In recent years we have seen an explosion in the popularity of Forex trading and cryptocurrency trading, unfortunately however this has also meant there has been a big increase in Forex trading scams with fraudsters taking advantage of those who are new to the platform.
Social Media’s Influence On Forex Trading
One of the main reasons for the popularity of Forex trading is down to the promotion it has got on social media with influencers pushing it as an easy way to make money to your average person. You’ll frequently see pictures of Ferrari’s, mansions and private jets with captions saying “earn millions of pounds a year”, of course these people haven’t earned any money from it and are just trying to sell some kind of eBook supposedly promoting their ‘method’ in order to be successful from it. As with all things in life, the only sure way to success is to work hard, understand it thoroughly, start off small and gradually increase. The problem with Forex though is that even if you fully understand it, it is still a gamble. Nobody knows for sure what is going to happen in world markets or when a new war could break out which can affect currency prices massively.
What Is Forex Trading?
Forex trading is summed up easiest by saying you’re betting on whether certain currencies are going to go up or down. It is attractive in the same way that the stock market is in that anyone can do it … Read the rest
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