CanoeMussy posted: Thank you for this thread. I am so glad that I gave in to my friend’s pushes and opened a forex trading account. It has been precisely 5 months of trading in total for me, including 20 days of demo, and I have made more money than I did in a year of doing stupid jobs. I was spending more to keep myself entertained earlier than I was saving. And now all the money I earn while trading currencies on Fxview just go into savings. I know about the risks involved but if you are careful with your trades and have a well defined plan, there's only going to be gain.
Good on you mate! I am rather surprised that you started on such a high note!
@Bladiminmunro@Scarymaniak I am not saying that I have only been profiting. There have been losses also but overall there is a gain. And I am comparing this to the measly wage I was drawing with my job is all folks. Take a break!
Regulations does matter, but there's another crucial thing. I mean how hard can it be to get a piece of stamped paper! I think it’s also important to look into the history of the broker. See the number of transactions undertaken, the founders history, things like that.
colininghrams posted: Regulations does matter, but there's another crucial thing. I mean how hard can it be to get a piece of stamped paper! I think it’s also important to look into the history of the broker. See the number of transactions undertaken, the founders history, things like that.
Both are necessary! History and regulations! Otherwise how much can a history also tell. Who knows future intentions!
Just stick to regulated brokers, play safe. As it is trading is so risky, markets are an unknown sphere. Some peace of mind with regulated ones won’t do any harm if no good. I have dealt in the past with scams so I can tell you from experience that brokers that have a record to show are better. Now I am using XTB and Fxview but in the past brewed a lot of trouble for myself with names known only to me.
Pointingmark posted: Frankly, I don’t know the name Fxview, should I be scared for you?
Thanks for your concern but I am good. I have been using them for over a year now almost completing 2 years with them, and if there was any reason to be scared of, I suppose by now it would have revealed itself to me. I am absolutely satisfied with both.
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.
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