Since February 2020, the world has been in free-fall. There have been colossal changes to just about every element of our daily lives. Some of the biggest impacts, of course, have been felt in the world of money-making. Working from home, gig economy spikes and more – and what’s really interesting is the fact that forex trading appears to be on the up and up.
There are plenty of solid reasons for this which we’ll soon explore below. However, despite forex’s famous volatility and the fact that global events can set pairs skyrocketing or plummeting at will, it only seems to be pulling in more and more interest. If you’re a curious or budding trader, we really think you should consider forex as a first option.
Of course, it really does pay to do your research. Regrettably, we can’t give you all of the answers in this article, but we can whet your appetite. For example, be sure to head on over to specialist advisors such as those at AskTraders. Before you read into any other FXTM reviews, be sure to see what their experts have to say on getting started.
Without further ado, let’s consider why leaping into forex might just be the passive income driver you’re looking for.
The world is re-adjusting
The pandemic has, of course, resulted in devastating changes to economies all over the globe. Borrowing and debt are worryingly high. No one’s really sure where COVID-19 protectionism will end – these are elements that can add to a pretty shaky marketplace.
However, as of summer 2021, the world is in a much more confident place than it once was, at least when it comes to mitigating COVID-19. Vaccines are rolling out, and we understand how to treat the virus better than ever before. This is all relevant to forex for the simple fact that, yes, markets will be returning to old strengths we saw before the pandemic hit.
As mentioned, no one really knows when the worst of the virus will be contained. That said, many nations are optimistic that they are returning people to a ‘new normal.’ In many cases, that also means that economic strategies are returning to strength. That’s despite debt – but if economies are at least confident, then pairs in forex can gain new strength, too.
Therefore – forex is set to grow even stronger in the months to come. It’ll likely come as the pandemic eases even further in the months to come.
Forex interest exploded in 2020
As the world adjusted to new ways of making money, forex saw enormous spikes in the latter half of 2020. In fact, figures show that there was a boom of around 300%, markets-wide, during that period. This is clearly a very rare spike. That type of growth is completely unprecedented, and while there are periods of interest spiking from decade to decade, few are so condensed into such a short period.
The figures are holding strong, which means that forex is holding up its end of many bargains as far as value and growth potential are concerned. Therefore, it is absolutely worth investigating this side of trading for the hidden perks.
Forex is famously volatile, however, thanks to its relatively low buy-in, it remains to be said that it is one of the most accessible ways to trade right now. Of course, if you know even a little a bit about trading, you’ll recognize that dips and spikes can happen at any moment.
That said, interest doesn’t really seem to be waning. However, some warn that forex brokers may struggle under increasing demand if it continues to move forward at such an exponential rate.
There are more forex guides available than ever before
Again, thanks to the relatively simple roads into forex, it is safe to say that there are plenty of ‘newbie’ opportunities out there. It’s not hard to find YouTube tutorials or eBooks on the subject. Therefore, as forex continues to explode on a global basis, now is absolutely the time to start getting involved in the markets.
Of course, as with any type of trading, it is worth remembering that there will always be risk. Forex seems to carry a fair amount of this depending on the pairs you choose. Therefore, if you do want to take a closer look for yourself and to see how you get on, make sure to do a little bit of research before you start!