Of course not. The forex market is real and legit. The online forex market has been existing for a very long time. The reason why some people have this misconception that the forex market is a scam is because they failed in earning profits. The reason is not whether the market is legit or not but insufficient knowledge of a trader.
Hotfoote posted: Forex isn’t a scam, a lot of failed traders just call it that because they’re bad at it and didn’t make any money/the money they wanted to.
I agree, most are not happy it wasn't a get rick quick scheme and they are bitter they couldn't make it so they tell others it cant be done. Best to just follow what your eyes tell you and don't be discourages by all the neigh sayers
Forex is not a scam. Scam is essentially found among brokers who provide imaginary services. Sometimes it happens that you send money, but you will never see it back. Therefore, you need to choose a broker that has been in existence for at least 5 years.
Forex cannot be scam but a broker can. In all ways, a scam broker is harmful for a trader so traders should be careful about this. A scam broker is never supportive to traders so it should be avoided. There are different types of scam brokers available in the market and we should keep ourselves apart from them.
Questioning the market’s existence is a genuine thought. To someone who is not much aware of the financial markets, the forex market’s existence may come as a surprise.
Yes, the forex market is real and it is not a scam. From central banks, financial institutions, retail traders, to big MNCs, both small and big bodies take part in the exchange of currencies. But trading is not easy. You need beforehand knowledge and it is not easy because of scammers ( who make the market look like a scam). From courses, signal providers, to other educational content suppliers, scammers will sugarcoat and sell anything to you, which makes trading too risky.
Of course not, forex is not a scam. I have been trading for the past 2 years in forex and I can’t think of a single instance where I can blame forex for being a scam. You just need a well trusted and reliable broker who can make your forex trading experience smooth.
That’s exactly what reality looks like. Those who set unrealistic expectations will obviously have to take unexpected losses. The market becomes their easy target to blame. But if you are ready to find reasons behind your losses and improve the way you trade, success won’t be a far cry.
Forex trading is not a scam. There are numerous opportunities to financially benefit from it. Not only traders but other big firms or institutions trade forex including big investment banks and central banks which represent the governments.
Forex is not a scam but there are many scams in forex. With the rising number of people taking interest in forex trading, scams have no dearth of traders who would like to make use of an easy way to make money. It comes up to the traders to be careful about the services they take.
Every person is capable of doing a different set of things and so, we can’t expect all of them to be great at trading forex. Just because someone doesn’t understand forex, it doesn’t mean that the whole concept of forex trading is a lie. You must first find out if you are capable of doing it or not.
Every time when I hear that forex is a scam, it’s coming from the traders who didn’t try much and have the whole process to blame for their losses. It’s just one thing that must be kept in mind that forex trading doesn’t serve free money; you have to work for it.
Just because some traders’ tactics didn’t work in the forex market, it doesn’t mean that the market is not legit. They lost because they failed to adapt to the changing market conditions. If they had taken trading seriously and worked on their trading strategy, they would have not been calling it a scam.
UweMoench posted: Forex is not scam. Some people who have failed in trading used to say that forex is a scam. They think, I didn't make it so no one can make it. But yes, there are brokers that are scam. Do not listen people who say like this. And most importantly you can google it.
The way a trader usually manages his risk is known as risk management policy. What are the ways? - is a question. Different traders have different ways like some reduces lot size and trade in low spread-consuming pairs. Some avoid trading during any news occurs and these all are taken as risk management policy.
Risk management, meaning using low leverage, narrow trading spread and other approached that lower trading risk, and money management should be the part of one’s trading as it helps in bringing out profits on an average. The target of every risk management strategy is to save traders from sudden market crashes.
Forex is the world's largest financial market and no scam can be this big. Daily $6 trillion transactions are no joke. So, if you really want to do something in your trading career, take it seriously and make the most of the time you have.
It is not a scam. You need to understand the market before you enter. Blindly starting something will only feed in your downfall. Fx trading is a great way to make money if you know how to manage risk. Many individuals who have lost, think it’s a scam because they were. Not prepared for the tense situations.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.