News & Blog
Forex Or Stocks: Which One Is Better?
- June 10, 2021
- Posted by: Admin
- Category: Blog
Learning forex training skills is highly beneficial, but what if you’re interested in the stock market? Well, if you’re looking to trade within the stock market, it is important to understand that there are a lot of stocks out there. As of now, there are around 2,800 stocks on the NY Stock exchange. On the NASDAQ, there are even more with a whopping number of over 3,300 stocks. With all of these different stocks to constantly be keeping up with, trading in this market can be complicated.
With forex, things are a lot easier to learn. That is because while there are dozens of different currencies being traded, the majority of people trade within the seven major currency pairs. When you’re looking over seven pairs vs. thousands upon thousands of stocks, which one would really be the easier choice? Forex would obviously come out above the stock market, in terms of an easier concept to grasp.
Here at Smart Prime Academy, we want to go into the pros & cons of both the stock market and the foreign exchange market, and explain which one we believe is better.
When it comes to the stock market, hours are limited. In the United States, for example, the market will open at 9:30AM eastern time, and then close later that day at 4:00PM eastern time.
Forex, on the other hand, is a 24 hour seamless market. The majority of forex brokers open on Sunday at 5:00PM EST all the way until Friday at 5:00PM EST. When it comes to customer service, it is usually open and available to use 24/7, around the clock. Not only is forex great with its hours, but it is also a global market. This means you can customize your own trading schedule within the US market, Asian market, European market, etc. Whatever you see fit is yours to plan out. This makes your experience with forex much more customizable and personalized to your time and needs.
A large majority of stock brokers now offer service with zero commission, so this is less of a problem than it was before.
The same sees itself true with forex. Most forex brokers charge zero commission or additional fees to trade online or over the telephone.
Even with this information, it is generally concluded that out of the two, forex offers the lowest when it comes to costs and fees.
Whereas the forex market sees a turnover of $6.6 trillion everyday on average, the stock market makes a mere fraction of that sum.
There is no restriction when it comes to short selling in the forex market, where there is a restriction in the stock market. Opportunities for trading will exist in forex, regardless of whether or not a forex trader is long or short.
Trading of currency always involves purchasing one currency while selling another. This means that there also happens to be no specific bias. In the end, you’ll even have access to trade in the market regardless of whether it’s rising or falling.
How We Can Help
When you look at the big picture, and start to weigh out the pros and cons of the stock market and the forex market, it becomes evident that forex comes out on top. With the large number of benefits forex has to offer, you can grow the potential to become a highly successful forex trader with some lessons. Our trading courses in Richmond Hill are made by some of the most knowledgeable people in the forex market today. When you join our club, you are reaping all of the benefits a forex teaching site has to offer. If you’d like to learn more, be sure to call us at 1-877-870-0092 today!