Why MoneyplantFX Is The Best Platform For Forex Trading In Around The World

Exchange of currencies has been an integral part of trading across counties for centuries. For every import-export currency exchanges hands make it a huge market for corporates and companies other than individuals to invest in. The Forex market has the highest trading volume in the world as the trading takes place 24 hour a day for five days a week. Forex trading in India has seen a jump in the last few years, especially from traders looking to earn a profit  from the rise and fall of the currencies. Where corporations look at locking in a price for long term savings, individuals are looking for more immediate return.

Foreign exchange rates get impacted by various factors such as inflation, change in interest rate, economic or political stability, change in import export etc. As the factors are many and diverse, it’s always suggested to start small when it comes to forex trading for beginners.

Trading on forex requires one to familiarize themselves with the trading terminology as well as forex trading strategies. Depending on the time period one is looking to be invest for and the number of trades being done there are four strategies to utilize. 

1. Scalp trade is the strategy for investors looking to trade within a matter of seconds or minutes. They will do multiple trades in the peak time of the day and invest in the most liquid pairs to make small amounts of profit and tie it together to make a decent sum at the end of the day. 
2. Day traders plan on holding the trade for not more than a day and liquidate it in a few hours. These traders are relying on their knowledge on the technical indicators and analytical skills to make a profit. Similar to scalp traders, the day traders also look to make multiple transactions to make a substantial profit.
3. Swing trade is for those looking to hold onto the currency for a few days or weeks. This trade does not require one to constantly monitor the market, but look more at the political and economic factors which lead to change in the currency rates. 
4. Position trade is a strategy for long term investment which can be for months or even years. These investors look at fundamental analysis and need to find a reason behind making transactions. 

Forex market trading is a decentralized market, thus using the right forex trading platform is a must. These platforms should not only provide options for various currency pairs, high liquidity and a good leverage but also have transparency when it comes to commission and hidden charges. MoneyplantFX leads the market in all these factors and more. What’s more, you can open a demo account to try your hand before diving in. So get started today.