The coronavirus pandemic led to an unprecedented drop in the price of oil. At some point during trading, it fell to minus $40 per barrel. This was due to investors’ concerns about overcrowded oil storage facilities in the face of record-low global demand.
Oil prices were under intense pressure in recent weeks and continued to decline even after OPEC+ countries agreed to reduce oil production by 9.7 million barrels per day.
Oil price crash led some Iranian investors to try Forex trading. And it is not surprising because Forex has numerous traits that are beneficial for investors. Most Iranians are looking for the best international Forex broker 2020 because they think it is very hard to conduct trading without the help of an intermediary, so this is the moment where brokers come in handy.
Meanwhile, Saudi Arabia made it clear that it could begin to reduce oil production ahead of schedule. It is possible that it will be followed by other OPEC member countries, writes the American newspaper Wall Street Journal.
Countries that are heavily reliant on oil, for instance, Russia, as well as, the USA have seen difficulties in their countries. During the oil price crash, Iranian investors were forced to seek other alternatives, and in this article, we will talk about these alternatives.
Switching to FX trading for a living
First of all, in Forex, there is no need for special education and Iranian investors find it too attractive. In order to start trading or investing your money in Forex, you do not need any special education or diploma. Today, on the Internet, there are lots of articles, video tutorials, and books that provide comprehensive information about Internet trading.
Also, they do not need to organize a specific schedule. You can engage in Forex trading when your schedule allows you. Internet trading is available day, morning, and night. Simply, you need to choose the most convenient time for yourself, when nothing will distract you from this activity. It is worth noting that you can work in the financial market anywhere, most importantly, have a tablet, laptop or computer and good Internet access nearby.
Furthermore, for Iranian investors, it is a way to earn more money. One of the most heart-warming virtues of Forex trading is profitability. You can earn on trading, and the main thing is to study this area well. With competent work, the risks of loss of funds are minimal.
Switch to stocks from top Forex brokers
Amid the declining prices of oil, stocks have also become alluring for Iranians. Even though it requires a comprehensive analysis, good knowledge of the market, still it is a very popular activity among Iranians.
If we compare it to Forex trading stocks could be perceived as a more popular investment. During the coronavirus, stocks were changing rapidly, and a lot of people managed to make a fortune. And Iranian investors were one of them as well.
Gold trading with FX brokers and otherwise
Of all the trading tools that are available on the Forex market, traders often use gold for investment and, as a rule, to diversify risks. Iranian investors are not exceptions in this regard. Gold has always been considered a safe haven. In times of political and economic crises, or in times of uncertainty in the markets, investors acquire this asset in order to at least save, and to earn as much as possible, by selling metal after the situation stabilizes.
Gold is a volatile instrument when trading it is necessary to take into account a large number of factors, both technical and fundamental.
Most likely, economic instability in the world will only grow, which means that traders will invest in large precious metals as an asset-refuge. And now, perhaps, is the right time to buy gold. Iranian investors definitely took into account the current trend, and because of that, gold has also been very popular.