Why Trade Foreign Currencies?

Here are some reasons why so many people engage in Foreign Exchange currency trading:

Low start-up cost Start-up costs are low compared with trading stocks or futures. Online forex brokers offer 'mini' and 'micro' trading accounts, some with a minimum account deposit of $300 or less. Forex is accessible to the average individual who doesn't have a lot of start-up trading capital.
No bear market You can make money whether the market is going up or down.
24-hour market Forex markets trade 24 hours a day. There is no waiting for the opening bell. You can make money working only a few hours a day or week on your computer.
No one can corner the market The foreign exchange market is so vast and has so many participants that no single entity can control the market price for an extended period of time.
Trade from anywhere You can trade from anywhere in the world where there is an internet connection.
Greater focus When trading stocks, there are over 40,000 stocks to choose from. In forex, you can choose one or two currency pairs and focus on them.
No commissions Forex brokers are compensated for their services through something called the bid-ask spread. There are no commissions, clearing fees, exchange fees, government fees or brokerage fees.
No middlemen This allows you to trade directly with the market responsible for the pricing on a particular currency pair.
No fixed lot size In the futures markets, lot or contract sizes are determined by the exchanges. A standard-size contract for silver futures is 5,000 ounces. In spot forex, you determine your own lot size. This allows traders to participate with accounts as small as $250.
Low transaction costs The retail transaction cost (the bid/ask spread) is typically less than 0.1 percent under normal market conditions. At larger brokers the spread could be as low as .07 percent.
Leverage In forex trading, a small deposit enables you to trade amounts much larger than your deposit. This is called leverage. It gives you the ability to make big profits, and at the same time keep risk capital to a minimum. For example, some forex brokers offer 100 to 1 leverage. This means that a $1,000 deposit would let you buy or sell $100,000 worth of currencies.
High Liquidity The forex market is extremely liquid. This means that under normal market conditions, with a click of a mouse you can instantaneously buy and sell at will. You are never 'stuck' in a trade. You can even set your trading platform to automatically close your position when your profit target is met, and/or close a position if a trade goes against you.
Free "Demo" Accounts, News, Charts, and Analysis Most forex brokers offer 'demo' accounts to practice trading, along with breaking forex news and charting services. All free. These are valuable resources for traders to hone their trading skills with 'virtual' money before opening a live trading account and risking real money.