3 myths not to believe of you are thinking buying forex online

3 myths not to believe of you are thinking buying forex online.

Online forex portals have only just sprung up,

therefore they are still not everyone’s go to option.
And though these portals offer several benefits that

traditional forex services don’t, there are still

several people who cannot find it in them to trust
these portals owing to certain myths and miss
conceptions regarding them.

This article will try to clear the air by debunking some of these
common myths, so read on!

1. Myth number one is that it’s not safe to buy forex online.

Most forex transactions involve large amount of money, and so many people

feel more comfortable transacting with someone real, someone they can they
shake hands with and some who can reassure them that their transaction will be

taken care off.

In the case of online forex portals, this someone is the RBI! This is because, as

long as you choose and RBI authorized portal, you can rest assured that your
money is in safe hands. If you want to be overly sure, you can opt for a portal

operated by a banking name you trust.

2. The second myth is that it’s confusing to buy forex online.

Some people feel that buying forex online is a complicated and confusing

process. However, this is not true! The internet is here to make things easier and
this exactly what it has done for millions of people looking for foreign exchange

solutions.

All you have to do is sign-up with one of the many forex portals which is as easy as

creating an email address. After your account has been verified, you can buy
foreign currency or send money abroad with just a few click on your

mouse and a couple of taps on your keyboard.

In comparison with traditional methods, there is no running around, any
standing in line, no counter-hopping to compare rates, etc. Making online

forex portals much more convenient than older methods of foreign
exchange as you can carry out your entire transaction from the comfort of

your home!

3. Lastly; it’s expensive to buy forex online:

This myth is really the opposite of the reality. This is because most online forex
portals provide you exchange rates that are very close to intra-bank exchange

rates. And unlike traditional forex vendors, most online forex portals do not

have marked-up rates.

Further, more online forex portals have extremely low commission charges.
Some portals will charge you as less as 0.015% on large transactions. And some

portals even have festive discounts that combines with good rates and low
commissions, help you save loads of money every time you exchange or send

money!

These were some of the most common myths that have clouded the air

around online forex portals. We hope this article has done enough to clear your
doubts and restore you faith in online forex portals. Remember, just like most
things the internet has embraces, an amalgamation of the internet and forex

services is only making this easier for you. So the next you need to buy forex,

don’t hesitate to buy forex online!

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