Category Archives: benefits and risks

Currency Trading Scams-Preventable?

Currency Trading Scams-Preventable?




Currency Trading Scams

Have you been giving serious consideration to investing in the Foreign Currency trading market? If you have, there are many situations ahead of you which need much thought.

Trading Scams

Keep in mind that in all areas of life, there are scams, folks are out there who have figured out how to cheat you and others out of their hard earned money.

How To Avoid Forex Scams

If you can not manage to lose money then do not get into the currency trading market. Do not use your retirement funds for Forex currency trading; that would be exceptionally silly and foolish.

FOREX Swindlers

Forex Currency trading tricksters typically bring in potential victims through ads in regional newspapers, radio and TV promotions or appealing Internet websites. These specific ads could advertise low-risk with very high-return financial investment chances in FOREX exchanging. They could even offer highly paid FOREX job opportunities. Be very doubtful when promoters of foreign currency trading claim that their assistance or account administration will make high profits with nominal dangers. Be wary if these tricksters declare that work as a Foreign currency trader will make you wealthy very quickly.

 
How to identify Forex scams in 5 steps

Once your cash is gone, it is always difficult to get it back. Be really cautious of a business that will ensure you a revenue. Forex currency trading that includes get rich quick schemes are generally swindles.

On Line Currency Trading

Be extremely careful of online trading, it can be difficult to obtain a refund but it is extremely simple for your funds to be moved. The web likewise can hide where a Forex trading or broker business hangs out.

The Web offers a very simple approach for scammers to connect with countless victims. Should move any cash to an off-shore location for trading, getting it returned might be hard.

You need to research the background of the broker you will be trading with. If you are not completely pleased or comfortable with the details you find, then simply do not deal with that particular broker. You should request all info be put in writing. It would not hurt to contact the Better Business Bureau, but do not rely on verbal information. Again, if not totally satisfied with the information, do not deal with that broker.

Interbank Transactions

In the Foreign Currency trading world, you might have heard the term ‘interbank’ transactions. It refers to a loose chain of Forex currency transactions that are bargained between financial organizations and other big companies.

Suppose these banks or financial institutions are the only ones trading in this interbank market. This can be an indication of an unethical trading business. Be careful of a financial institutions that suggests you ought to trade in their inter bank market.

Margin Trading

Trading on the margin allows you use less of your own money when trading. This can be financially dangerous. Margin trading is good if you are winning, but if are losing you will be responsible for losses that are higher than the dollar amount you transferred. Those dollar amounts, in fact, control a far bigger dollar quantity of trading.

Often the trader is unaware of the margin range put on by the broker which can be a series of $1,000 to as high as $5,000. Sometimes even higher. So, be sure to totally understand the rules of the broker when it comes margins and be ready to accept losses which may surpass the margin amounts anticipated.

Canadian “Core Retail Sales” and “Retail Sales” reports – chart history

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GBP/USD and the BREXIT effect

USD and Brexit

This coming week may be a little hard to second guess the currency markets, will other nations seek to exit the EU….

After the UK voted out, there is room for the downside on EUR/USD. Some see 1.05 and some see parity. What about the pound, the protagonist? Here are two more opinions from Deutsche Bank and Credit Agricole:

<https://www.forexcrunch.com/more-brexit-reactions/

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BREXIT and the affect on the AUD/USD currency pair

AUDUSD and Brexit

It will probably take some time for the markets sorts through the “BREXIT” even and how other EU nations will react….

The AUD/USD is pivoting around the 0.74 handle after the pair saw a massive decline (approximately 330 pips) on the backdrop of the “Brexit” decision. The sentiment linked Australian Dollar suffered while the safety linked US counterpart strengthened in the aftermath of the referendum,

https://www.dailyfx.com/forex/technical/article/cross-market_technical_update/2016/06/27/AUDUSD-In-Focus-as-We-Turn-to-Sentiment-Following-Brexit.html?DFXfeeds=forex:technical:article:cross-market_technical_update


Saudi Arabia and the OPEC meeting in June

oil output

June not being far enough away, and the Saudis hurting from the low price of oil, chances are there will be a freeze…..

Oil-producing nations will discuss an oil output freeze at OPEC’s meeting in June, a senior Saudi oil advisor said on Thursday, keeping open the prospect of action to boost prices despite the collapse of talks on a deal in Doha.

<http://www.marketpulse.com/20160421/senior-saudi-oil-advisor-says-new-oil-output-freeze-meeting-will-be-in-june/


Be aware, Central Banks will be meeting

central banks

Withe Central banks to decide how to handle the problems of their respective countries, currency trading could get tricky…..

Non-Farm payrolls printed with an aggressively bullish headline number of +242k jobs added to American payrolls, but the internals of the report weren’t all that great. Christopher Vecchio outlines this morning’s jobs report.

– The next two weeks bring markets three of the largest and most pivotal Central Banks with rate decisions, meetings and press conferences that can invoke volatility henceforth. We preview each of those meetings below.

https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2016/03/04/the-central-banks-are-coming.html?DFXfeeds=forex:fundamental:daily_briefing:session_briefing:daily_fundamentals


Are you a novice currency trader

novice trading costs

There is no doubt, without a good trading plan, anyone will lose over time….

There is no need to be a beginner to make mistakes while trading in the financial markets. As a fact, a lot of advanced players do errors, when their discipline is not under control, and intuition or feelings come into the game. So do not wonder what these professional traders have that you do not, as the answer is quite straightforward.

http://www.forexcrunch.com/5-mistakes-of-novice-trader/