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Does anyone actually make a living off Forex?
yes you can make a living trading the Forex market but you have to consistently do a lot of things right. Most traders simply do not yet possess the necessary trading skill, discipline, patience, or realistic attitude to succeed long-term in the markets.
What is forex and why is it a scam?
Is Forex a scam? The Forex market is a legitimate trading market where the world’s currencies are traded. The Forex market is a ‘zero-sum’ market, which means that for one trader to make a profit, another trader will need to make a loss, the Forex market does not itself add value to the market.
Is it possible to make money from Forex trading?
SOME ordinary people dabble in FX and make some money on it, maybe pay some nice holiday, shopping, etc. Making money consistently in order to live with all expenses covered is another thing. When you’re talking about “scams” we would reply: binary options, platforms that offer any form of leverage above 10x, “try for free” game-like websites, etc.
Is there any fraud in the forex market?
There have been occasional cases of fraud in the forex market, such as that of Secure Investment, which disappeared with more than $1 billion of investor funds in 2014. 6 Market manipulation of forex rates has also been rampant and has involved some of the biggest players.
What is a forex broker and how does it work?
A forex broker is a company that grants you access to a trading platform to buy and sell currencies. You will need a broker in order to do forex trading. Unfortunately, not all brokers are honest and legitimate—finding ways to take your money or inundate you with fees.
What are the risks facing forex traders today?
Losses in retail trading accounts wiped out the capital of at least three brokerages, rendering them insolvent, and took FXCM, then the largest retail forex brokerage in the United States, to the verge of bankruptcy . Unexpected one time events are not the only risk facing forex traders.