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Is Forex reliable?

  • #441
  • Jun 25, 2020 3:50pm Jun 25, 2020 3:50pm
Quoting mlawson71
Is possible, pick a broker regulated in your jurisdiction - if your local regulator can be trusted. That means to research your local regulator too.
Very true and doesn't get said enough.
  • #442
  • Jun 26, 2020 5:35am Jun 26, 2020 5:35am
Regulation matters but I rather say we should also check the reputation because there are several bad examples of the past where even regulated brokers turned bad and stop paying their traders. No idea if those trading victim got their money back or not.
  • #443
  • Jun 26, 2020 8:16am Jun 26, 2020 8:16am
True, that does happen. But still, having proper regulation is better than having no regulation. Scammers go to great lengths to appear legitimate. Scam brokers actually went so far so as to build a whole fake CySEC website and list themselves there as legitimate brokers. It turns out people need to watch out for that too. It's just mind-boggling how convoluted these scams are.
  • #444
  • Jun 27, 2020 11:31am Jun 27, 2020 11:31am
Regulation is not a sure-shot criterion of choosing a reliable broker but it, kind of, helps in filtering out the "surely-a-scam" brokers from "maybe trustworthy" brokers. Even the reviews on broker-rating websites can be biased and the ratings manipulated.
  • #445
  • Jun 29, 2020 2:00am Jun 29, 2020 2:00am
Trading with reputable brokers with good regulation is much more safe and reliable I think. One should do a lot research before choosing a broker, need to be careful of scams in this filed.
  • #446
  • Jun 29, 2020 10:58am Jun 29, 2020 10:58am
Quoting Klemens.3
Trading with reputable brokers with good regulation is much more safe and reliable I think. One should do a lot research before choosing a broker, need to be careful of scams in this filed.
True, but as mlawson71 pointed out scammers will go to any length to appear legitimate. Picking the right broker is becoming increasingly hard with hundreds of brokers appearing on the web every day.
  • #447
  • Jun 30, 2020 7:59am Jun 30, 2020 7:59am
Exactly. If you don't have a proper broker you can't trade, regardless of how much you know.
  • #448
  • Jul 5, 2020 4:31am Jul 5, 2020 4:31am
To suffer a loss because of a poorly formulated strategy is one thing. To lose money due to a scam - completely different story.
  • #449
  • Jul 6, 2020 1:47am Jul 6, 2020 1:47am
Quoting mlawson71
Exactly. If you don't have a proper broker you can't trade, regardless of how much you know.
nice point you have marked , if there is no support from a proper trading broker , its really difficult to survive in there with successfully.
  • #450
  • Jul 6, 2020 6:44am Jul 6, 2020 6:44am
Every market contains risk and forex is no exception. As per my experience forex is reliable, however it is our responsibility to be careful.
  • #451
  • Jul 11, 2020 8:46am Jul 11, 2020 8:46am
Quoting Gomez.ser
Is it safe to trade in forex, Does it actually bring profit and can forex be helpful to develop my business ?
Safe as in "Will I ever lose money in trading?" - Yes, you would lose money every once in a while (esp. in the beginning), everyone does..but you can work hard and stay in overall profits. Safe as in "Will I be scammed?" - No, if you are careful and use common sense you can avoid scammers. Will forex help you develop your business?..that question is too broad to answer.
  • #452
  • Jul 13, 2020 5:34am Jul 13, 2020 5:34am
Quoting mlawson71
Exactly. If you don't have a proper broker you can't trade, regardless of how much you know.
A good suitable broker is must.
  • #453
  • Jul 16, 2020 6:23am Jul 16, 2020 6:23am
its safe or not it depends on your movements. if you are greedy and emotional i think it can be most worst place ever. so be careful when trade into this market place.
  • #454
  • Jul 16, 2020 6:41am Jul 16, 2020 6:41am
according to my trading experience i think forex a source from where you can get more financial backup if you can stay in here with a long term patience , otherwsie its more appropriate to leave the place.
  • #455
  • Jul 16, 2020 8:12am Jul 16, 2020 8:12am
honestly speaking , forex is not reliable unless you becoming reliable on your habit.
  • #457
  • Jul 21, 2020 3:01am Jul 21, 2020 3:01am
As a trader i would say, trading depends on the person not on forex, its just a tool we use to carry on transaction and determine whether we would gain profit or loss from it.

So to conclude with the question whether forex is reliable or no, Its reliable to those who have the knowledge about forex.
  • #458
  • Jul 21, 2020 6:38am Jul 21, 2020 6:38am
its a nice calculation you have done , thanks for your nice post.
  • #459
  • Jul 22, 2020 9:08am Jul 22, 2020 9:08am
Quoting DominicCon
As a trader i would say, trading depends on the person not on forex, its just a tool we use to carry on transaction and determine whether we would gain profit or loss from it. So to conclude with the question whether forex is reliable or no, Its reliable to those who have the knowledge about forex.
I agree with you, Forex neither favors you nor is rigged against you. You can make profits if you get a grip on how the market works.
  • #460
  • Jul 22, 2020 1:27pm Jul 22, 2020 1:27pm
which trading platform is reliable for you , it depends on your money management , if you have good management then you can make profit very rapidly.
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