Forex- Is It A Scam?

forex

Forex- Is It A Scam?

Forex is a business option that many people are interested in. It can be confusing and difficult to understand, but you don’t have to worry about it being a scam. Forex isn’t regulated by the government so it’s not illegal for brokers to advertise scams as legitimate investments.

However, there are ways you can protect yourself from scams such as understanding how currency trading works and what things may affect your investment decisions. Avoiding A Forex Scam

Forex isn’t a scam and there are ways to protect yourself from scams. However, it’s important to understand how currency trading works before deciding whether or not you want invest in the market. You should also pay attention to what other people have said about their experiences with forex companies because this can help you make an informed decision on your investment choices.

The reader may wonder if such investments as forex are safe for them. This post will answer that question and cover some of the things that they need to do in order avoid being scammed by these brokers who advertise themselves at legitimate businesses.”

“The first thing is understanding how currency trading works so that when making decisions you know what might happen based on changes.

Forex Signal Sellers Are A Scam

The purpose of these companies is to convince you that they can predict when the market will move and so, for a fee, they’ll provide signals telling which way it’s going.

The truth is that no one has ever been able to consistently predict where the currency markets will go next. So if someone claims they offer this service – walk away!”

“Since Forex trading involves both risk and reward, your decisions should be based on how much money you’re willing to invest in order see returns.”

“It’s important not only not an individual or company with high ratings but research them before choosing who you want work with because many forex brokers have different levels of risks associated with their

 

stock trader

Manipulation of bid/ask spreads

This does happen with some not so creditable brokers.” Most USA brokers are regulated and this should not happen, But don’t think for one minute it does not.

It’s important not only to look at an individual or company with high ratings but research them before choosing who you want work with because many forex brokers have different levels of risks associated with their services. For example, some are regulated while others might be less reputable than others. ​Understand what these differences could mean for your investments. “Most USA brokers are regulated and this should not happen,”

Forex Software Can Be A Scam

At the same time, you might think only a scam would sell software. But it is not illegal for forex brokers to offer their own Forex trading system as an additional service; these systems are usually designed by professionals who specialize in this area and can be powerful tools if they’re used correctly.

Some analysts warn that forex software could also be considered somewhat of a scam because traders may use them incorrectly or wrongly manage risk with bad strategies.”​”The ignorance of FX risks comes from two sources – lack of understanding about how leverage works (not just technically but psychologically) and overconfidence.”

Stay Far Away From anyone or any company that say’s they would get you fantastic return just by a click of a mouse. Think abut it for one second, if that was the case we all would be rich.

Boiler Room Trading

Boiler rooms are the old way of scamming people. They would hire somebody to talk their ear off about investing in stocks or commodities and convince them they could make a fortune with little risk.

They were successful because many people don’t know how to trade, but even those who do might fall for these tactics if the person is convincing enough.

The fact of the matter is that most people do not do any justice to investing, and that is why these scammer style folks have been around for so long. Point in Case,

The recent Game Stop Trade everyone was talking about. Is The Perfect example of a Boiler room trade. Hell there was so much talk about it, I almost bought the stock. But, I do not trade stocks and only trade FX.

Forex Courses Are A Scam

One of the biggest business out there right now, is sell a forex course. And I have seen these folks come and go over my 16 years in this Industry. YouTube Is where all these folks go, because they know you are looking to be rich in forex in the next week.

Hint (Not Gonna Happen )

Do the work that is involved in this, just like any business out there and you can find success.

I have been trading Forex for years and there is nothing like the feeling of making a profit. It’s one thing to know how to trade, but it’s another thing entirely to be disciplined enough not to fall victim into these scams when they come along. I try my best not get caught up in chasing profits as you can easily end up losing more than what you make if your trades are too risky or large-scale market moves happen before your order executes successfully. That being said, I feel that with some practice anyone could find success day trading Forex; its just knowing what tools work best for them while also being able to read charts and levels correctly so buying low and selling high is an easy task.

Is Forex Worth It?

I’ll answer that question with a question: What’s the point of Trading Forex if it can’t go up in value?

Forex is like anything else, you just need to do your research and invest wisely. I know people who lost $200K investing without doing their homework – so don’t be naive!

But my favorite reason for trading forex is because I am an old-school trader. It reminds me of when commodities were still traded on the floor of the Chicago mercantile.

I have said it over and over in this blog, just like anything in life, you must have a passion for this industry or NO it will not be worth it to you. But I have always looked at this as I learned another skill set to have in My life.

logo grad

THE RUMPLED ONE

The rumppled one

Psychology In Trading

Psychology In TradingPsychology In Trading   If you are a Trader and do not think that Psychological games go on, then you have been Mis informed about trading. This happens all the time in trading and the truth is the brokers and wall street do not...

Organic Trading

Organic TradingOrganic Trading   I heard this phrase the other day watching YouTube, and literally laughed out loud.You younger guys always trying to put a new spin on a old horse. In my day we just called it trading naked. Now what does all this mean?...

Can Dropshipping Make As Much Money As Forex Trading?

Can Dropshipping Make As Much Money As Forex Trading?Can Drop Shipping Make As Much Money As Forex Trading?   The problem with this mind set is weather or not you can make more money drop shipping or with forex is. It's a debate that's being discussed...

Can You Get Rich By Trading Forex?

Can You Get Rich By Trading Forex?Can You Get Rich By Trading Forex?     I get this question at least ten times a month if not more, especially from those looking to trade (for profit) in the financial markets. I've been trading for about 15 years,...

How To Read A Forex Chart

How To Read A Forex Chart.How To Read A Forex Chart   One of the reasons people fail at trading they need to look back at who taught them to begin with. You see the reason 97% fail is plain and simple the information out there and that is the truth. I...

Why Do I Keep Losing Money Trading Forex?

Why Do I Keep Losing Money Trading Forex?Why Do I Keep Losing Money Trading Forex?   Why do i keep losing money trading forex is a question we hear on a weekly basis. If you have been trading for an extended period of time it's more than likely that you...

Can You Buy And Hold Currencies?

Can You Buy And Hold Currencies?Can You Buy And Hold Currencies?   Can You Buy And Hold Currencies like a stock? Does it Happen? Yes! You can buy and hold currencies the same way that you would stocks or other assets. If the currency has a $1 USD value,...

Should You Start Trading?

Should You Start Trading?Should You Start Trading? I get asked this almost weekly by folks learning about trading. "How do I get started?" "Should I start trading?" "What does it take to trade?". Anyone who is new to the trading game has questions about what...

Should You Trade Everyday?

Should You Trade Everyday?Should You Trade Everyday? If you are new to forex and wonder if you should trade everyday, The answer is no. There are benefits and drawbacks to trading every day. The markets in forex tend to range a lot. In other words, price...

Why Forex Trading Is Bad

Why Forex Trading Is BadWhy forex trading is bad, should not be the question here. The question should be, how can trading in the capital markets help you? The reasons people forex trading is bad are many and varied. The following are some of the most...
U.S. Government Required Disclaimer – Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.