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Question: Forex trading online reall or scam

(Posted by: erlix30 on 2008-08-01 08:56:51)

Is forex trading online really worth, and secured or is just a scam site

Posted by: dnldslk on 2008-08-01, 09:02:53

I don't know that particular site. Is it a broker? There are a ton of forex sites and trading programs. The reason you're even asking the question is on account of all the promotion re forex trading. IMO, forex is just another commodity. It doesn't stand out. And forex is no easier to make money at than any other commodity. If you're interested in playing commodities, get an education first.

Posted by: Hellaskinny E on 2008-08-01, 09:05:54

Forex is the real deal, and it's damn complex. It isn't an illegitimate broker you need to worry about (or is it? are you referring to a specific broker?); only the studious and formulaic investor thrives in forex (or any market).

Posted by: ITMatt on 2008-08-01, 09:16:51

Depends which broker you choose. Some brokers are scams. Due diligence is the best taken when setting up an account.

Posted by: praet_serge on 2008-08-01, 10:49:09

Forex trading might be profitable as long as you do some learning beforehand. I'm, personally, not a big fan of forex (somebody already metioned it that it's just one of many available markets). I use financial spread betting as wit spread betting you could deal with currencies, shares, commodities, indices and more. Check out independentinvestor.co.uk , they compare lots of spread betting and CFDs accounts. Some of them are actually cheaper than forex. Good luck and don't forget to do some learning and research before any deals.

Posted by: Michael M on 2008-08-01, 12:11:22

Best way to protect yourself against scams is to open an account in the United States with a broker that is a member of one or more of the regulatory agencies, such as the NFA (National Futures Association), CFTC (Commodities Futures Trading Commission), etc. This means you won't get ripped off.

Posted by: jsforex.blogspot.com on 2008-08-01, 14:56:35

As in any type of investment, one needs to practice due diligence before putting in hard earned money. 7 out of 10 online forex brokers are legit and help people participate in this huge market. What you need to look for are firms that have been around for some time and are more than adequately capitalized. As you know, goverment regulators are strict with these firms and require them to have a capital threshold or they will be shut down. There is an online traders forum that rates these brokers--elitetrader.com/ br One of the highly recommended brokers in that thread is OANDA, averaging 4 stars with over 85 ratings. Good luck! Jim Syyap - Managed Forex Accounts jsforex.blogspot.com

Posted by: jonathan john on 2008-08-01, 21:25:45

Trading Forex online is legitimate. I make my living partly on trading forex for myself. When there's money, there will always be scams for people who are not aware. Scams can be in the form of fly by night brokers who run away with your money or others schemes you put your money into. It is up to you to weigh all the factors and risk when you put your money somewhere. It also happens in forex or stock trading outside the internet.