Forex is not a scam, but there are numerous scams associated with forex. Forex trading is a legitimate business that can be profitable, but can also result in extensive loss of funds. A forex scam can be failure to return money owed to traders such as when you wish to withdraw funds or terminate an account, a lack of transparency in the pricing and execution of transactions, unresponsiveness to customer complaints, and the targeting of vulnerable individuals.
Grasped the basics of forex trading, you are ready for the next step. Find out about choosing a broker, using a demo account, charting basics, and many other things that contribute to your forex foundation.
Anyone can trade and profit, educational tools to learn the basics and develop a strategy are accessible to everyone.
The currency trading market is a multi trillion dollar market where world currencies are exchanged back and forth on a daily basis.
In general, how much money you make depends on what currencies you trade, what leverage you use, and how much capital you have.
Contract for Difference or popularly known as CFD is a trading vehicle, a contract that gives the trader access to share or asset price movements without having to own the underlying shares or asset. In addition to shares, you can also trade commodities, forex, stock indices and many other markets on margin on one trading account.
Risk management is all about keeping your risk under control. The more controlled your risk is, the more flexible you can be when you need to be. Risk management is a combination of multiple ideas to control your trading risk. It can be limiting your trade lot size, hedging, trading only during certain hours or days, or knowing when to take losses.
Pay attention to these 3 points:
- Who regulates the broker
- The cost of trading
- The range of assets
