is forex is legal legit way for make money?
By whitehowkz
@whitehowkz (106)
India
May 11, 2011 1:04am CST
i heard about forex nowadays is that best way to make money and also is it legal?
6 responses
@voorhess (4)
• Denmark
11 May 11
yeah it is a legit site just like e-toro
but still it is a high risk but you earn a lot of money
like i did in e-too i was lucky and earned abot 2000 dollars in 7 days
but if i had waited to sell my £ pounds just 1 more day i would have lost about 1400 dollars so it is one of the most risky legit markets just like a stock market
@jazzsue58 (2666)
•
11 May 11
I made a fiver in a month - the risk to my mental and physical health wasn't worth it!
@suzee48 (5)
•
13 May 11
yes this is totally legal I have much experience in forex and still earning money with out investing a single $ from my pocket.I am just join in forex forum and earn 50 to 100$ in a month and draw in forex account first week of the next month. so if you are interested join this site and earn extra money for forex.http://nigeria-forex.com/forum.php?referrerid=1190
@dark_joev (3034)
• United States
11 May 11
Yes it is completely legal it is a market like the Stock Market of sorts which is the trading of Currency around the world here is a great website www.forex.com this is a risky business you can make a lot of money but also lose the money as well currencies go up and down so you will have to pay attention to what is happening in the world and remember the rule when selling and buying stock buy low sell high as that is the thing you will want to do and well you will want to buy another currency when it is lower in US Dollars and then when that currency or should say if that currency goes to where it is higher than the US Dollar in value you would trade it back to the US Dollar or you native countries dollar and either get out of the market at that time or take the money you gained in US Dollars and invest in another Currency you think will out do the others based on what you are reading in trends.
Sorry if you aren't from the United States but you basically buy and sell foreign Currency and sell it back to get your currency for your native country when the foreign Currency you own is worth more than your home countries currency.
So it is completely legal and extremely high risk hence the high Return on Investment that is possible but of course at any moment during the 7 day week you could lose a ton of money in a single day if the currency you bought into crashes or loses value you lose money. Also the market is open only 5 days but anything at any time could cause a collapse once the market reopens depending on what happens.
@jazzsue58 (2666)
•
11 May 11
It's perfectly legal - though a bit of a gamble. There's a lot of money being made on the net by people specialising in helping small spenders speculate on the commodities market and forex. They make cash from it as they accumulate thousands of small amounts into one big investment. They use their knowledge to buy into futures, stop-loss orders etc.
look up all the "W's", forextrading dot com for a taste of what it's all about.