The forex market is huge, globally connected and has a wide range of participants. When you have decided to become a forex trader, you also need to equip the most basic knowledge to protect your money from fraud and risk. Here are some types of risks and scams that you need to be aware of.
Market risk when trading forex
There are unofficial statistics, but it is still spread that 95% of forex investors are at a loss. Yes, you understand how high this ratio is. So forex is not an easy place to make money for most people. You should consider carefully before participating in this market.
Find out carefully What is forex The methods and effective trading strategies are detailed in the website fx24.net this.
You should only allocate part of your idle money into forex. Absolutely not borrow money to play forex.
Risk of fraud in the forex market
In addition to the main participants such as Central Banks, commercial banks, Brokers and small traders, there are other components involved in forex services such as: Opening forex training classes, selling robots, trust transactions (investment in households) .... Not all of them have a mind. So you need to be alert to any seduction.
Risk of fraudulent and shoddy courses
There are a lot of failed investors, with little experience, with the skills to seduce customers to open training centers, thousand-dollar courses. Their main income comes from your training fees, not from forex investments. They sell trivial knowledge for thousands of usd. Meanwhile you can learn online with full knowledge from basic to advanced. So not involved in the investment, you have lost money right from the parking lot.
Scams sell forex robots
Many people make money by selling forex robots. Certain types of robots work in certain market situations, but most will burn you out of your account. Think about it, if that robot could earn money for them then no one would sell their treasure to others. But because of your love of money, you can easily be tempted by their words and arguments that sound reasonable.
Scams in forex investment trusts
There is a part of trader who is delusional in his ability. They think they are good and look for people with idle capital to entrust them to invest in the household and then share the profits. While they have no evidence to prove their capabilities. The evidence is reasonable only the winning results in a certain period, but they did not show you the time when the account was burnt tinged!
Risk of opening accounts at un reputable forex brokers
Many fraudulent platforms can use technical tricks to deplete your account. So when participating in trading on the forex market, the first thing is you must open a forex account at a reputable forex broker in the world.
Refer to: The world's leading reputable forex brokers
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Author: Pham Khuong
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