Foreign Exchange trading, or Forex, is the trading in international currencies. Is Forex a scam? The currency markets are a large and liquid market, attracting speculative short term traders. International currency markets are risky and reliant on rumors, world news, and politics. Foreign Exchange markets have been described as a zero sum game. There is a fixed supply of currency on the world markets and for one person to make money on a Foreign Exchange market trade, someone else must lose money. But that's still not all folks. There's more! After Forex Gump explains the tricks of the trade, you'll head over to the Sophomore part of the school, where Dr. Pipslow, an ancient and revered trader of currencies, will share his nuggets on everything you need to know about the psychology of trading.
Now, you have to be careful when opening a Forex account with any broker because some could be SCAM. The Commodity Futures Trading Commission (CFTC) in US has jurisdiction over all Futures and Forex activity. When trading in the foreign exchange markets, individuals should only trade with a CFTC registered entity that is also a member of the National Futures Association (NFA) and is regulated by the CFTC. For non-US broker/ bank entities, be sure that the broker or bank is registered with that country's appropriate regulatory bodies.
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