Why don't I trade Forex? Because I can trade currency futures on a centralized exchange with narrow bid/ask spreads. What are the advantages of Forex over Futures?
The only person who makes money in ForEx is Soros, and that's with insider info advantage. These markets are for hedging purposes.
some other futures to consider are micro gold micro oil micro copper micro ES micro NQ ... from CME exchange There are micro currencies (EUR, GBP, JPY, AUD) but the volume is very lousy
Unfortunately, ByBit is one of the biggest Centralized Exchange for crypto perpetual futures, lots of youtube/influencers are shilling their affiliate links, they make 5 and 6 figures, maybe even more I've only used Huobi for CeX perp futures a while ago, I only use DeX (decentralized exchange) for perpetual futures trading now But to use a DeX, a trader would need to utilize native crypto assets and blockchain transactions, maybe too much for ET, which is why I posted ByBit instead
Doesn't Bybit have some kind of Dex available? I think they call it Web3 or something. This came to my attention when they started doing KYC and I was disqualified from the central exchange, but was still offered access to the distributed exchange. When that happened I made a deal with someone in another country to open an account, and give me access for 10% of any monthly profit. Haven't yet begun trading though until my automation program is finished. If not Bybit, what DeX have you been using? I would think the main thing is that there be enough other traders or market makers to keep the spread narrow.
That's not a small amount when you consider that BTC can be divisible down to Satoshis in places like Binance and Bybit in their spot markets. In their futures markets they have a minimum size which, if I recall is less than $100 but more than $40. So long as the spread is narrow enough you're good to go. Bybit, already number two in its class with Binance, has apparently picked up some market share since CZ's problems with the bully overreaching SEC liars. If the SEC decides to bully Bybit, there are other similar class exchanges waiting in the wings to step up. Bybit, like Binance, is popular enough, and exposed enough that they have decided to do KYC for Americans and Canadians, but the next in line of the same class, have yet to do KYC. These exchanges have a more opaque ownership and probably won't start KYC until/unless Bybit becomes the next target of the lying SEC political animals.