Forex is unique because it gives you a so-called freedom of trade. For instance, when we compare it to New York Stock Exchange, we see that there are fewer rules and regulations involved with forex trading. It is not controlled by a single board of managers and agents who oversee every exchange. That can be helpful for some because if you get an exclusive inside tip about a possible future currency change and you use it to make profit, there is absolutely no way for the deal to get canceled, unlike the similar deals done on New York Stock Exchange.
Also, there are fewer fees. As a matter of fact, there are absolutely no exchange fees. Of course, brokers have to make money somehow. The difference in money you pay to buy or sell currencies is their profit. It is worth mentioning that there are no brokerage fees as well, even thought that is a common trait in most markets. Brokerage fee is usually charged by an agent or a company if they act as a middle man between buyers and sellers. They are even prone to charge a simple advice.
Some markets put limits on the money you are allowed to spend daily, weekly, or in general. However, there are no such things on forex. The amount of money you are willing to sell is not restricted. If you want to sell one million dollars, you are free to do so. It is the same way if you are buying – there is no maximum.
The popularization of the internet changed the world. Surely, it also made a huge impact on the way the currency trade is done. The accessibility and the rapid development of new technologies allow almost everyone to take place in online currency exchange if they wish to do so. Since Forex spreads over the time zones and it is not fixed to one place only, you have the opportunity to choose when and where to trade money. There is also no need to make it your primary occupation. It can be done during the free time, without putting your job in jeopardy. The market is open around the clock and currency trading happens every minute. You can rarely get stuck with selling or buying money since the market is always active and all you need to do is to simply push the button.