32 Comments

  1. It's not matter of being a scam… the real question is realistically can it be profitable for most people? If the statistics are correct, then 95% to 97% fail and lose money in trading forex. Then people say well those people are emotional traders or horrible risk management etc.. while I'm sure that is true for 60% to 70% of people, why are the remaining percentages failing? What other variables are there that aren't being discussed like market manipulation, your broker setting odds against you etc.. Let's unpack this straight up.

  2. I was called by a trader from cityfxtrader.com today. She wants me to get a £40000 loan to make a trade that will make me £56000 clear of the 40g loan. So 96gs in total. And they pay the loan back before you pay a penny. They are not FCA registered because they trade mainly cryptos. But they say the banks used to transfer funds are. Pls advise

  3. It might not be a scam but the vast majority of individual retail traders will lose their entire accounts. The stock market is much better to trade because there is actual trade volume in the stock market. FX has some nonsense “volume” indicators but there is not real volume indicator for fx.

  4. Just because 99% people lose money in Forex, statistics wise, doesn't mean it's a scam. It depends on what you did to lose your money, rather than blaming the forex market for it. These two ideas of losing money (ie. What you lost and how you lost it) are where some people,who lack self-awareness and responsibility, fail to differentiate.

  5. The Forex scams are the people online who claim you can become rich, on small investments etc. Claiming Forex is like Bitcoin, is very misleading. Forex really doesn't go up/down that much – a great year might be a 30% profit.

    So, unless you have $90-100k to invest, and you're willing to risk it all, you're not going to make a living from it.

  6. Real Forex is basically making $150 profit a month, on a $2000 investment. That's if you invest a lot of time in it and work hard. And is it worth all the work for $100 month? That's why most people quit, after experimenting with it. You're not going to earn a living from it unless you have at least $30-40k to invest.

    Fake/scam Forex are the claims you can male $5000 a month on a $2000 investment. These are fraudulent schemes just designed to steal your money

  7. Forex isn't a scam. But Forex is definitely used by scammers. Two different things.

    What I mean is, if you work hard, and are good at it, you can make a consistent 20% profit a month.

    However, scammers tend to make claims that you can male 500% profits a month, to trick people into investing money into fraudulent schemes. Anyone who knows Forex well, knows how unrealistic it is to even make 70% profit a month

  8. I honestly feel to start to think forex is really a scam…. And I tell you this after almost 2 years of live trading and watching charts. So I have a little experience. Whatever you do, these damn graphs will go against you for some reason or another. Regardless of your analisys quality, and your logically behaviours patterns.

    My feel? Banks simply push the price into your stop-losses, of losers retail traders. When everybody buys or sells, the big banks which have all the money will do the opposite therefore the currency will appreciate or deprecciate this resulting in losing all your money. So banks take all your money. Just whatever you do, banks will take your money and stop-losses.

    So it doesn't really matter how good you are. With pain in my heart, forex trading and any form of trading doesn't seem legit. If you buy, they sell. If you sell, they buy. Whatever you do, just something bad happens only if you did the opposite….

  9. A trader asked me once to pay him too teach me to trade. A monthly fee of a £100 I think. He also said there was a network where we would get alerts about buying or selling. Is this legit?

  10. only manual trading is real…everything else is waste f money….but manual trading is gambling ….so here it is …. forex is the biggest casino in the world….

  11. Currency data is 5 minutes delayed (times in ET) and based on the Bloomberg Generic Composite rate (BGN)….so is a scam…it is not in real time …the brokers however don`t leave you to make huge profit but they help you to do huge loss

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