The following article is the answer to some inquiries of our readers. They want to know more about FOREX, particularly some tips to trade from the Philippines.
Forex stands for Foreign Exchange, which means to trade currencies globally. There are different ways when you are trading Forex. The most common are:
To trade directly at the counter. This is trading Forex the old fashion. You need to make bank transactions or take advantage of a money exchange agent. There are pawn shops locally in the Philippines that may help you with Forex. You may also use services like:
- Money Gram
- Western Union
To Trade Online. Use one of the many online platforms to trade Forex. With online trading, you are never going to have the actual money in your hands. Everything is going to be on your dashboard. You can take advantage of other online trades like:
Tips to trade Forex from the Philippines
To trade directly at the counter. Beware of the rates for exchange foreign currencies because they will benefit the bank only. It is best to use Money Gram or the Western Union. It is advisable to make transactions of at least 600 dollars. A pawnshop is the best, but you must look for a reliable one.
To Trade Online. Learn about technical analysis for trading. You have to be up to date with global news and check your platform along with other tools. It is open at any time of the day, Monday to Saturday. Find a reliable platform and get trained first before you start trading.