Forex trading scam or not will finally answered by many forex traders around the world. You can get idea today if trading currencies online is just a losing game using the reviews of different forex companies. In this page, we will answer the following questions like “is forex trading for real?”, “is forex trading a losing game?”, “is forex trading profitable?” and what are the legitimate forex trading sites?
I don’t want you to lead in bad misconception. Forex trading is a serious business, period. It is not a scam. There are only people and forex trading sites, forex brokers who take advantage forex trading to lure people and scam them. I repeat, forex trading is a serioud business. Only people are using it to scam other people to make money by scamming not make money in forex trading.
Example scenario of forex trading scam or not are as follows;
- Forex Trading Scam – if someone tell you to invest in them because they are trading forex with corresponding 100% per month return of your investment
- Forex Trading Scam – if a company ask you to sign up in their trading sites and ask you to fund your account even without verification first and the account manager is always calling you in your phone to fund your account. Not just on the phone, even on email.
- Forex Trading is a Scam – if a forex broker gives welcome bonus even without verification first and tell you that you are allowed to withdraw your welcome deposit and the profits made.
- If someone ask you to subscribe in their forex trading signals via telegram for only $50 per month or $100 lifetime with only low drawdown, minimal losses, with 90% winning rate and makes 5,000 pips per week, that is a possible scam.
However, there are people and forex broker who are honest in helping other people to trade forex the right and proper way, here are some scenario, forex trading is legitimate if;
- If forex broker was regulated, then that is legitimate.
- If a trader ask you to subscribe in its telegram channel with making 600 pips per week and tell you with proper money management, you can succeed. He also tells you that he has losing trades and makes only 50% to 60% winning rate.
- If a forex broker has a welcome bonus and allows you only to withdraw the profits if you are a verified member (have a verified account), and withdraw only some of the profits made.
- And of course, a forex broker is legitimate if it was used by many forex traders around the world. Do have some time to read reviews which forex brokers are legitimate.
- Find a good forex broker using this guide.
Is Forex Trading for Real?
Yes, forex trading is for real. There are many forex traders makes money (serious money) out of trading forex. If you are in doubt, try to read reviews, experience of forex traders around the world in the comments section below.
Is Forex Trading Profitable or a Losing Game?
Forex trading is a serious business. It can be profitable or it can be just a losing game. It all depends on how traders treat it. To become profitable in trading forex, you must follow reliable and effective strategies that only build and develop in few years.
Also, it can be a losing game if a trader lose his discipline (self disciplined), and don’t have any clue how he cope with fear of losing and greed. In forex trading, it can be easy to make million dollars but it is also easy to lose million dollars.
What are the Legitimate Forex Trading Sites?
One of the legitimate forex trading sites is InvestmentTotal.com under its category investing and trading. Just go to home page and find “investing” category and you will learn many things about forex trading. I share all my experiences in my forex journey here.
And here are some of the legitimate forex trading sites you can visit to lern if forex trading scam or not;
BabyPips at BabyPips.com -its not actually talking about babies, infant, toddler. It talks about PIPS – price in points. It has a useful resources for people who wants to start trading forex. I learned a lot of useful forex trading lessons in this legitimate forex trading site like using stochastic, rsi relative strength index and a very simple trading forex strategy like moving average crossovers.
At BabyPips.com, you can ask professional forex traders in their forum, read big news in BabyPips calendar, study your forex trading lessson in BabyPips school and know how to read candlesticks and use the BabyPips position size calculator.
For more information, visit BabyPips – the beginners guide to FX trading at BabyPips.com!
Maybe you found a forex trading scam on instagram, facebook and other social media telling you to make fortune in trading currencies. I don’t know who are the legit forex traders in instagram. But one thing I can tell you. Forex trading is not a scam. Forex trading is a profession, a skill, a job either and a serious business. If forex trading is scam, no banks are still existing until today because banks are making money using your savings to trdae forex.
I hope the answer to our question about forex scam or not is clearly answered. Let us wait other professional forex traders, successful people trading currencies and those people who made a fortune out of trading forex. Read their comments below or add your experience in trading currencies.