Is it worth trading on Forex? Is it worth getting involved with Forex? Let's get back to real numbers - How to make money on Forex
Dmitry Smirnov, author of the blog, is in touch with you as always, and in this article I want to tell you about whether it is worth starting trading on the global Forex currency market and how to trade Forex easily and simply.
Where to start and how to trade Forex
The Forex company with great pleasure and hope wants to present to you its principles, theory and attitude towards working on the FOREX currency exchange. Recently, there has been a lot of pressure from dealing centers in attracting new players to the currency exchange in particular, as well as disappointment and withdrawal from work of many novice traders. This disbelief in one's own success begins after several failures or even major failures. Massive failures among beginners give rise to rumors about the hopelessness of something, therefore, skepticism and disappointment in working in the Forex market arise in fairly wide circles. But everything is correct, working in Forex is not for a wide range of people. It is serious, painstaking work designed to earn considerable income. But simply playing for fun, without experience, knowledge, trust, first of all, in oneself, has never brought profit to anyone. The open opportunity for absolutely everyone to play on the forex currency exchange has shaped the attitude towards this market. Now this also applies to our trading platforms RTS and MICEX.
Let's say for those who don't know that the vast majority of players in the Forex market lose their invested money. This is happening precisely because of their fault. It doesn’t even mean that they want to slip in at random. Before working on a real account, you need to take into account a lot of factors and provisions (even not complex ones), which are theoretically accessible to novice traders. Just before working on a real account. Believe me, when playing on a demo account, there is little point in applying any theory or gaining experience. Forex is largely a psychological game, and psychology is completely absent on a demo account. A fact is a fact: a demo account does not add experience. Although, it’s better to find out where and what buttons you need to press on it.
Our advice to people who want to start working on the FOREX currency exchange:
1) Understand the superficial essence of working on the forex exchange, try it on a demo account and decide whether you like it and to what extent, evaluate your intellectual abilities regarding the analysis of price movements. 2) Decide how long you intend to do this and how much time to spend during the day or week. 3) Based on the points above, understand how seriously you want to work in Forex relative to your other activities. 4) Decide how ready you are for financial losses for the sake of the game, for the sake of experience (and what kind). Or you are determined to make a stable profit and are confident in your abilities. 5) What and how many tools will you use. 1, 2 currency pairs. Charts of which currency pairs will you use additionally for analysis (if any). 6) Develop clear criteria for entering and exiting the market. Graph analysis options. Approximate period for opening a position (from 0.5 to several days). 7) The general principle is clear: as a result, you should have a clear system of work, with clear parameters for making a decision to buy or sell, which you must not violate. The resulting trading system must be carefully tested in various situations using historical data, and only then implemented.
One pair to start with
Select only one currency pair to work with, maximum two, to temporarily switch to another. Perform actions only with it, but to make a decision you can analyze other charts of the base currency pairs. Let me explain: the goal of your system for playing on the Forex exchange should not be to earn more capital in a minimum amount of time and, accordingly, to open more positions. The goal is to develop the greatest reliability of profit on a single transaction, a way to hedge, and subsequently increase the amount of profit only by the number of lots per transaction. By playing on several pairs and opening many positions, you are misleading yourself and your budget. In other words: one currency pair is enough to organize a good trading system; by reducing the number of bets, you increase their reliability; by reducing the number of charts, you improve the quality of analysis of one chart. It is clear that all currency pairs are interconnected, but believe me, you cannot implement a reliable system on this basis; sooner or later you will face a big, big disappointment. To insure your transactions with transactions on other currency pairs, you need to have enormous experience, time and money.
How complex is the FOREX exchange and how to trade Forex
Using technical analysis when making a decision, you can interpret the chart in completely different ways (not in all cases). Or rather, different traders at the same time assess the situation differently. Those. analysis is more an art than a science, since ultimately the trader's decision depends on his experience, knowledge and personal qualities. From the point of view of the author of the site, at any moment the market movement is predetermined to a certain level, and it can be determined. Only in one case it is not very difficult to do this, in another it is very difficult, in the third - the situation is twofold (incomprehensible) - it is not even clear whether the price will reach any nearest level. In this case, a long-term insignificant fluctuation is formed - as a result, everything becomes clear or again nothing in the global sense. But you can already understand about the next levels. As a rule, in any situation that is not clear from all sides, the price will move to a certain level in one direction, after which it will turn around and move in the other direction - this time stronger. This hesitation occurs due to an ambiguous assessment of the situation. Always: making a decision on price movement should be based on the price reaching one of 2 levels. Before entering the market, determine two levels on the four-hour or daily chart - upper and lower, the price should rush to one of these levels. For a more or less experienced trader this is not difficult to do. Then look at how the price moves towards one of these price levels: fading or accelerating over equal periods of time (check this on different charts), the nature of the shape of the chart as it moves (whether it is confused or clearly moving towards the target), see how long ago this movement occurs and how much is left to the selected price level. Compare all the data and it may become clear that when the level is reached or broken through there will definitely be a reverse movement, or without correction the price will definitely not be able to reach the level (if it reaches it at all), or, having now deviated in the opposite direction, the price will definitely return to its current position, or the price will definitely reach the target.
Remember three things:
1. The price will always go where it is easier for it to go (freer according to the schedule). When determining which is easier, you always need to compare 2 important levels, and not at all, and also have a lot of experience.
2. Remember, when playing on the stock exchange, people compete with each other, and it turns out that when the market moves, it knocks out as many people as possible from the game, therefore, analyze the situation on the chart that occurred a little earlier than the present moment, i.e. figure out where the price should have gone at an early point. Then look at the pattern of the graph after this point in time and draw conclusions.
3. There are a lot of correct systems for playing on the forex exchange, and all of them can bring stable profits. You need to develop and play according to a system that YOU are able to implement and not violate.
Do not borrow money to play on the stock exchange, even without interest. Don't bet in fear of losing. Forex is a psychological game. Calculate the mathematical expectation in your gaming system, understand: if it is negative, you can win for at least a year, but then you will inevitably find yourself at zero. The fastest way to lose everything is to break your own gaming system.
Choosing a broker
When choosing an intermediary between you and access to the game on the forex exchange, pay attention to how much of an intermediary they are. Poor quality website, poor design, lack of a real office in a major city, lack of round-the-clock technical support, unclear fees for withdrawals and deposits, as well as any other fees, indicate the weakness and dishonesty of the company. Some intermediary companies work under an affiliate program and are not responsible for anything at all. But there are also others who, to put it mildly, do not conduct business honestly and will not allow you to work and earn money normally. I don’t know how many such organizations there are, but they exist.
Now you know how to trade Forex! Good luck! Better try yourself in binary options,
To believe that Forex really is such a good place. Reasonable question If everything is so simple, then why don’t all the people here earn money for themselves? Isn't it easier to trade on the foreign exchange market while sitting at home than to work, for example, in a factory? Let's see what the pros and cons of the market actually are, and also take a look at the real results of traders.
Let's start with the fact that the foreign exchange market operates around the clock and you can trade on it at any free time. This allows many people to not quit their jobs, but at the same time learn how to make Forex trades. It is also important to immediately take into account that training in trading, as trading in financial markets is called, usually lasts for years.
Pros and cons of Forex trading
Let us list the universal strengths and weaknesses of the foreign exchange market. Let's start with the positive points:
- trading at any time of the day
- there is an opportunity to study without investing money
- enormous market liquidity
- You can collect investments in PAMM services
- there is automatic trading
- You can trade from almost any mobile device
- no bosses
- We control the risks in trading ourselves
- high risk market
- no guarantees or stability
- According to statistics, more than 90% of traders are not successful
- no salary
It turns out. that the opportunities are very good, but whether a person will be able to take full advantage of them is unknown. The risks in the market are high, but we ourselves can control them during trading, there are no guarantees, but where are they even?
Do people make money on Forex?
It is not difficult to answer this question. On specialized forums, speculators often share their trading results. Some are looking for investors, others just want to brag about how well they did for the quarter. In addition, there are special services called PAMM, where traders trade Forex, and their work is monitored by investors, who then invest their money in these investment deposits.
Such PAMM systems of different brokers are listed. You can go to the website of any company and see who is in the TOP managers, how long a person has been working on a deposit, and what successes he has. Including, there is information in graphical form, that is, you can familiarize yourself with the account’s yield curve.
To the popular question, how much exactly can you earn in the market, the easiest answer is that profit practically knows no bounds. If a trader does not have a lot of money, then he can open a PAMM account, show how he knows how to trade, after which investors will join his deposit. An important point is that people who invest money are themselves responsible for the risks that are certainly present.
Professional investors in the foreign exchange market engage in risk diversification by distributing their money into various PAMM accounts, thereby creating real investment portfolios. This is a very popular approach to making money, so if a trader earns the trust of investors, he can easily trade hundreds of thousands of dollars, if not millions.
Is it worth starting to trade Forex?
It’s better to immediately assess your capabilities, but it’s not so much about finances as it is about time, effort, and patience. Still, you have to study, and this is not an institute where you can skip a lecture and hope that the teacher will not notice. Trading on Forex is always work for results, which means you need to either take the matter seriously or leave it aside altogether.
Difficulties that a trader can expect:
- you will have to devote a lot of time, especially during the training period
- there are no serious educational institutions where you could improve your level
- you will have to seriously learn, but not everyone can/wants to do it
- results usually become obvious after several years of training
- Even if you try very hard, you may not reach a decent level
True, if you achieve your goal, if you begin to understand market processes and often predict events, your earnings may turn out to be such that not a single employee in your city earns as much in a year. It’s not difficult to calculate what you can earn by successfully managing an average PAMM account.
Imagine that there is $200,000 on deposit, and the distribution of profits between investors and the trader is 60/40 in favor of clients. With an average monthly earnings of 10%, the manager will add $20,000 to PAMM, of which 60% goes to investors. In total, a speculator will receive $8,000 in a month on a very average investment account, and his own funds may be used in his work, for example, $500.
This is the reality, these are the facts and an inside look at Forex. The prospects here are huge, and there are also quite a few people who have already achieved their goal. Forex is worth it, to think about the opportunity to work and earn money in comfortable conditions. Let me remind you that you can try your hand at free demo accounts, which are completely identical to real deposits.
Forex currency trading: to take risks or not to take risks?
Forex currency trading – can beginners count on successful trading? How to avoid getting into trouble, and where to find money for trading big? Everything you have long wanted to know about the foreign exchange market, the trading mechanism and the rules for concluding transactions.
We reveal all the secrets of successful currency trading on Forex
Currency exchange on exchanges is continuous - every second some currencies are sold on the exchanges and others are bought. This is due to many reasons - from making payments between transnational corporations to using money for personal purposes, for example, to travel abroad. The constant demand for foreign capital became the reason for the creation of a unified network in which sellers and buyers could freely carry out any exchange transactions promptly and around the clock. This network is called Forex, which means Foreign Exchange Market and is translated as the International Currency Exchange Market. The development and formation of Forex laid the foundation for a new type of business - currency trading. Read this article about how to succeed in this type of activity.
What you need to know about currency trading
All Forex trading is carried out using special contracts, so-called currency pairs. Banknotes of a particular country are designated by an abbreviation of three letters. Pairs consist of two currencies: the first place is occupied by the base one, and the second place by the quoted one. Imagine that we need to find out the exchange rate between the euro and the dollar. If the exchange rate of the EUR/USD pair is 1.45, it turns out that for 1 euro you need to pay 1.45 dollars.
Your job is to buy what goes up in price and sell what goes down (Paul Tudor Jones)
Positions – transactions opened by Forex traders can be of two types:
- to buy (if the currency is expected to rise);
- for sale (if the exchange rate is expected to fall soon).
Buying is called a “long position” or “long”, from the English long, and selling “short” or a shot, from the English shot. This is due to the fact that if we consider exchange rates from the point of view of strategic planning, they always grow in the future, which means that the purchase is made with the aim of making money on the difference in the increased rate.
In principle, traders in the Forex market can make money from both rising and falling exchange rates.
Bid and Ask
For all pairs, two quotes are set:
- “Ask” – the cost that a trader must pay to the broker for purchasing the base currency;
- “Bid” is the cost of selling a certain amount of the base currency.
For example, if the EUR/USD pair quote is 1.2723/28, then this tells us that we can buy 1 euro for $1.2728 (“Ask”), and then sell it for $1.2723 (“Bid”). It turns out that the sale price will always be lower than the purchase price. The difference in prices—the commission per transaction—is called the “spread.” The spread can be fixed, or it can be floating. In this example, the spread is 1.2728-1.2723=0.0005 or 5 points. The point is usually called the minimum price change in the Forex market. One point for the EUR/USD currency pair is a change in the fourth decimal place.
All transactions on the market are expressed in a certain amount - a monetary amount. The unit of size is lot. One lot is equal to 100 thousand of the base currency. To start trading on the market, it is not at all necessary to use entire lots. It is acceptable to work with fractional options, which involve 0.05 lots or 0.1 lots.
Depending on the contract chosen for work, the trader’s profits and losses will change. The pip value is always based on the quoted currency. To calculate the price of a point, you need to multiply the lot by a fraction of a point. Let's assume that we are working with 0.4 lots of the EUR/USD currency pair, it turns out that the cost of a pip will be 40000*0.0001=4 dollars.
Trading mechanism. How to trade Forex
The principle of working on Forex is in many ways similar to stock trading on the stock exchange. Let's assume that a trader on the EUR/USD chart notices a fall in the euro against the dollar. Of course, he does not waste time and immediately opens a shot (sell transaction) with a lot size of, say, 0.5, which is equal to 50,000 euros. This raises a completely logical question: what to do if there are not enough funds in the trader’s account to complete such an operation, where to get the missing amount?
In this case, a broker comes to the rescue. It is he who will provide the trader with the necessary material support and, within the framework of margin trading, provide him with leverage. To take advantage of this assistance, you must deposit a margin. Its size can be 100-500 times less than the total volume of the lot. So, for example, a leverage of 1:300 indicates that a trader needs an amount 300 times less than the declared amount to buy or sell 50,000 monetary units. From this example, it turns out that the margin of such a transaction will be 50,000/300=167 monetary units. Collateral is a kind of guarantee of trader solvency.
Continuing this example, let's imagine that we have $200 in our account.
The initial transaction data is as follows:
- leverage – 1:300;
- currency pair EUR/USD;
- lot size – 0.5 (50,000 euros).
We open a short position at 1.2723, which means that we sold 50 thousand euros at a rate of 1.2723 per unit. To make a profit, we need to purchase the same amount, but at a lower price. To complete such a transaction, the broker is ready to allocate 50,000 * 1.2723 = 63,615 dollars. Taking into account the size of the “leverage”, it turns out that the margin size is 50,000/300*1.2723=212 dollars.
Let's simulate a situation in which the value of the euro fell after a certain time. We decide to close the deal. To do this, we need to do the opposite action - buy euros. Based on this, we give an order to the broker to purchase 50,000 euros at a rate of, let’s say, 1.2720. It turns out that for this you need to spend 50,000 * 1.2720 = 63,600 dollars. The broker keeps the amount of 50 thousand euros, returns your deposit in the form of 167 dollars, and you make a profit from this transaction in the amount of 63,615-63,600 = 15 dollars. As a result, your deposit increases by 15 USD. e. and is already 215 dollars.
Basic arsenal for successful trading
Many beginners are often concerned about the same question: “What knowledge and skills are needed in order to make a profit on Forex?”
Relatively recently, Forex trading was carried out exclusively by professional economists. But today anyone can try their luck on the stock exchange. However, no one guarantees that this enterprise will be profitable.
Life is all about risk management, not risk elimination (Walter Wriston)
To succeed in the foreign exchange market, you need to put together a puzzle of 4 components:
- luck;
- reliable broker;
- the right strategy;
- knowledge.
Trading keeps pace with financial risk. It is for this reason that professional market participants advise beginners to “get their teeth into” on demo accounts, and only then open real trading accounts. As a rule, all brokers provide their clients with the opportunity to try Forex on free practice accounts.
The trader’s success is largely influenced by the chosen trading method. Some people prefer to work in the middle of the day, some only accept night trading, and some trade only through scalping or focusing on the latest news from the economic world. Of course, the ideal option is a strategy based on an analysis of all aspects that affect exchange rate fluctuations.
Which broker to trust
Considering that the success of trading is largely determined by the chosen broker, it is important to find a company that has managed to establish itself as a reliable intermediary in the market.
You can trust your capital to the following companies:
- Alpari has been working on the market since 1998 and during this time has managed to earn an excellent reputation. The agency provides its clients with the opportunity to invest in PAMM accounts and provides immediate access to 51 currency pairs. Alpari's maximum leverage is 1:500. To gain experience, the broker has developed special cent accounts on which you can “get your hands on” with a couple of dollars in your pocket.
- Forex Club is a company that conquered the market back in 1997 and has not lost its high position to this day. With this broker you can trade not only a huge number of currency pairs, but also securities, precious metals, stock indices and even energy. The agency offers its clients effective training courses and books on online trading.
- FxPro is a broker that takes an honorable third place among the best and boldly boasts as many as 82% of positive reviews from clients. For 10 years, the company has been operating on the basis of licenses from such well-known international regulators as FSB, FCA and Cy SEC. The company has developed a special program called Super Trader, with which you can not only issue trading orders, but also create entire portfolios with investment strategies at your own discretion.
Strengths and weaknesses of the foreign exchange exchange
To make a final decision - to trade or not to trade Forex, you need to weigh the advantages and disadvantages of the foreign exchange market. The “advantages” of the exchange include:
- high liquidity of operations. Brokers offer traders a wide range of various instruments;
- 24/7 work;
- the ability to trade anywhere in the world. Using special programs (terminals), you can place bets at home, at work, in transport and even on vacation.
As for the “cons”, here you need to remember:
- high degree of financial risk. There are many more trading instruments on Forex than on the stock exchange, for example. In addition, the high liquidity of money leads to frequent changes in quotes, which makes it much more difficult to “catch” the desired entry point;
- continuity of work is both a plus and a minus at the same time, since traders have practically no time to rest between sessions;
- A large leverage is a definite plus of Forex, if you do not take into account the fact that in a matter of seconds you can lose a huge amount of money if you do not follow the rules of money management.
In general, it must be recognized that margin trading on Forex is a springboard for the broadest investment prospects. With only 1% of the total value of the lot in hand, you can start trading and receive very impressive profits, which are many times greater than the initial investment.
Who among you would not like to do what you love while lying on a sun lounger, sipping cocktails and looking at a tropical sunset? Who wouldn’t refuse to work for someone else’s uncle and start their own business, which brings in many times more money? Finally, who among you would not like to gain complete freedom and financial independence? Do you know what's most interesting? To achieve all this, you don't even have to leave your home. After all, if you are reading these lines, I can assume that you have a computer connected to the Internet. Well, besides this, you will need perseverance, hard work, patience and a bit of common sense.
But don't rush to rejoice. I must immediately disappoint you. The fact is that only 5% of all those who come to the Forex market achieve the above-described joys of life. The remaining 95% go back, having lost some less and some more (some even manage to lose their apartments on Forex). Moreover, this is data from well-known statistics, and the real figures are perhaps even steeper (perhaps only one out of a hundred traders who come to the foreign exchange market ultimately achieves stable earnings here).
So how do you understand how to determine whether this business is right for you specifically? Will you be able to enter that cherished 5% of successful traders who consistently make money on the Forex market? Or you shouldn’t waste time, much less money, and look for a more suitable and more promising occupation for yourself. I'll tell you a secret that there is a way. And this method is trading on.
Isn't it wise to scout out the area before starting to build a city on it? Identify all the advantages and disadvantages before thoroughly settling on it? Moreover, trading on a demo account is a pleasure absolutely free for you. At least all the serious Forex brokers that I know provide this service free of charge.
Trading on a demo account will only benefit you if you take it seriously. In other words, you should work (namely work) with a demo account in the same way as if you had real money on it. This means that you need to stick to your trading strategy and system. Just like in real trading, you need to keep a trader’s diary, recording in it all aspects of trading (from purely technical to psychological).
Take this as training and console yourself with the thought that what is difficult in training is easy in battle. Undoubtedly, you will have to spend some time on this training (no less than several months), but I assure you that this time will not be wasted. You will either gain invaluable experience by learning how to trade consistently and profitably, or you will realize that Forex is not for you. In the latter case, you will save a lot of money, which you can then invest in a business that is more suitable for you.
You can open a demo from any broker, or rather dealer, because trading services on the Forex market (in the form that is available to most) are provided by dealers, not brokers. But I would advise conducting real trading only through brokers accredited on official exchange platforms (in our country this is, for example, the Moscow Exchange).
To understand why I make this recommendation, I advise you to familiarize yourself with the main differences between these two types of trading intermediaries - brokers and dealers. After all, success in trading can be determined not only by your talent and level of knowledge, but, unfortunately, by how honest and conscientious your intermediary turns out to be.
Well, finally, to summarize the above, I will give an answer to the question posed in the title of the article. So, if you are interested in the trading process itself (and not just its result in the form of possible earnings) and if you were able to achieve stable results in trading on a demo account, then it definitely makes sense for you to start trading with real money.
Just don’t get involved with numerous dealing centers (all of which call themselves brokers), and don’t be lazy and open an account with a real broker. Having a limited amount of funds available, you are unlikely to be able to enter the real interbank FOREX market in this way (this requires amounts from several hundred thousand US dollars), but you will be able to trade currency futures on the same Moscow Exchange, for example.
Although futures trading has certain specifics, in general, it differs little from the already traditional trading through a Forex dealing center. The charts of currency futures are identical to the charts of similar currency pairs and they can also be bought (if there is a predicted increase) or sold (if there is a predicted decrease in quotes).
The only difference, perhaps, is that the choice of types of currency futures on the exchange is not as great as the choice of currency pairs at dealers. However, this is not a problem at all, since for serious work, a trader in any case usually concentrates his attention on only a few of them (and not rarely on one currency pair at all).
Although there is, of course, one more difference and it lies in the amount of leverage. If dealers allow their clients to trade with huge leverage, sometimes increasing the volume of their positions by 500 or even 1000 times, then the broker will not give you leverage exceeding 1 to 10. And this is a huge plus of the broker!
Why plus? And because by doing this (limiting the amount of leverage), he thereby significantly reduces the risks of his clients. A broker, unlike a dealer, does not earn his money from the leaked deposits of his clients. He is truly interested in his clients trading for a long time and, if possible, profitably. Therefore, it is not at all profitable for him to expose his clients’ trading accounts to excessive risk.
Forex dealers, on the contrary, although they all insist that their earnings consist of the spread, and therefore they are supposedly also interested in a stable earning client, in fact, they make the main profit from leaked deposits.
Therefore, they are always interested in a constant influx of new clients (compare their aggressive advertising with the relatively modest advertising of official stock brokers). After all, not every trader who has lost his deposit will again fall back on the same rake and continue trading through one of the dealing centers.
Good afternoon. Can you tell us about Forex? What is this, is it worth contacting? If possible, very simple and clear. Thank you.
Rafael Egamberdiev
Forex is a vague concept. I’ll tell you about three options: forex trading, independent trading on the stock exchange and trust management in forex.
Artem Kuroptev
private investor
Option 1
Trade yourself through Forex trading
Many companies offer so-called Forex trading to ordinary people. An account with such companies will be opened in half an hour. Usually it is in dollars and is replenished at the current rate, either from a bank card or from a terminal in a nearby store.
Forex trading is not a financial market, but a game for money. You always play against one player - your own Forex company. The rules of the game are similar to those in global financial markets: you bet on the rise or fall of currency pairs or commodity prices. If your prediction comes true, you earn money. If it doesn't come true, you lose.
The rules of the game in forex trading are designed in such a way that you can lose very quickly without outside help. But the most unscrupulous Forex companies do not wait for you to lose on your own, and actively help you: knowing that you bet on a rise, they can provoke a decline.
Clients of Forex companies are amateurs who are often too lazy to learn the rules of the game. The company itself is a professional who plays against you, sets the rules and keeps score of the game. Your loss is the company's gain.
Forex is a game of chance with cheaters
If you saw a banner with a single mother who sits at home and earns 3,000 euros a month on Forex, and you want to try it, try it. Choose a Forex company that has been on the market for at least ten years - this will reduce the likelihood of the company escaping with clients’ money. Just don’t bring a lot of money into your account; $200 is enough to start with. Most likely, you will lose them. But you will learn.
Look video about forex companies and don't forget to turn on Russian subtitles.
Option 2
Trade on the stock exchange yourself
Trading on the stock exchange can only be done through a brokerage company. This is already a real financial market with currency pairs and special instruments such as futures. You will have an account and a broker. The account will be opened in a week, you can top it up or withdraw money only through bank transfers.
Speaking in gaming terms, the exchange does not play against you, but only keeps score of the game. Your broker is an intermediary who benefits from you winning. The broker and the exchange work on a commission basis. If you lose money and leave, they will stop making money. This does not mean that it is easier to make money on the stock exchange. But this is a slightly fairer sport.
![](https://i2.wp.com/img-cdn.tinkoffjournal.ru/broker-200.png)
Option 3
Transfer money to management to make money on Forex
There are people and companies that offer to give them money under the promise of huge earnings from the results of Forex trading. This is a scam and there is nothing to discuss. Stay away from them.
What to do?
I would advise getting acquainted with the financial market through trading on the stock exchange with a broker. It’s better to start not with currency pairs and futures, but with the purchase of securities without leverage. Forex trading outside the exchange is more of a betting pool for people with extra money than a financial instrument.
An appeal from the editor-in-chief to all press secretaries of all forex brokers in Russia, the Cayman Islands, Seychelles, Burma, Cyprus and other offshore companies who were offended by this article
Dear friends, don't be offended. I know that it is difficult to build a reputation as an honest Forex company in your market. There are swindlers all around, investors do not get out of their ships, and the spray reaches you.
I understand your pain.
But we have a duty to our readers: to protect them from financial adventures. And while some of your colleagues have the “Enable volatility” button, we cannot recommend forex.
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