Comments on: Is Forex trading scam?

By: Joe

Joe — Tue, 30 Nov 1999 00:00:00 +0000

Playing Forex can appear alluring, but the majority of people who try it lose money. All you have to do is do a web search on the words "Forex" and "lose" to see this is the consensus.

Forex is what we call a "zero sum" game. You are making a bet with someone else about whether a currency will rise or fall. For every winner there has to be a loser. If you are smarter than the average player, you may make money. If you are dumber than the average player, you are likely to lose money. Most of the people making the "bets" in Forex are highly trained professionals at banks and other institutions. You are unlikely to beat them at this game.

Actually Forex is not quite a zero sum game. It’s a slightly negative sum game as the Forex broker takes a small percentage each time in the spread. It’s a small amount but over a hundred trades, it ends up being a considerable amount of money. So the average player is likely to lose money, and remember the average player is a highly trained professional and probably smarter than you.

There is a lot of luck in Forex, and if you play it, you will have some periods of time where you make money. This is usually because you are having a lucky streak, not because you have suddenly become an expert Forex player. However, most people are unwilling to admit their success is due to luck. They become convinced they have a system that works, and lose a lot of money trying to refine it.

Further complicating the problem is the large number of Forex scams on the internet. Most Forex websites are of questionable honesty. You will find many people on the Internet that claim they made a lot of money using Forex. They are usually liars trying to make money. They will say: "Go to Forexcrap . com/q2347." The "q2347" is a signal to the Forexcrap site that you are being referred to them by "q2347." If they sell something to you, "q2347" gets a kickback. These coded signals can be hidden by different methods in the link. Other people will refer you to their own private website or blog for the purpose of trying to get money off you.

I would recommend not trying to do Forex at all, unless you are a trained professional. It’s like playing poker with people better than you, with the house constantly taking a small percentage from the pot.

By: John

John — Tue, 30 Nov 1999 00:00:00 +0000

Forex is not a scam, its just very hard to play. And most people buy on margin or with leverage. And that is how you lose everything. you can really lose a lot. 98% of people lose money in Forex. I suggest sticking with stocks for now. Leave Forex to the professionals…at least for now.

By: dk

dk — Tue, 30 Nov 1999 00:00:00 +0000

no.

By: Hadi

Hadi — Tue, 30 Nov 1999 00:00:00 +0000

Hai,

I have found this site to be use full for Learn forex trading. Learn forex trading with these free tips and strategies and keep up with all the latest forex news. Forex Trading Easy is a platform to make forex trading to be easier. Chek it out……….
I hope it’s will help you…

By: Elliott

Elliott — Tue, 30 Nov 1999 00:00:00 +0000

Forex trading is not a scam it is just more difficult to profit then from stocks. Stocks have been a pretty much one way bet over the last century, even though we went through booms and bust the underlying movement has always been upward. The same does not occur in forex and you can just sit and wait it out when you make the wrong call. The forex market is a high risk high reward scenario. If you are interested in making money in the forex market take the time to understand the market and gain experience.