The following article was sponsored by FDT ForexMaster
Let’s rewind back to the fall of 2011. In public spaces (especially left-leaning cities like New York and Vancouver) a motley crew of professional protesters gathered to outcry against the “evils” of capitalism and the resulting perceived inequality that it causes.
But there was one vital thing that was missing from this group: financial literacy. While it’s tough to disagree that banks were engaging in some risky behaviour pre-2008, from an educated perspective it would be intellectually irresponsible to see this as an indictment of capitalism entirely.
The beauty of financial literacy is being able to understand the complexities of capitalism and finance. At its core, capitalism works. It allows for success without discrimination, whether your name is Bruce or Caitlyn, Darnell or Xiao Wang. The deeper your understanding of finance, the more doors open for different avenues of success.
Here are three tips to keep in mind when investing:
1. Look where others aren’t
Ironically, the largest and most liquid financial market is also the least well-known. Most Occupiers wouldn’t be able to tell you about the foreign exchange market, which involves the trading of currencies shifting in value against one another. The forex market dwarfs the stock market in size and speed, as it trades $4 trillion a day and is open 24 hours a day during the workweek.
The forex market is how currencies derive their value. Investors buy and sell currencies based on technical data, or their assessment of a country’s political and economic well-being. It’s capitalism in its purest form and for the most part it’s a market free of manipulation.
2. Educate yourself
Understanding the forex market is key to understanding finance and capitalism as a whole. After all, money is everything — it forms the basis for every other market out there. Without money — or currencies, which form the entire foundation of the forex market — there would be no international trade, no stocks, and no markets at all.
But trading forex is fast and furious. The market moves quickly and there are no breaks. Professional traders say that those looking to get into trading forex should do so slowly, as the possibility of losing your entire principle is very real. You simply can’t afford to be a risky or foolish trader.
3. Jump in
A great way to learn how to trade forex is through an app called “ForexMaster.”
ForexMaster, which costs nothing to use and is risk-free, allows users to practice trading forex and compete against others from around the world for real cash in real time.
Anyone that proves themselves to be a consistently profitable trader has the chance to participate in FDT’s incubator program, where they will have the opportunity to receive seed capital to manage a real, funded trading account. As users progress through the incubator program they will have more and more responsibility as a trader—and take home a bigger and bigger cut of their earnings. It’s the light at the end of the tunnel for those that prove themselves as traders.
FDT Incubator gives you one of the most red pill opportunities of all: financial self-reliance. Some of ForexMaster’s top users don’t come from traditional finance backgrounds, but still have thrived in the trading space.
Or maybe you’d prefer to hold hands and sing songs in the park. Your choice.
Download FDT ForexMaster and start your forex trading career today.