Is Forex Trading A Scam?
If learnt correctly, and in an unbiased manner then Forex trading is a great skill to possess. It mixes mathematics with psychology which may not only be a hobby for you, but it could be a lucrative career.
Is Forex trading a scam? The short answer is NO.
However, the real question is why does Forex carry a tainted name / reputation in the first place? Let’s have a look into the factors that this could be due to, and how companies like ourselves steer far away from anything of the category.
Most brokers will let you know as soon as you go onto their websites (especially those that are regulated) that around “80% of retail investor accounts lose money when trading Forex and CFDs”.
This, normally, is not due to anyone else’s fault other than the traders themselves. This could be for varying reasons, but in most cases it would be due to relying only on luck to trade – and not implementing a plan before placing a trade. In the long run luck will very rarely pay off in the forex market.
This could be one factor as to why forex has a tainted name. Although, it is true to say that even if you are educated and have a plan in place that you still can lose money when trading. The markets are volatile and risk will always be apparent.