It is the reality that when someone faces failure, again and again, he declares that the source of work is a scam and waste. Especially in the trading market, if a trader fails to become successful in achieving profit, he stops others to trade with that platform.
Similarly, in the forex market, many traders or newcomers want to know the reality of the forex market. Is it rigged or not? Can you make money from this trading platform? Let me explain it in an easy way!
In reality, the forex market is not rigged. It is a completely fair and trusty platform for traders who want to earn money in a better way. It seems us rigged because we don’t follow trading rules and strategies properly. It is the broker that cheats on you and makes your trades unprofitable.
The forex trading market is an authorized platform just like commodities and stocks. For many traders, forex trading is just like a jackpot. They earn a big profit in a few days. In the same way, there is a group of some traders who can’t earn even a single penny and lost their capital.
It happens to those who don’t have proper knowledge about it. This post will help you to move forward successfully. Let’s try to explore more information.
Are Forex Markets Rigged
Before trading with the forex market, many traders or investors think that the forex market is distorted and scam. As soon as you get into this trading platform, you realize that it is not rigged. Why do you feel it is fraud?
Simply, you have been trading for many years but gain nothing as a profit. No doubt you have applied all trading plans and indicators but all in vain. That’s why many traders give negative reviews about forex and advise you to stop wasting time on this platform and do something else.
What is the reality? The truth is that the forex market is not rigged. You can find a number of traders who earn a lot of money through this market just by following some easy trading tricks. If they can achieve the success you may also.
There is only a need for the right broker and the right guideline. Figure out the right trading strategy and see positive results. You can prove it trusty by yourself if you know the exact entry and exit points.
Forex Market Is Not Rigged(Proof)
“Forex market is a scam” this news is spread by those traders who face failure again and again and place many unprofitable trades. Don’t believe such disappointed traders. Just try to find out the proof that may satisfy you.
Remember that if the market goes down it also means that it will go up. We can prove it fair regardless of losses. Take at least 100 trades without any decision or plan. Buy and sell these trades at the same time with risk management. Soon you will come to know that your risk and reward ratio is 50/50%.
The loss may occur in trades because there are spreads, commissions, and broker fees included in it. The forex market itself doesn’t take any charges. All the commissions and fees are charged by a broker that is not very high.
This is how we can say that the forex market is not rigged and is completely fair.
Why Forex Market Looks Like Rigged
Keep in mind that the forex market is not as easy as you think. If you entered this market with the thought of becoming rich in a night, this platform is not for you. It requires your effort and time. Many traders feel it is rigged and fake because 80 to 90 percent of traders become fail due to this thought.
They don’t tolerant and so lose their investment. So, they say that the forex market looks rigged against them. All this happens because of your wrong trading strategies and decisions. Before declaring it rigged, you have to look out for your trading strategies. Are they profitable? Have you fully trained to start your trading career with confidence?
If you find all the answers to your questions, it means the forex market stops looking at you rigged. You can get all the basic information through different websites.
When Forex Market Goes Against Us
It is true that the forex market goes against you. This situation may occur sometimes but it happens to those traders who don’t follow the trading rules and apply the wrong trading strategies. Actually, it is not the market that manipulates you or goes against your trades. These are brokers that you select to trade the forex market.
There are many unregulated and unauthorized brokers, who cheat their clients and trade against them. They can do that easily because you are trading through these brokers instead of the actual market. That’s why we, again and again, advise you to be careful while choosing a broker.
The brokers know the psychology of their clients and realize that most of the traders may lose their money. So there is a big chance to win a big profit. That’s why they make trades against you and turn the market in their own favor.
Can you trust the forex market?
The forex market is an authorized trading platform that deals with different currencies of the world. There is no fraud or scam. It is totally trustworthy market. It is difficult to trade online by using different currencies without a forex market.
Is forex a gamble?
If we talk from a business point of view, it may be gambling to trade with the forex market. It is not a type of gambling that is played in clubs or casinos. In forex trading, you have to invest instead of betting. You have to play with currencies.
Is there market manipulation in the forex trading market?
Yes, there is manipulation in the forex market. As soon as the supply reaches the market price. The market price goes backward and falls down so quickly that the trades of small retail traders break out to the downside. This condition is called market manipulation.
Hopefully, you will be able to find the answer to your question about Is the forex rigged?
Finally, it is clear from the above discussion that the forex market is not rigged.
If you are continuously losing your trades it doesn’t mean you start declaring forex as a scam. It happens because of your own faults and wrong trading plans. It is right to say that the forex market is just looking at yourself in the mirror.
You need proper knowledge and information about the market and its movement. This is the way to make your thought about the forex market scam wrong.
So, make yourself strong to face failure and make your trading plans more attractive and effective. Remember that it is not the market that manipulates you but actually your brokers do that. So select them carefully.