Don't forget to help support Western Mass literacy programs and the Springfield Public Libraries. Use that donate button in the left side bar!!
This is a follow up to the previous post about Forex. I know that this one is coming literally right after the last one but I wanted to make sure I caught the enthusiastic currency trader before they jumped in. If you are getting ready to jump into Forex I urge you to look around. First off it there are a few prevalent Forex brokers available which gives you a great starting point to do some good research. Very Important: Just like any other financial endeavor you need to find the broker that is right for your style. I like to think that the broker I mentioned before is pretty well rounded but it might not be right for everyone. The other neat part about it is that some offer an affiliate program so if your friends decide to try out the currency market and they go through you and this website there’s a little extra monetary incentive for you. I’m all for exploring new possible ways to generate income and pass it on to my readers because that is what Financially Digital is all about, creating smarter consumers.
I also wanted to mention what’s to be expected about Forex in the coming articles. We briefly covered the Spot Market but there are also the Future’s and the Forward contracts to go over. What’s different about these is that it’s not currencies that are being traded but the rights to them that are being exchanged. Another big part of Forex is seeing how countries interact with each other and how that affects the prices of currency. Things like the purchasing power parity and the interest rate parity give a behavioral insight to what goes into the pricing of currency.
I encourage my readership to explore all parts of the financial world because it isn’t just stocks, bonds, and time deposits. It’s that exploration that will make you a well rounded and very aware consumer. With every financial decision though make sure it makes sense for you and that you understand it. If you’re not sure consult your financial professional and you can even shoot me a line, I’d love to help out.