Is forex trading a total scam?

So many people think that Forex and Day trading are a total scam. Are they? The answer is: partially. It's not the markets that are the scam, but the brokerage firms. Not all of them are fraudulent, but most of them are.

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There is no such thing as a perfect broker when it comes to retail trading or private day trading. There's almost always a conflict of interest. They're mainly set up to get you to trade more and drive their commissions and ridiculous spreads.

Over 90% of traders lose money, either all or a portion of their trading accounts. Of course, some brokers don't even record trades at all. They keep the loses and don't make the trades. It's a very profitable business model!

Fake gurus are also are a source of fraud in the day trading industry. The internet is full of these types of traders. They offer trading courses and simple, incomplete methods that are guaranteed to lead you to failure. Courses are also sold by brokers, and the trader has a conflict of interest with the broker, so it's not a good idea to take their trading courses either!

Forex is a market, and a global exchange. Participating in the market might cause you to lose money, but the market itself isn't a scam, there's a legitimate buying and selling function happening there. All the trappings and industries around the market - that's where the scam is! Unfortunately, this constitutes about 95% of what's happening in the Forex industry.

Видео Is forex trading a total scam? канала Thomas Kralow