Splitting Pennies: Understanding Forex by Joseph James Gelet

Author:Joseph James Gelet [Gelet, Joseph James]
Language: eng
Format: azw3
Published: 2016-03-09T05:00:00+00:00

According to the Wall St. Journal, 6 in 10 retail Forex traders are losing[lxiii]. Even though it is an improvement from 9 out of 10, it is still a staggering number. Some of these ‘losses’ are significant. But what is causing these losses? Is it just because Forex is so complicated, and so misunderstood? Partly, but also it is because these brokers play games with clients in order to make more money for themselves. Just as clients have a front end strategy to make money in Forex, whatever it may be, the brokers have a back end strategy to make money from clients. The fact that “Forex” is in between the client and the broker is completely irrelevant. It’s technically speaking, no different than book keeping, spread betting. This is an unfortunate state of affairs, particularly for the client.

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