Why every woman should consider Forex Trading as a second income

From the dawning of time and through the ages there has been a substantial amount of stigma surrounding the role that women play in the society which has mostly been determined by different cultures, religions, beliefs, and various other social systems and factors.

Despite the modern times, and the fact that the majority of the world has moved on from such, there are however still countries where what women do is dictated by such social systems, but for the greater part, the women of today have become an integral part in all industries and sectors spread across the world.

Trading, in itself, is a platform where there cannot be distinguished between age, gender, religion, or culture – it is an open platform that welcomes any, and all, participants who are looking at solidifying alternative or additional income.

Trading Forex has become increasingly popular in the last two decades, with the advent in technology that has digitalized processes on a grand scale in addition to making trading platforms significantly accessible. View the best FSB regulated Forex Brokers in South Africa.

In trying times, such as with the Covid-19 pandemic, a lot more people have looked towards trading Forex not merely as a pastime, or a hobby, but more greatly to secure additional income when the employment sector is all but in shambles.

Why should women consider Forex Trading?

1.  It is easy to start and learn

Becoming a professional trader does not involve rocket science, and anyone can do it, provided that they gain the necessary skill, knowledge, and experience.

This can easily be done through various educational tools that are freely and widely available on the internet, and in most cases, provided free of charge by Forex brokers.

The majority of brokers also offer a demo account which can be used to practice trading, gain exposure to the live trading environment in a risk-free manner and it can be used as a medium through which trading strategies can be applied and tested.

2.  The Forex Market is volatile and liquid

Currencies are consistently and constantly being traded on the Forex Market and it is the largest financial market in the world with around $5 trillion in currencies traded in a day.

Due to the high volumes that the market experiences, there is a near constant fluctuation in price movements, making this market the most volatile.

Female traders can benefit greatly from this should they have trading strategies that accommodate such volatile conditions.

Due to the high volumes of trading activity that the Forex Market sees, the market is one of the most liquid markets – boding greatly for lowered transaction costs in addition to the speed with which transactions can be executed.

3.  The Forex Market can be accessed easily

The Forex Market never closes, it is available 24 hours of the day, five days a week and seeing that there are numerous time zones, there is a constant flow of traffic. When one market closes in one zone, another, or a few others, are still open.

There is a great variety of Forex brokers who offer their services and depending on the trading needs of female traders, there are numerous brokers that will fit the bill with comprehensive and competitive trading conditions.

There are several reliable, user-friendly, and comprehensive trading platforms such as MetaTrader 4 and 5, amidst others, that can be used in conjunction with a trading account to gain access to the Forex Markets.

Due to technological advances, and comprehensive offerings from brokers and trading platforms, trading does not have to something that requires only a desktop computer, provision is extensively made for mobile trading using smartphones, laptops, and tablets.

4.  Low transaction costs and fees

Due to the high liquidity and fast execution speeds, the transactional costs involved with Forex trading is a lot lower than when trading other financial instruments.

There are also a lot of brokers who offer favourable trading conditions pertaining to broker and trading fees that meet the needs of a variety of female traders, whether they are beginners or more professional.

5.  Vast amount of trading possibilities

There are numerous currency pairs that can be traded on the Forex Market, and the only limit depends on the currencies that the broker offers traders who use their services.

Often brokers who offer the trade in other financial instruments may only offer a few currency pairs, especially Forex majors, but Forex Brokers offer a vast amount such as USD/GBP, EUR/USD, USD/JPY, and more, varying from major to exotic currency pairs.

6.  Leverage

To start trading Forex, female traders will not need a substantial amount of capital, as long as traders ensure that they have a trading plan and finance management plan in place to cover trading and non-trading fees and they can compensate for any losses.

Leverage is an extremely useful tool which allows traders to open larger positions against their initial deposits, increasing their chances of great gains, but when used incorrectly, can expose traders to substantial losses that may exceed their initial deposit.

Brokers offer leverage that starts from 1:1 even up to 1:2000, depending on the broker and especially the regulating authority and regulations that the broker is obliged. The FCA, for instance, only permits leverage of 1:30 for Forex major pairs in EU-jurisdictions.

7.  Trading psychology

Although there is no discrimination between men and women when it pertains to trading, women, however, have shown significant psychological traits concerning trading.

Trading is, regardless whether part- or fulltime, an incredibly stressful task and it has been observed that women deal with trading mistakes in a more constructive and professional manner and that women handle emotional turmoil extremely well.

In addition, studies have shown that female traders take risks more often while simultaneously adhering to their trading strategies and abiding to practices of self-discipline in avoiding emotional or chaotic trading.

This is done through the ability to evaluate a situation and measuring to which extent it can be controlled, which works really well with mitigating, managing, and minimizing any actions that may lead to exposure to risks, and the incurrence of losses.

Final Thoughts

The trading of currencies has become increasingly more accessible to all kinds of traders all over the world, and anyone can start. More women have turned towards trading Forex as an additional and alternative income, and studies have shown that women excel in this.

Although trading carries its own risks, women have been known to deal with risks sufficiently while taking chances more often based on a systematic, calculated approach along with dealing with conse