“Do not offer jobs in Forex” or why people are afraid of this word

Over time, it is amazing to observe how a person’s opinion and his judgments about certain things change.

Most people were glad about the arrival of capitalism in the territory of the former Soviet Union, and assumed that they would take a more attractive place in the new society.

But practically nothing has changed, the janitor remained a janitor, and the employee was an employee and people again wanted to live under socialism.

The same metamorphosis occurred with the attitude of our citizens towards engaging in stock trading, and Forex in particular.

At first, the emergence of the opportunity to trade on the stock exchange aroused keen interest among those who wanted to earn a lot and quickly, but as it turned out, this activity is easy only in films.

Failures quickly changed the attitude towards this process and now you can often find on job search sites such a phrase as “Do not offer a job in Forex”, that is, the person who wrote it most likely already has first-hand knowledge of stock trading.

What caused such a dubious reputation?

It turns out that there are quite a few objective reasons:

• Unskilled work of managers of brokerage companies - ideally, people who have no idea how to trade on it should not be allowed into the market.

Brokers must provide training to their clients before providing them with a trader's trading terminal. This is what made it possible to avoid those countless withdrawals of deposits that create a negative attitude towards Forex trading.

• Advisors for automatic trading - they also lost quite a few deposits, both personal and deposits of the manager with considerable funds from investors.

In my opinion, these scripts should be licensed after they have proven their safety in practice.

That is, a certain criterion for the maximum loss per year must be introduced. • Brokers are scammers – during the existence of Forex in Russia and other post-Soviet countries, there have been quite a few bankruptcies of large brokerage companies.

Here control can only be ensured by the state, which it has recently begun to do with its characteristic quality, gradually turning exchange trading into a monopoly of certain companies.

• Not understanding the danger – novice traders do not always understand the risk of loss, so they even use money in trading that they are not ready to lose.

That is, it is not Forex itself or another type of trading that is scary, but the organization of the process and control over this activity.

If we consider the experience of the USA, then there is a completely different approach and attitude towards trading; many people perceive investments on the stock exchange as an additional source of income in retirement.

And restrictions on the use of leverage reduce the risk of bankruptcy tenfold. Therefore, it is not exchange trading itself that is scary, but who is doing it and how. In our conditions, you must independently assess the risks and understand that losing money due to your incompetence and huge leverage is only your fault.