Best answer: Is Forex Trading Real Reddit?

Is forex trading real and legit?

Is Forex a scam? The Forex market is a legitimate trading market where the world’s currencies are traded. It is not a scam in itself. Without the Forex market it would be difficult to trade the currencies needed to buy imports, sell exports, to go on holidays or do cross border business.

Does forex make real money trading?

Forex trading may make you rich if you are a hedge fund with deep pockets or an unusually skilled currency trader. But for the average retail trader, rather than being an easy road to riches, forex trading can be a rocky highway to enormous losses and potential penury. But first, the stats.

Are forex traders on Instagram legit?

The short answer is no. Most forex traders you see on Instagram are scammers, making money from selling courses and not from actually trading forex. They’re nothing more than marketers, selling a dream.

Is Reddit forex safe?

While the market itself isn’t a scam, the people who advertise it usually are. It is extremely volatile and is not meant for people to be trading on it. It is mostly meant for businesses making international contracts.

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Can a forex broker steal your money?

While it’s rare that a broker will literally steal his client’s money (though that does happen), typically the “theft” of investment funds comes in the form of other fraudulent violations of securities law and FINRA rules which leads to significant investment losses.

How safe is forex trading?

Forex.com is considered safe because it has a long track record, it is regulated by top-tier financial authorities, and its parent company is listed on a stock exchange. Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

How difficult is forex?

Often perceived as an easy moneymaking career, forex trading is actually quite difficult, though highly engaging. The foreign exchange market is the largest and most liquid market in the world, but trading currencies is very different from trading stocks or commodities.

How much can you make with 1000 forex?

Well, this depends on how much you’re risking per trade. If you risk $1000, then you can make an average of $20,000 per year. If you risk $3000, then you can make an average of $60,000 per year. If you risk $5000, then you can make an average of $100,000 per year.

Why do people post forex?

A new generation of self-proclaimed Instagram traders is using flashy social media profiles to trick aspiring youngsters into thinking they can teach them how to make thousands every day. So-called Forex traders post pictures of the sports cars, luxury holidays.

How do brokers make money in forex?

In return for executing buy or sell orders, the forex broker will charge a commission per trade or a spread. That is how forex brokers make their money. A spread is a difference between the bid price and the ask price for the trade.

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Which forex broker is the best in the world?

Best Forex Brokers

  • Best Forex Brokers.
  • CMC Markets: Best Overall and Best for Range of Offerings.
  • London Capital Group (LCG): Best for Beginners.
  • Saxo Capital Markets: Best for Advanced Traders.
  • XTB Online Trading: Best for Low Costs.
  • IG: Best for U.S. Traders.
  • Pepperstone: Best for Trading Experience.

Is forex better than stocks?

Forex trading is generally less regulated than stock trading, and forex traders have access to much more leverage than stock traders. Forex trading uses pairs, so the trade depends on the performance of two economies rather than trading a single stock.

Is forex an MLM Reddit?

The Forex market itself is not an mlm, it is an OTC foreign exchange market for trading currencies.

Where can I day trade on Reddit?

The 20 Best Day Trading and Financial Subreddits

  • /r/wallstreetbets. ( …
  • /r/stocks (2.3 M members. …
  • /r/investing (1.7M members)
  • /r/StockMarket (1.2M members)
  • /r/pennystocks (1.2 M members, but they are called ‘astronauts’ in the community)
  • /r/AlgoTrading (865K members)
  • /r/options (>700K members)
  • /r/economy (438K members)