Are you looking to be a more sustainable investor? You are not alone. Seventy-nine percent of all American investors and 99% of millennial investors want to be more focused on eco-friendly investing.
It is easy to see why there is a lot of focus on green investing these years. The threat of climate change is graver than ever. Many countries such as the United Kingdom recently faced the hottest summer on record and signs indicate things will get even worse. Therefore, all over the world, people are working for a greener world to create a more sustainable future to avoid these crises. This is also something that forex traders can contribute to if they choose to trade with a green and eco-friendly forex trading strategy.
Sustainability is a greater concern among forex traders
One of the most popular types of trading is forex. But one of the things that aren’t very known is its sustainability. But actually, forex trading can be a green and sustainable investment if you do it in the right way with the right strategy. There are many different ways to put together a forex strategy. Dependent on the trading style that you have.
You can choose a long-term strategy which is called position trading, or a short-medium term called swing trading. The two short-term trading styles are called scalping or day trading. If you have a scalping trading style, you usually trade within seconds or minutes. It is possible to daytrade forex. Here you usually trade within a day. No matter which style you have, you can work on making your forex strategy more sustainable.
First and foremost, you should take a look at your forex trading platform. If this is not an eco-friendly platform, you should consider choosing another broker for the future. This is one of the most important things that you can do when creating an ethical forex trading strategy. There are several ways that a trading platform or broker can be eco-friendly, so check out their vision and read more about what they’re doing for the environment.
Another thing that you can do is to support nations by investing in their currency. If you support nations that are doing an effort to lower their carbon footprint and are working for a greener world, you will indirectly be supporting them by your investment in their currency. Denmark, Switzerland, Luxembourg, France, Finland, Austria and Sweden are currently the eco-friendliest countries. With the exception of Austria, these countries have their own currencies rather than the euro. You may want to invest in them.
Trading takes up a lot of equipment and power. Make sure that you choose sustainable electronics and green power. This will make a huge difference in your carbon footprint. This is especially if you trade forex a lot, you will be able to see the effect of the green solutions that you choose. Read much more on green investing options here.
Even though you are diving into a greener way of trading with an eco-friendly trading strategy, you still have to be very aware of your financial safety. Just like any other type of forex, it is very important that you keep a solid budget, and that you never begin trading more money than you can afford to lose. Trading forex is a high-risk investment, so this is something to always keep in mind – even when trying to support green nations.
The best thing to do to ensure a greener future is to combine your passion for a more eco-friendly trading strategy with a responsible approach and a clear budget. If you’re trading from home, you’ll also be lowering your carbon footprint because you no longer have to transport yourself to and from your house.