Forex trading is one of the most popular outlets for investors around the globe. However, it’s not the only way to grow your capital and it’s important to consider some of the other markets out there.
After all, Forex trading does pose some risks. Therefore, it’s vital that you look to diversify your portfolio. Here are six of the best options to consider.
1- Cryptocurrency
If you’re already familiar with FX trading, the transition to crypto should be easy. The ongoing court cases involving Ripple could make XRP the hottest digital token. It has the potential for huge growth over the coming months. However, there are thousands of altcoins on the market. If you were to unearth the next Bitcoin, it could transform your future.
The liquidity of crypto is another reason to keep it in your portfolio.
2- High-Yield Savings Accounts
Some experts would suggest that savings accounts are a waste of time as other investments may bring higher ROIs. In reality, though, it’s never a bad idea to have a guaranteed source of capital growth. The fact that you can quickly access your funds is another incentive for keeping some capital tied up in this instrument.
An online search will soon highlight which account will deliver the best growth.
3- Real Estate
History has taught us that real estate is one of the most stable assets because its value will outgrow inflation. Meanwhile, a clear property investment strategy can produce an ongoing revenue stream. This is in addition to savings for the future. Better still, it is a versatile landscape that can be approached in many ways.
Multi-unit investments, joint investments, and short-term rentals are all great examples.
4- Side Hustles
In addition to real estate, you could consider backing yourself with a side hustle. Working on something you love will give you the opportunity to boost your capital in an enjoyable way. Besides, your passion will shine through to maximize your hopes of success. This rings true whether you’re writing a book, providing music lessons, or selling baked goods.
Even if you only earn a small revenue stream, it’s a wise investment of time and money.
5- Corporate Bonds
When organizations need to raise funds, bonds are an option they will often take. As an investor, this gives you an opportunity to back the company by buying corporate bonds. In return, you will gain a revenue stream through payments made by the company to bondholders. If you back a business that performs well, it can lead to big returns.
The maturity on this type of investment is usually under five years too.
6- Stocks
FX trading will have given you the tools needed to understand the stock market. Whether you look at day trading or long-term holdings is a personal matter. Either way, your knowledge of trends and commodities listed on the stock market can lead you to success. Alternatively, you could look to hold physical assets like jewellery collections.
Even if the Forex is your main focal point, a varied portfolio will serve you well.
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