forex trading?

India
June 19, 2011 5:19pm CST
What are the risk of trading currency with Forex trading? I live in China, but wants to try trading currency with Forex. One of the operator asked me to send the money across to them in USA and start trading in minutes time. I don't know much about currency trading but they said they will offer me a course to get me started. Do I engage in this business?
5 responses
• India
20 Jun 11
Personally I would say that if you are investor and dont have adequate knowledge in this field than you should avoid it. Its better to learn some tips and tricks of this trade as it requires knowledge plus experience. ONe have to know the good knowledge what is happening in economies around the world. Apart you should must have large capital with few to invest. This way you can able to bounce back. There are many free platform where you can first learn. Metatrader is good virtual platform. Apart marketiva and even etoro provides you realtime virtual platform for practices. Before investing just do the background research on the company about its authenticity as there are more scammers than genuine one. good luck
@de_toya (2429)
• Indonesia
20 Jun 11
Do you understand about Forex trading? If you are new in this business, it's better for you to learn it first. You should practice for at least six months before you trading the real money. Trading in Forex may make you rich but it may make you lose. If you don't have any skill, trading in Forex may just like gambling. When you are lucky, you win but sometimes you will lose. One of the good place to learn Forex is: http://www.babypips.com/ and One of Forex Broker you may join is Marketiva (marketiva.com). At Marketiva, you will get $1000 virtual money and $5 real money. You can use virtual money as practice and when you are ready, you can use real money to trade.
@sunita64 (6469)
• India
20 Jun 11
Even I want to do forex trading and sent 5$ to a site which they said that after 100 days will become 10$ but after sending money, I was unable to even open their site. So I am very afraid of sending money in the name of forex trading.
@greenline (14838)
• Canada
20 Jun 11
Forex market is a very complex and risky market. One needs to study the market and the trends in the market before joining and investing in them. I have been thinking about it too. And, I know that I should read the fine lines thoroughly first before investing.
• Indonesia
20 Jun 11
It is a very risky business. A few of my friend tried it ( not via online though, but the real thing ) and failed miserably, they losses about $2000 in a year ( although some time they gain, but mostly they are lost ) . If you don't know what you are doing and don't have any training ( my friend actually got some training ) then you better avoid it. Although a few of my friend who are trying still lucky, but it because they have a big capital at first, so if they are loosing, they can bounce back and get back what they are loosing. If you have little money, then if you failed once, it will be hard to revive yourself.