Forex pros and cons.
The prospects for quick and easy money attract people of any age; one of these categories includes
trading on the Forex currency market.
What lies behind the apparent simplicity of trading and how realistic is the earnings in this field of activity?
First of all, a beginner is concerned with the question: Is Forex not another pyramid scheme for pumping money out of the population and how realistic is it for a novice trader to make money there? 1. Forex is not a pyramid - firstly, it should be noted that the exchange itself has existed for about 50 years, trading on it is carried out not only by domestic dealing centers , but also by large banks in countries such as Switzerland, Germany, Austria, etc. The only difference is the requirements for the client’s initial deposit; if in our Dealing Centers you can start trading with literally a couple of dollars, then European banks prefer large clients with deposits of 10,000 dollars or more.
2. The potential for a beginner to earn money is close to zero, due to the fact that most beginners simply ignore the basic rules of forex trading . Typically, the first earnings appear after a few months of trading.
3. The opportunity to make money quickly – the earnings range is simply enormous; professionals earn from 5% per month to 500% per day. The size of the earnings directly depends on the trading strategy and the trader's professional skills.
4. The main dangers in forex trading are high leverage and the lack of stops. For example, most bank brokers limit the maximum leverage to 1:50, thereby protecting their clients from excessive risk.
5. Non-market risks – in forex trading, non-market risks include the intermediaries through which trading is conducted; not all of them inspire confidence, and some even work against their clients. Only large forex brokers .
Like any job, Forex trading has its pros and cons. The pros include online work, high earnings, and excellent prospects. The cons are also familiar: high risk and the possibility of fraud from DCs. There's no doubt that trading is all about you – choosing the right DC and how you structure your trading process. Only the greediest and most careless lose on the exchange.
