Is Forex Trading a Scam? http://www.financial-spread-betting.com/forex/forex-trading.html PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE! I sometimes get such comments on this channel telling me that forex is a scam and no one can make money trading fx. We have this thing out there; forex, fx, foreign exchange trading, currency trading but is it a legitimate way to make money? You have lone individuals out there, institutions, hedge funds, money managers, banks, big companies and governments and they are trading forex with some hedging their currency exposure. A company might sell goods in the US$ but they pay salaries in Pounds so they would want to neutralize the currency exposure. So you have parties that are dealing to hedge their positions but you also have market speculators out there.
On the other side of the coin we have the horrible looking, make billions in a minute dream (make money quickly)... and that is all edging on the scammy part of the industry. You are not going to make a million in a week! Trading is hard. Yes, there is money to be made and there are private traders and hedge funds making money out there but it takes plenty of effort and work
How Society Programs Bad Traders: Losing Money, Being Wrong 😶
Is Forex Trading A Scam? 🙄
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Is Forex Trading Profitable? Myths and Reality! 😶😎
To start trading isn't for everyone. It is definitely not an easy way to make money. Perhaps start by opening a demo account with a broker to familiarise yourself with the trading platform and add some stocks/markets to your watchlist to follow. And I wouldn't start by trading forex - yes, fx is pushed by a lot of brokers/educators but the market movements can be complex. If I were starting out I would start by following a number of stocks I'm familiar with and check their stock price regularly to see how they move and how the stock price responds to newsflow and market events.
Forex trading is a scam! You are trading against the Forex brokers and eventually you loose, because they can control the data. The MT4 brokers have a data control unit which enables them to add "spikes" to the data in order to kill the stop loss orders.
You can however trade currencies in the futures market exchange, which is regulated and traded with real data.
Ive been trading forex and watching videos for 3 years and i have never yet seen a single video or a guru on internet who says you can make millions in a short peroid of time but i have seen tons of hundreds of videos of people talking about "there are people who are scammers and tell you you can get rich quick". thats so disgusting for me after these years that i could not yet find a single scammer in the internet. please someone show me a scam who says " you can make millions of dollars quickly in forex". Ironically I believe that the real scammers are those who make these kind of videos to waste your time
Thanks for your opinion. We answered this question as it was something people here on youtube asked us to answer. You want someone who tells you, you can get rich quick trading forex? Simple. Search for fx millionaire lifestyle on youtube 😉
This video is also serving the purpose of people asking us about certain brokers to check - it is sad that some still consider to trade with certain brokers that are outright scams and totally unregulated.
There are forex companies operating in Europe known as forex criminals they use false names its a big money making racket l had a feeling after l read the reviews there is no honest biasness in
this day and age .these people who say forex is good they must have been paid by forex to give us bull and cart stories .When its pay the bastards refuse to pay ,come out with all sorts of lies ,they put the phone down on me ,there is an Israeli firm that will get these bastards to court they will cerium size their foreskin once you give them the green light ,They sound good to me l hope they can get my money back into my band so l can get my life on track again ,don't trust these forex broker they will take for a ride till they have squeezed like a lemon ,they will leave you penny less they operations are in Estonia, Romania, London ,Saintsbury's bank told about them .Bank of Scotland will not entertain these cowboys without licence .Its a scam they l believe use Dubai to invest the loot worlds biggest money laundry city my friend lost £40,000 another lost £250,000,a customer of Saintsbury's bank lost 50,000 l my self got conned by these multi media company let's give them what's coming their way the to watch out is Warren maclins he knows how to clean all right they are asking me to deposit £9,000 to recover the money back on these cowboys from hell l have notified all my banks some of the banks know about the scam still they are only interested in their money back l so be it but GOD is going to put an end to all corruption ,imam Hussain the grandson sacrificed his life for fair justice stand up for your rights .
If it has no level II, its a scam for retail traders .I'm sorry but banks trade off level 2 why don't retail forex traders have access to the same level 2 the banks use. This is why stocks have a greater chance of success. Without level 2 you don't know were the buyers and sellers are. Thus, you are trading blind. I have never met a millionaire retail forex trader that can show broker statements. Yet there's are a few retail stock trading millionaires or those close to a million.
Hello, CAN SOMEONE HELP ME?
I have been investing with a manager who suposedly works in Bitclub.io , I invested 100€ with her, I paid more 100€ for the government taxes, I paid 100€ more for the upgrade of the app and now she is requiring 100€ more for the withdrawal transaction...is it legit or correct? someone knows please?
I traded 50€ with Zeegos FX also, and suposedly I have a profit of 2500 in a week but thats no possible I think..they are demanding me to pay 200€ for the upgrade before taking the profits..
I think another thing people call it a scam is because they fail to take the time to look at the economic calender, important news events, and all these important intel that a forex trader needs to take into account before trading. I lost monet, but I also made alot of it. Forex is a way to expand disposable income, not a get rich scheme. The people who are succesful are those who manage their money conservatively. I go weeks before I make one trade, if my conditions are met, great, if not, oh well. it is not a scam, people just need to learn and take the time to research. it takes time to be successful, in anything.
So I'll go out on a limb here and assume Fxglory is also a scam company based off of everything I read about them. My friend recently got into forex trading and has been ranting about that company non stop for the past week and it's making me concerned for them being played the fool as well as trying to get me into it. While this all has peaked my interest in forex I would rather go with a broker that won't try to screw me without lube or a condom. Though they do offer an interesting service where they supposedly (I say supposedly because I've not made an account with them and this is purely based off of what my friend has told me) they let you trade with "monopoly" money, meaning you don't actually invest in money and you're not making real trades though it does supposedly use the live charts as they are coming out so that you can feel confident in your ability before you take the financial plunge. Are there any other services out there that offer a similar service?
meny forex company let you trade a few mounts take the profit after that they send reroute to you ask you to update the platform then you will never never profit how ever you are good trading. many Forex broker do like these.
can someone here experience in forex help me. Ive been paper trading forex on the TD ameritrade platform with a very specific strategy and making profit is this just possible with paper trading account?
If gambling is not considered a SCAM, well i don't know what is a SCAM. For sure who sell lessons is a Scammer, cause the percentage is so low, and they never talk about real eranings/effort/loss. Lottery tells you the probability. Theres no scientific data or indicator about floating currency, worst if the market is involved, like in the UE.
It’s not a scam because you can make money. I’ve been in forex for a year now. I’ve made some and lost some.
However mostly when I lost I made mistakes such as risking too much or ignoring key warning because the trade was against me. It’s a lot about self discipline and being calm. Not trading big because you want a fat stack in a week. It’s about developing your own strategy that works for you and your priorities in life. It takes time and patience.
You need to accept a loss will come and no one is free from it. But you need to create a system where you are winning more always than losing. And I am afraid no body will tell you this when they do find out. So most of the videos are useless but use them to find out what different indicators do and how price reacts to news etc.
+duio I understand what you mean man but just think about casinos for a minute. Most people in there are just gambling away their money, however if you look at the top tables with the most money, its always the same few people EVERY time. This is because they've spent years mastering strategies and techniques, the same applies to forex. Yes, a lot of people (most in fact) do lose more than they win but I bet they have spent no way near enough time learning the ins and the out. Its not a scam, it just take fucking ages to learn and even then, you wont always win.
There are no scientific strategy for win anything, only luck, i know many people that have only lost money. Don't get scammed dude, i know many people play it, but even many people play in casino and lose money, only luck is involved. You can try to risk when something real big happen to a currency (like every 5-15 years maybe), nothing else, but the loss will be bigger if get the wrong direction for that time.
+FastLaggsFTWWW Millennium FX are located in the Marshall Islands = OFFSHORE with basically no regulations or accountability to anyone - use at your own risk! I would stick to EU regulated brokers even if it means lower leverage.
+UKspreadbetting have you heard anything about Millennium FX? I've been researching them, all I've seen is that it's a scam. Really, really nice and genuinely happy guy talking to me... But what an evil, evil man. I guess that's why he's so happy 🤷🏻♂️ 📉💲
The problem with most brokers is that they connect bonus given to deposit made. If 100% bonus then trade volume must be 50 times that. I started with 1500 Euro in bonus, and trades for 75.000 Euros must be made before a withdrawal is possible. If you had 15.000 in bonus(100% on 15000 deposit), your turnover would be 1,5million$ in trades made before withdrawals will be accepted. An Inside Option consultant advised me no bonus, but my greed advised me to take that bonus, which I did.
my broker (EZtrader) says that they will let you take out deposit, but must reach turnover before take out the bonus. In their written bonus rules they state that the turnover must be made in a quite short period of time. Bonus rules in option market are quite similar to those in gambling/bookmaker market.
My conclusion in this is that Binary Option brokers may still be serious, but they may also be hoping for people to go for bonuses and stop trading before reaching turnover of up to 50 times bonus amount, then keeping the deposit. Important is if brokers accepts withdrawal after turnover or not. For the best strategy which has made many traders successful trading BO/Forex or if you are having problems withdrawing your funds from your broker and you wish to get your money out, Kindly contact me via WhatsApp on +1 (267) 725-1892
I would steer clear. While 24options might be legitimate they don't have a good reputation. And no legitimate broker will tell you that you'll get guaranteed profits. Stick to the ones we recommend here http://www.financial-spread-betting.com/spreadbetting/compare-spreads.html
Kindly please answer if this is a scam or not: There was a guy asking me to invest EUR 1500 to Forex trading and lock it there for 6 months... after 6 months of not touching my invested money, I am going to receive a monthly pension of EUR 4800 for life. Thank you for your answers and opinions
The forex market in general(bank trading, business capital transfer, and government trading) is not a scam. The investment sector is usually is. They flash you quick cash get rich instantly lifestyle to sell you education programs and software tools. You either make yourself more money or someone else in forex.
Forex trading is not a scam, instead its a gamble. The scams are the people selling fantasy signals indicators softwares and the rest of that garbage. Playing the forex graph is not trading, its trying to guess a direction long enough so as to make a profit after the spread and margin interest. The runs people are looking for are as unpredictable as the runs on a roulette wheel. I am shocked that people are so ill educated. The trading world is massive and a persons trade is a grain of sand in the universe. There is no real time connection between a trade on the forex graph and the massive and mutating financial pressures that spits out the exhaust called the forex graph.
But but I've just ordered my lambo lol
Good videos. It's a pity there is no official organisation to help people learn as I get emails every day from someone trying to sell me a system that will my me rich very quick. It's hard bloody work but do able if your not stupid and don't leverage your self to big.
I was also interested in your meets in Manchester and was wondering what the process was for applying for a seat. I have a busy schedule with work and I live in Hitchin (north Hertfordshire) but would love to find time to attend. Am relatively new to trading and believe networking would help take my trading up a level. Cheers.
You CAN make a million in a week, and a billion in a year; it's not unlikely; many have done it; therefore, everyone can do it. The calculator doesn't lie.
I am confident that, in my first trading year, I will profit $1M. I've been studying for a few months now, though time doesn't EVER correlate with knowledge reception.
Your only limitations are the ones that YOU set up, in YOUR OWN mind.
I wouldn't say "many have done it", but it can be done. For sure in this process, one learns humility, patience & great respect for the market. Make no mistake, nobody's giving away that sort of money. It is a huge but very stimulating and rewarding challenge, if you are dedicated to your craft.
Well thanks that finally we are discussing this. Very sensitive topic. Just wanna be careful in laying this down though :) I think this is a very big misconception about the currency/forex market, hence the recent regulatory issue (crackdown) - I prefer calling it an UNFAIR ATTACK to CFDs / Spreadbetting. As a retail trader myself, I believe that it's the trader's responsibility FIRST to know what we are getting into. The only problem I see here is first, the barrier to entry - a very low barrier to entry - mere $5 - $100, making it very affordable to the inexperienced and untrained folks and considering the global reach of the product. I came from cash trading stocks in my home country and recently getting into forex which is a leverage trading is a major adjustment. Risk management from cash trading is a lot different from that which using a leverage and I think this is where the confusion or the problem starts. FX is one hell of a number's game. Contract-for-the-Difference (CFD). A trade has to exist in a certain spread only - a floating spread (volatility-dependent) and a fixed spread. A trader HAS TO SQUEEZE his/her way around that spread only. Taking into account the transaction costs (entry/exit commissions, overnight swaps, etc.etc) in computing the break-even level of a trade has a tremendous impact in the risk:reward ratio. It's no wonder that 8 or 9 out of 10 account holders won't survive. The worse thing is, most of them is not aware of this. That's why I am constantly asking this channel to get into the nitty-gritty of this and I really appreciate every effort and help that's extended especially for beginners.
With this, if we can discuss( for beginners) into the details of following:
OVERNIGHT POSITION CHARGE (LIBOR RATE)
No, it's not an impossible job Daniel :) Gold and forex trading are not that perfect stranger to each other at all. Actually, I got pushed into the forex market because I was trading gold/mining stocks already. Gold trading is partly a function of a number of currencies weighted against the US Dollar. No offense.
Ive found a nasty nasty scam .. its call the modern day educational system, that took 15+ years of my life away from me which was suppose to prepare me for a JOB that will provide every thing for me... then i realized it was a scam so i started trading Forex and crpyto 😂😂
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