Forex Facts Cleared
The Broker might trick me
It is true that just like most other places you sign up to, some things are not what they seem, and a lot of the unpleasant details are not exactly paraded for your sight. However if you read through the full rules and regulations, terms and conditions, and any extra details written about any part of their services, then the broker is by law held accountable to live up to those details. But overall the main things you need to know, you can ask your account manager, or look for them yourselves, but the small details, although important, are never big enough to con you into losing money.
I don’t want to become committed to a broker
You are never committed to a broker. There is no form of agreement which will hold you responsible to trade with a specific broker for any amount of time. You open an account with an initial deposit, and from that point onwards it is entirely up to you how often you revisit the account, redeposit, or if you leave it entirely.
I am completely unfamiliar with Forex
Despite the fact that it’s one of the biggest industries in the world many people still cringe and question the word FOREX. If you are one of them, then you obviously need to expand your knowledge about the subject before deciding whether you could possibly ever get into it. But as one of the biggest and fastest growing industries with billions of dollars circulating on a daily basis, and one of the leading factors behind economic changes, it would be a good idea to get to know what Forex trading is.
Forex is a Scam
A big misconception is that Forex Trading is a scam. It is only a scam if you consider all types of trading a scam. Anyone who participates in Forex trading is trading willingly and at their own cost and risk. No company will ever claim to guarantee profits because that defeats the essence of trading Forex. It is simply another form of investment, where you put in money hoping to make more in return but knowing you may lose them altogether.