In recent years we have seen more and more EA’s (expert advisors) with extraordinary historical performance, being listed for sale. Several thousand percents return in profit isn’t unusual, and a price tag of $1,000 or more is seemingly the new normal.
To a layperson, this might seem ludicrous because;
Everyone knows that high return equals high risk and who would pay top dollar for a high-risk strategy; and even with a high-risk strategy, 1,000% return or more, in a short period, smells like a scam!
There is however, one key aspect here, which changes everything; proof of historical performance, via MyFxBook. This is one of the most trusted [...]
There is seemingly no end to the massive amount of scams and scandals in the forex trading space. There are lots and lots of exposed scams out there, and probably more that are yet to be discovered. In this post, I have highlighted three forex trading signal services that had disastrous endings. Here goes;Henry Liu – 10K to 1MM
Henry Liu has been involved with the commercial side of retails trading for many years. I cannot remember exactly when I heard about him for the first time, but it is several years ago. At first he used to run a site named something along the lines of FX News Wiz, where he sold forex signals. As far as I remember, this was the first time where [...]
Forex trading is immensely popular with online access enabling people to trade from anywhere in the world and make a substantial amount of money from a very small account. The foreign exchange market works whereby traders buy and sell different currencies based on whether they think the currency will increase or decrease in value. It is a high-risk business and sees over $5 trillion dollars traded each day.
In order to execute a transaction, traders have to go through an intermediary known as a broker. Irrespective of the profits or losses experienced by individual traders, brokers have to make money and they do this by charging commissions and fees, some of which are hidden. [...]
Foreign exchange is the place where the international currencies are traded. Currencies are very important for everyone around the world as currencies are required to be exchanged if you want to do any international trade or business. If you are staying in London and want to buy an electronic item from U.S. you have to pay in dollars to get the deal done. For the transaction to be done you need to exchange GBP into Dollars which will be equivalent amount of it.Forex market
The need to exchange currencies is the main reason why the Foreign exchange market is the largest in the world. That is why it is the most liquid market in the financial world. It dwarfs the other markets [...]
Last month the well known broker ThinkForex was giving away Apple products, when you opened and funded a new account with them. This month they continue the battle for new clients, by offering free a free VPS when you open and fund a new account with them.
If you plan on using one of the many EA´s out there, getting a new account with ThinkForex might not be such a bad idea. They have good reviews, fair rates, and if you plan on using an EA, you need a VPS – Why not get it free of charge?
All you need to do is open a new account with ThinkForex; make a deposit and send them an email to claim your free VPS. This will be free of charge for the first 60 days without any [...]
Thinking that trading equals to gambling is the most certain way to lose all your money. If you just try to select currency pairs “by luck” and hope for the best you just won’t make it.
The trading education is the first vital step you need to take if you want to achieve success in forex trading. It’s much better to invest time and money into a good forex trading course rather than losing a lot more learning by the error and trial method.What Is A Good Forex Trading Course?
There are thousands of books, DVD packages, seminars, “home study” programs and e-courses promising you to help in achieving great trading success. As usual in [...]