Many young people are turning towards the forex trading alternatives to boost their return on investment. This is the main reason that the Forex Market is 12 times larger than the futures market and 27 times more than Equity investments! The same even beats the transaction values of the greatest stock exchanges of the world.
Apart from the above, here are few reasons to look out for the best online trading app in India. This is vital to gain the best results for your needs –
- 24-hour trade availability
With the forex market along with using the best online trading app in India, you do not have to wait for the market to open. Also, there is no dearth of options in these forex trading markets. As a result of the same, you can opt to trade in Australia during early hours of morning and earn money in New York during evenings. As a result, if you are doing a regular job and have free time in the evening, this is a good idea to increase your income.
- Lower transaction costs
Due to the entry of many players, the process has lower trading and clearance fees. So, you need to pay lower taxes, commission, and brokerage on the transactions.
For instance – the usual transaction costs are less than .1 percent. For a larger spreading, the same can go down to as low as 0.07 percent! This means more saving on bulk investments!
- Variable lot sizes
In the forex market, by using the best online trading app in India – a lot of contract sizes are determined. For example, the standardized contract for silver trading is close to 5000 ounces. Using the forex trading, you opt the best size for your needs and expectations.
As a result of this, trade can be made in the app for as low as 25 dollars! This means that anyone can get entry into the forex market using these apps – even with lower monetary value. Some of the leading brokers offer mini and micro trading options.
- Helps to avoid bias
The broker and seller bias occurs commonly in financial trading. This often happens when the broker gives financial advice based solely on the factors that deliver him huge profits. On the other side, when you trade using the apps, you can easily avoid any form of buyer and seller bias and get the best results for your investment.