Digital Nomad: Remote Working Lifestyle of a Forex Trader

A lot of people dream of visiting multiple countries and experiencing different cultures and lifestyles. However, not everybody gets the chance to live their dream. A lot of people are held back from living their dream by two major things:

  • Inability to get enough vacation time from work
  • Inability to fund travel costs

What if we tell you there is a way to break free from these limitations? What if there is a way that lets you travel around the world while you are still working?

This is exactly what a lot of Forex or foreign exchange currencies traders do.

Remote Working Lifestyle of a Forex Trader

Why Become a Forex Trader?

The best thing about Forex trading is that you get a chance to make money without selling anything. You do not have to answer to a boss. You are your own boss. You don’t to appease demanding clients and don’t have to follow any gruelling schedules. In fact, you can trade while travelling. It gives you the flexibility to live your life while being able to fund the lifestyle of a frequent traveller. This is also a good opportunity of meeting some amazing people around the world.

Misconceptions About Remote Working Lifestyle

A lot of people think that if you are not in your office stuffed within a cubicle then you are not really working. They believe that office workspace is very crucial to make a person productive. However, the world is slowly moving towards a lifestyle where the younger generation prefers to work from anywhere that they want. They believe that they can be most productive only when they are at a place of their choice. Their productivity depends on their comfort and not their surroundings.

Another misconception that prevails is that a remote working lifestyle does not need a routine. Ask any person who works remotely and they will tell you that they do follow a routine. A lot of Forex traders who are digital nomads do follow a schedule of their own.

Forex traders who are constantly travelling are also thought to be from affluent backgrounds. People believe that they just have enough money and don’t need to do anything serious in life. However, the truth is that a lot of forex traders are people from middle class. They have learnt the tricks to trade profitably and are now essentially funding their own lifestyle.

Remote Working Lifestyle

Biggest Challenge of a Traveling Forex Trader

One of the biggest challenges that travelling forex traders face is taxation. The taxation laws have not yet comprehended this new crop of money makers who are ‘citizens of nowhere’. This causes problems of non-compliance. A good way to deal with this challenge is hiring a competent taxation attorney who can handle such issues for you.

Another challenge that a travelling Forex trader faces is finding good internet connection. Forex trading mostly depends on internet and it can be a bit difficult to find good connectivity. So you need to plan your travelling hours and trading hours accordingly.