Currency Exchange has become very popular in Singapore. More and more people are getting involved in trading online. In this article we will talk about Forex as a source of income and how much you can earn in the Currency Exchange market.
Forex market gives us a great opportunity to profit on trading currencies online. Though it involves high risks, it can bring very high profits as well.
There are few ways to earn in Singapore Currency Exchange Market:
Trading Currencies Online
The most popular way to profit from Forex currency trading is trading by yourself. Means that you need to buy a currency and then sell it with a purpose to earn on the price difference. For example you buy EUR cheap and sell it when its price goes up.
Investing is a passive way to earn on the Currency Exchange market. By investing, you are letting a professional trader manage your funds make you profits by trading for you.
Usually these professional traders are taking a certain fee for their services. It can be a fixed fee or a percentage of your funds/profits.
There are many professional Forex traders in the Singapore Currency Exhange market. Make sure that you check the traders very carefully before you trust them your funds.
How much can you earn in the Forex currency exchange market?
As mentioned above, there are 2 main ways to earn in the Forex market. But it is very hard to say the exact amounts. Not because it is a secret but mainly because it depends how you are going to trade, how much you will deposit, and hundreds of other factors.
It is much easier to show you an example in the percentage. Let’s say you have a Forex trading account with $100. You can trade with this money and finish a day with a total $120. Means that you have earned 20%. A total of $20 profit isn’t a big amount for a Singapore Forex trader, but think if your initial deposit was $100,000 and 20% profit would be $20,000! This is much better, right?
Some Forex Singapore traders make 300-400% in a matter of days. It is not so difficult, but there is a big risk too. The best way is to be patient and wait for a good situation in the market.
On the other hand if you are not willing to trade or don’t know how to do it, you can let those successful traders to trade with your funds. What can be better than letting other professional trader to trade for you.
Let’s say if a trader X makes 300% a year, it could be a good opportunity to let him manage your trading account. And if you have $10,000 in your account, he will make 300% profit for you too. That is total $30,000!
If you wish to try making money in Forex currency exchange market, you can go ahead and open a free demo account where you can practice before depositing your real money.