Forex trading

Notice: This website does not purport to be a qualified source for forex trading information. Any forex trading material found on this website should be regarded as coming from an unqualified source unless otherwise stated.

Forex trading is becoming more and more popular with large banks and large forex brokerage firms campaigning to get ordinary citizens like you and me involved in trading currency in the foreign exchange market. But don’t think for a minute the large banks and large forex brokerage firms are peddling forex trading to us because they want us to get a share of some of the trillions of dollars that get traded in the foreign exchange market every day.

The Internet has allowed the development of technology that makes it possible for amateurs like you and me to trade currency supposedly right alongside the multi-millionaires who up until a decade or so ago were the only ones involved in currency trading; and because currency trading has the potential to be highly profitable, it is an easy lure. The large banks and large forex brokers know we are desperate to make money and they hope to cash in on our desperation. That is not to say they are out looking to scam us.  While there are plenty of forex scams abounding throughout the Internet, forex trading is itself legitimate and there are legitimate forex brokers providing daily access to the forex market; but you should probably not have expectations that you can get rich trading forex, and if anyone tries to convince you that it’s easy to get rich forex trading, you should probably steer clear of them as they are more than likely to be scammers.

The NFA (National Futures Association) warns on its website that forex trading is not suitable for most members of the general public; but it’s easy to disregard or make light of that warning; and in fact, it would seem that many of the big online forex trading brokers, including the legitimate forex brokers want you to disregard or make light of that warning. Why else would they go out of their way to make it easy for you to get into forex trading. They warn you that it’s not recommended that you start a trading account with less than $50,000 and yet they make it possible for you to start a forex trading account with $300 and sometimes even less than that.

It should be obvious to you that there’s a benefit for the forex broker in having even you with your $300 trading in the forex market alongside people who have hundreds of thousands and millions of dollars invested. The forex broker is in the business to make money and you are going to be helping him make money one way or another.