time. With no centralized exchange, you get easier access and lower fees.
The Forex market is huge, and there are so many traders and currency up for grabs that there is extremely high liquidity. There are trillions of daily transactions executed all around the world at all hours. This means that you can enter and exit the market with ease. You can trade in quantities of any size, increasing your potential to make massive profits.
No Market Manipulation
Spot currency markets have unprecedented liquidity. There are plenty of big players on the scene – governments, banks, hedge funds, currency conversion houses, rich traders – but no one player can have a large effect on a particular currency. Even expert Forex analysts have little effect on exchange rates. Compare this with the stock market, where large fund buying and selling can make a stock yo-yo.
Gold trading has many clear advantages over the stock market. Don’t let this incredible opportunity pass you by – are you ready to join the ranks of successful gold traders?
How to Trade Gold?
Take advantage of the daily changes in the price of gold. Start trading gold today by opening a trading account with easyMarkets and get up to $2000 bonus*. As an industry first, they have also launched a unique deal cancellation tool as a way to manage your risk on any bad trades. By selecting dealCancellation on the trading platform whenever you make a trade, you can cancel your losing trade within 60 minutes and get your money back. *Terms and Conditions Apply
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