Ever since the introduction of the internet, products and services that were once difficult to reach have now become more accessible. Trading is one such example, as financial services looked very different not too long ago. Indeed, the concept of retail trading is a relatively new phenomenon that gained traction in the past few decades due to the development of the internet. Before retail trading, global markets were only accessible to institutions that would trade on behalf of individual or commercial clients.
What is a retail trader?
By definition, a retail trader is an individual who is able to trade using their own personal funds. This phenomenon has also become possible as a result of digital technologies that have broken down barriers to individual finances. Whether as a hobby or a mainstream of income, it’s possible for retail traders to earn impressive profits on their own terms. Looking to take advantage of today’s accessible markets? Sign up to LonghornFX to access a wide range of tradable assets through the excellent MT4 platform.
Trading: Then Vs. Now
Trading has come a long way since its early days. Modern traders are lucky enough to have a wealth of resources at their fingertips, which may help them become better traders, faster.
1. Technology
The widespread accessibility of technology means that traders can access the markets from virtually anywhere in the world. All they need is a device and an internet connection. Moreover, traders can use their phones or computers to read market news, find the best online brokers, and make better trading decisions by keeping themselves updated with the latest developments.
2. Education and Resources
The world of trading can be daunting to new traders. But with easy access to economic calendars, technical analysis forums and forums where you can discuss trading with peers, it’s never been easier to access information and learn. You can even gain access to free Instagram economic calendars and technical analysis through Telegram.
3. Space to Grow
Like many things in life, trading constitutes a series of trial and error. The more you practice, the better you become at understanding markets and managing your emotions as a trader. But this does not mean that you have to lose funds in the process. Brokers like LonghornFX allow you to open a free demo account through the MT4 platform to practice trading using virtual funds.
4. Using Leverage to Trade
Trading can be made far more profitable by using leverage. With leverage of 1:500, your funds and profits are multiplied by 500 allowing you to open larger positions on any asset of your choice. Finding a broker that offers high leverage is a key step in enhancing your ROI.
5. Instruments for Every Trader
Modern traders are truly spoilt for choice when it comes to picking what assets they want to trade on. Whether you’re after popular cryptos like Dogecoin or Bitcoin, or are looking to trade FX Majors, Minors, Crosses, LonghornFX offers all you need and much more. Sign up today to trade Forex, Crypto, Stocks, Indices, Commodities and more with up to 1:500 leverage at LonghornFX!
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