Forex. The name itself sounds like it’s synonymous to endless money making possibilities. Aside from me, I know several bloggers who are also investing in Foreign Exchange.
No other business or opportunity can claim to be bigger than forex, Just imagine US$1.5 trillion dollars being traded each day in the market. That is not a typo — it is indeed US$1.5 trillion dollars being traded on a daily basis.
If you are willing to learn the ins and out of this industry and don’t mind taking a calculated risks, it could mean a lot of monetary rewards for you.
But did you know that there are several great ways to make money on Forex?
Here are 4 of them:
Forex (sometimes FX) is short for ‘foreign exchange’. It involves the trading of foreign currencies. Because it virtually involves every country in the world, forex is the number one market today based on the amount of cash or funds that gets bought and sold through it. It is highly speculative, which may consider as risky but hey! its better than gambling right?
If you want to make money on Forex, you can try the direct approach and begin trading foreign currency yourself. Start by learning how the market works and behaves. Get as much information and training as you can. Avoid going into anything related to forex if you have zero understanding of what it is.
Once you have a good understanding of forex, sign up for an account. Forex can be traded online if you are enrolled in online banking, so you can work conveniently from home.
You will need to start a portfolio with your own funds. You don’t have to start big, though. There are many accounts you can create that will only require you to invest a minimum of $30.
Become an affiliate.
Another great way to make money on forex is to become an affiliate. There are affiliate programs you can sign up with that let you create your own account and then earn commissions based on your recruits. You only need to attract interested parties to the program and once they sign up under you, the program will pay you.
Become a broker.
Do you already consider yourself as an expert? A broker’s services is often required by investors to assist and guide them when trading stocks, options and futures or deciding whether or not to sell or buy.
Once you’ve gained enough experience, you could become a broker and earn commissions from your clients’ transactions.
Become a guru.
Once you have learned how forex works, why not help others who are just starting themselves? This is another great way to make money on forex. Earn by providing information, guidance and assistance to other investors, particularly newbies.
You can sell information as premium content on your blog or offer it as e-books or seminars. This can be an excellent money-earning opportunity part-time, although once you’ve gained a following, you can choose to do it full time.