How Wish And Fast Fashion Is Bad For The Planet Top 5 Ways the Forex Industry Has Earned a Bad Reputation

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Top 5 Ways the Forex Industry Has Earned a Bad Reputation

Yes, we will definitely try to start this conversation. No, this is not why you should avoid Forex or consider fraud as a potential customer. This is a real problem that tarnishes the image of the industry and reduces the activity. The Forex gap is a problem for brokers who try to improve their services and stigma is also applied to traders. Who is responsible for the downturn of the industry? Tips, Tricks: It’s all involved.

5. Brokers encourage deposits in any fashion.

Yes, the economy is in bad shape and businesses will move on to make sure the money is in their income. Does it excuse ridiculously low deposits? Does it justify a sales call after a few days of testing? Does it justify reckless refunds and requests?

If it seems like the Forex industry has taken some tips from the casino gaming industry, you are likely to be an observer. Casinos and poker sites use rakeback bonuses, comps and VIP Points to build loyalty, and they use deposit bonuses to gain visitors. Forex companies that act like casinos damage the reputation of the industry and trade that is happening. Bad brokers’ actions make the actions that take place in the world’s most liquid and active markets seem insignificant and insane.

Depositing at ridiculously low levels is also a problem, depositing $ 1 is crazy. Then again, brokers who deposit under $ 250 really scratch your head. Forex is not a trip to the racino horse slot machine, nor is it a lottery! People should trade the amount they feel comfortable trading, but take careful trading steps.

By acting like a casino, brokers are undermining the credibility of the foreign exchange market.

4. Signal Pushers Running Wild

The snake oil sellers of the Forex industry are ready to serve you with their purity, created by “amazing” ideas that have tested the trend over the past 15 years, which will guarantee you a profit. % Or winning percentage beyond a certain point. This is just crazy, no guarantee on the market. Even securities with fixed income must be evaluated for a guarantee of corporate / sovereign / municipal debt repayment.

Websites for most promoters are cluttered and they send spam from forums and Twitter. They catch people who lose money so they can buy their services. If their sign was very good, they would not have to distribute it to the public for one price.

If someone has a signal program that runs 80% of the time and is stuck getting 20%, would they really strive to distribute it at a price? No, users will trade based on this information and do so to the extent that they feel comfortable and do not share this valuable information. They will be rich in a short time and the world will not know the signal program. Is the signal program as good as the algorithm trading software designed for banks and hedge funds? Likely to stay away from it. Yes, banks lose money on trading despite high frequency trading.

There is no magic elixir, sorry.

3. Current Forms of Trial Trading

Do you have $ 100,000 to throw into Forex trading? OK, do you have $ 50,000? Okay, $ 25,000? Well, Forex brokers are there – believe you do! Or it may seem … it may be that a number of these funny shows have been launched to create uncertain expectations in the heads of traders to bring them to trade in a real environment, thinking that they Can you reach such a high level on your own?

Or … maybe brokers think that by offering something uncertain that their presentation is only for those who are interested in learning and experiencing trading software? Probably the only practical broker experience they can offer comes at a price and it is designed that way.

Another explanation is that they may not have many good ideas to motivate and retain customers.

2. Forex Scams

The unfortunate thing about Forex is that bucket shops, scam artists, boiler rooms and brokers who trade against their clients are more common than you think. These companies and the individuals who run these companies are pushing the industry into the ditch. Regulations are on the rise, and alternative visionary start-ups need to raise capital to compete in some markets where driving in customers is uncertain.

Forex scams make the industry seem shady and unlikely when in fact it is an alternative trading market for those who do not intend to keep track of 5,000 different companies. It was like Las Vegas during the 1950s and it got you all involved. It hurts to advertise to new clients because they may have heard a horrible story about how someone lost so much money or their identity to a Forex scam artist.

Those who run these gruesome transactions that come out to rip or damage their customers should shut down and give customers money. Back.

1. The trader himself

From the pie-in-the-sky dream of wanting to get rich quick due to overpowering to not take the time to choose the right broker until you are not ready for direct trading from the beginning. The traders themselves gave the industry a bad name because they failed at the short set of 65.01% (Q2 2013 in US).

The scare tactic used by many is that 95% of traders lose their money but the facts do not support it. The so-called smart businessmen continue to talk nonsense, this seems to be the truth of the gospel, but The truth is a lie. More and more traders are more successful than what it is said on message boards, forums and in workshops. A failure rate of 65% is average, you will see a failure rate ranging from 54% to 78% depending on the broker. Not surprisingly, brokers that attract consumers with ridiculously low deposits have a high rate of nonprofits.

The problem is that most traders do not have complete information and when they interact with prospective traders they give bad information. This is dangerous to the industry.

Continuing to cause problems that plague the industry will eventually end up trading most of the world’s retail currencies, and that is a shame.

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