Forex Trading: The Downside of the Forex Trading Market

Four years ago, when you asked people who were walking along Kuala Lumpur’s streets for hot afternoon snacks if they knew any information about forex trading, they would just give blank stares. Only those who are experts in investment and banking would be able understand your words, check my reference.

Fast forward to 2009, I discovered that most people know some forex trading. This is the case for most city residents. It’s all because of the internet. The internet has made currency trading more accessible than ever. This phenomenon isn’t limited to a few countries. It affects everyone. People from China, Russia and Africa have taken up forex trading through their computers.

Forex brokers want a piece, with increasing attention being paid each year to the forex markets. This has resulted to fierce competition which has seen the demand for an online Forex trading account plummet. You can get a forex account from major forex brokers for twenty dollars. Twenty American dollars equals to 68 Malaysian ringgit. Two steak meals can be purchased with this country’s 68-ringgit. You can buy forex accounts for as low as few dollars.

Forex trading is now easy for anyone with spare change, a computer, an internet connection, and the ability to trade. Scammers can be found anywhere there is potential business activity. They are never ones to be overlooked and always look for ways to exploit weaker, less fortunate, and more educated people. This seems to be the question that they ask everyone. Would you like to take a 3-day course on how to trade currency currencies daily for $1000 USD, which will cost you $1000 USD each?

They pick hotels that allow them to pitch their products. I can confirm that I have been to these “seminars” at least thirty times and that most people didn’t understand what they were talking about. They were just trying to sell a product, which was undoubtedly repackaged. It was disappointing to discover that not all of the comments touched on forex trading. Instead, these were salespeople who created wealth by avoiding the topic of Forex trading. The courses are advertised online, in the newspaper and by word-of–mouth. How much is it? A 3-month course can cost as high as $6000 Ringgit