Is trading the new side hustle? – ForexLive – ForexLive

Trading has changed since the pandemic

FXL
As the
global pandemic halted our lives, many people fell into the pit of being
laid-off. The interesting factor is what people did to overcome these
challenges and progress forward.

Out of adversity
comes opportunity. – Benjamin Franklin

While it
is statistically proven that the fresh generation is becoming more financially
literate, both the young and hungry Gen Z and Gen X’ers have taken the
opportunity during these telling times to explore the market as a “side
hustle”. With the US specifically receiving various rounds of helicopter money
to citizens making less than 75K, a large portion of the stimulus fund was
indeed invested back into the markets.

Younger
generations have found solace in side-hustles, freelancing, or entrepreneurial
ventures after being consumed in mountains of university debt. These educated
minds have sought out independent education on
financial matters to explore the option of trading. From day-trading with an
aggressive strategy, to simply getting acclimated and forming a more passive
trading strategy, more and more people are resorting to the markets and
investing to possibly yield a quick dollar or two. More specifically, individual
investors jumped 14.9% in 2020 alone.

A crucial
point people take into consideration when beginning a new side-hustle are the
initial costs. Are there high barriers
because of an exceeding cost or not? Trading with IGM FX requires low barriers to entry because of
the little to no capital upon initial investment. Furthermore, in any
investment the investor chooses exactly what they want to invest and has full
control, whereas another side hustle possibly involves extra start-up costs.

Another
great positive to investing as a side-hustle is that the investor has freedom
to choose what time he or she wishes to devote, whether on a daily, weekly, or
monthly basis. With easy-to-use features and unlimited analysis tools such as
stop-loss orders, or limit-buys, the potential for sitting back and relaxing is
certainly there. In addition to these great features, the FX market is open 24/5 round-the-clock; this means
that the transition from your regularly scheduled working hours, to trading
could be seamless. Flexible trading hours in the market are the perfect aid
when looking to add to your busy calendar of Zoom meetings and virtual calls.

Lastly,
when exploring trading as a side-hustle, it is vital to find the perfect
platform that provides a synergy of education, resources, and sophisticated
trading analysis for your convenience. Many platforms offer this at different
levels, so be sure to evaluate the brokerage’s offerings in full and extra
features could be game-changing.

Although
trading can potentially yield extra returns and benefits, it is important to
acknowledge the main factor of risk. Investing is never a guaranteed solution,
but with careful calculations, education, and continual analysis trading can
potentially transform into a great side hustle reaping rewards.

Some of
the most impactful success stories or innovations rise when one is faced with
adversity. Is it your time to rise above and challenge yourself in the markets today?

This article was written and submitted by IGM FX.

Risk
warning: CFDs are complex instruments and come with a high risk of losing money
rapidly due to leverage. 74-89% of retail investor accounts lose money when
trading CFDs. You should consider whether you understand how CFDs work and
whether you can afford to take the high risk of losing your money.

Disclaimer: This material is considered a marketing
communication and does not contain, and should not be construed as containing
investing advice or a recommendation, or an offer of or solicitation for any
transactions in financial instruments or a guarantee or a prediction of future
performance. Past performance is not a guarantee of or prediction of future
performance.
Invest in yourself. See our forex education hub.

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