Financial freedom is something we often dream of. Living in the Philippines, life can be difficult. Therefore, in this article, we shall take a deep dive into why it is a good idea for Filipinos to start a Forex Trading Business.
In fiscal year 2023-24, the IMF ( International Monetary Fund) conducted a survey in an attempt to classify the financial conditions of Filipino families. What they discovered was shocking.
IMF Classification of Filipino Families
| Classes | Avg. Monthly Income (Family of 5) | Percentage |
|---|---|---|
| Poor (Highly Vulnerable) | Less than 12,000.00 PHP | 24.8 % |
| Low-Middle (Vulnerable) | Less than or equal to 22,000.00 PHP | 44% |
| Middle Class (Uncomfortable) | Around 40,000.00 PHP | 21.8 % |
| Upper Middle (Comfortable) | Around 75,000.00 PHP | 7 % |
| Rich Class | Unlimited | 3% |
From the survey above, it’s safe to assume that you’d have to be in the upper 10% (Rich or Upper-Middle class) in order to live a comfortable life. So you see, unless you are a political family with a large inheritance, a celebrity, or have at least 2 of your family members working abroad, you are vulnerable. The question is, what is the cause of this kind of lifestyle, and how do we get out of this rut?
Yes, you can blame the politicians and the corruption, but as Zig Ziglar, one of the best motivational speakers in the world, said, “You are who you are and where you are because of what goes into your mind.”
So what goes into our minds?
Growing up in the Philippines, we learn from a very young age that in order to succeed in life, you have to:
- Study hard
- Get good grades
- Get a job
- Save your money, and
- Finally, retire on your savings.
This is what goes into our minds. We have a certain view of life and how to live it. What we don’t realize is that this model was designed by our colonizers (Spain, Japan, the US).
They wanted a slavish population that would do their bidding for meager rewards. I don’t want to go historical, but if you look at our education system, that’s exactly what it does. It trains people for a particular job, and once you have graduated, you behave just like “another brick in the wall”.
You get up, and you go to work. You get a certain amount of salary, which is barely enough. And if you want more money and success, what do they teach us? “You have to work harder”, so you do and probably get a promotion and a pay raise, but by that time, your expenses have also increased. You were single before, and now you are married and have a child.
So you see, you will never break out of this life the way our former masters taught us. No schools teach us about independence and financial freedom, or how you can take control of your own life and live boss-free, or how you can determine your own work hours.
But things are looking better as Filipinos are now dominating the “make Money online” or “work from home market”.
The Following are a few ways to make money online from home:
Online Freelance Jobs:
Job sites like Freelancer, Upwork, or Fiverr post a lot of projects online where employers are looking for people with different qualifications to complete certain projects. Filipinos are dominating those markets because they are skilled, and most Filipinos read, write, and speak English well.
The Jobs range from blog writing, web development, SEO, graphic design, video editing, software development, and so on. You will need some technical knowledge to succeed in this.
Virtual Assistant Jobs (VA):
This is another interesting job. Many offices in the US offer this. The boss is in the US, and a secretary does all the assistant jobs from a remote location. A lot of Filipinos do this job as well.
It’s noteworthy that Virtual Assistant jobs are replacing the traditional Call Center jobs.
Online Teaching (ELS):
This demand is mainly from countries like Japan, Korea, and China. Students there struggle with their English. They want to find an English-speaking teacher with whom they can have a conversation and fix their mistakes if they make any. Classes usually last for 20-30 minutes.
Online ELS (English as a Second Language) classes usually happen via Skype or Zoom.
Advantages of Online Jobs
- You can work from home. All you need is an internet connection.
- Salary/ Pay is okay.
- You can do them part-time (a few)
- You can work at your own time (a few)
Disadvantages of Online Jobs
- If you are a freelancer, you have to compete with other freelancers. On sites like Upwork, you have to bid lower than the others in order to get the project, which means the income is not that high.
- With the exception of a few, most jobs are time-sensitive. Freelancers have to finish their projects in time, Virtual Assistants will have to be online when the office in the USA starts, and online teachers will also have to be live on time to meet the students.
- If you have any problem with the internet or electricity, you are in trouble.
- Only a few jobs can be done part-time. Most jobs are full-time and will require all your energy and effort.
- There are lots of frauds and scammers who will make you do the job, and not pay after you have already submitted your work. And since the job poster is located in a different country, you can not find them.
You will need some qualifications. You will need to be an IT to do the technical jobs, good at English to do the teaching jobs, a fast typist to do the VA jobs, etc.
Why Forex Trading is a Better Online Money Maker?
Because all of the “work From Home” jobs above are still jobs. Forex Trading is an independent online business. You do not have a boss, you do not have to be on time, and you do not have to submit your work and wait to get paid. No one can scam you either. While online jobs offer a “Safe Route” and a salary, Forex Trading offers something bigger, “Freedom”.
Advantages of Forex Trading
- You do not have a boss.
- You are free to invest as much or as little as you like.
- Although there are recommended times for trades, you are free to do it any time you want.
- You can do it part-time or full-time.
- You do not need any qualifications. You just need to learn some basics.
- Forex Trading is the gateway to other types of trading as well. You learn this first, and you can also enter Stock Market Trading, Cryptocurrency Trading, and Precious Metal Trading
Disadvantages of Forex Trading
While all seems good, nothing is perfect. However, you will be glad to know that for all the disadvantages, there are remedies to mitigate them. The following are the disadvantages:
- Risk of loss: There is training and education for that.
- Not Knowing the Terms (Vocabulary): There is training and education for that.
- Not Understanding the Charts: There is training and education for that.
- Not Understanding Market Trends and Sentiment: There is training and education for that.
As you can see, training and education fix all the problems, and Currency Biz is there to give you just that. Download our free E-Book, and begin your journey.
How Forex Trading Helps an Average Filipino
Let’s start from the basic premises. We cannot succeed by following the norm. In order to get out, we need something different. You cannot just work 8 hours a day and earn a salary. You need to make your small earnings grow and grow exponentially.
Therefore, the so-called “Safe Route” is not a very good option. The only way you can make your money grow is if you can invest your money wisely and trade your investment for profit.
Additionally, when you think about investing, the first thing that comes to mind is the Stocks Market, and you are right. Stocks are a great investment opportunity (We also teach stock trading, by the way, to advanced traders). Yet stocks require a larger capital and longer time. If you have a million to spare and can wait 3-5 years, Stocks are great.
But if you don’t have a million, which I’m guessing you don’t, Forex Trading is the only way to start. You can start with 3,000 Pesos and trade daily (no need to wait 3-5 years). You can literally see your money grow exponentially.
Will There Be Some Loss?
Sure, there will be. No one is perfect, nor can they predict the perfect opportunity to trade. Yet, if you are a beginner, you should not immediately start trading. The first thing you should do is learn. That’s where we come in. We are here to teach.
The second thing you should do is try demo trading for at least 2 weeks. There are many demo tools, and we can point you towards them. You will learn to do mock trades without using any real money.
Thirdly, once you are confident, you can start real trades on real platforms. We’ll show those also.
How Does My Money Grow Doing Forex Trading?
Your money grows exponentially. Say you keep 5,000 Pesos in a savings account and do not withdraw for a year. Do you know the standard interest rate in the Philippines after a year? It’s 0.0625%. That means your savings will make 3.125 pesos. You shall have a total of 5003.13 Pesos.
Now imagine this situation: You trade Forex for 1 hour a day and earn only 1%. Your 5,000 will earn 50 pesos, and now your total is 5,050 Pesos. You reinvest (5,050) and make another 1% the next day, and you earn 50.50 Pesos, so you have 5,100.50 Pesos. This doesn’t look much. But after a year (1 hour a day, 5 days a week, and 52 weeks a year), your total money becomes 66,400.54 Pesos.
Now, let’s say you lose 10,000.00 Pesos during your trades. You still have 56,400.54 Pesos. You worked only 1 hour a day and 5 days a week. As time goes by, and you are more confident, you can invest more time and money and watch your money grow.
The Takeaway
It’s time to take control of your future and get ahead in life. Have the financial freedom you have always dreamed of and make your life worthwhile.
Yes, there will be some risks on the way, but Forex Trading will be the best decision you will ever make as an average Filipino.
Join us to learn more.