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This is a community for forex traders from all backrounds and trading experience. Everything about forex, share your thoughts and experience; and be friendly to your fellow forex traders.
Welcome to FXGears.com's Reddit Forex Trading Community! Here you can converse about trading ideas, strategies, trading psychology, and nearly everything in between! ---- We also have one of the largest forex chatrooms online! ---- /Forex is the official subreddit of FXGears.com, a trading forum run by professional traders. FXGears.com hosts and moderates our chatroom, and has developed such tools as the chart bot you'll find available in chat.
Okay so i really wanted to get into Forex Trading but the problem is that I saw a SEC advisory that announced that Forex Trading is illegal. However, there are foreign brokers from outside the country that are regulated and approved by the BSP. This lead me to believe that the SEC only released this statement because a lot of people were scammed by fake brokers and companies. Furthermore, there is still a lot of Forex Traders in the Philippines and there hasnt been an incident of a day trader being arrested. I really wanted to get into Forex Trading but im scared that i might be imprisoned.
HSFT (High Street Forex Trading): Make weekly profits and receive payouts
Hi all, So I've just decided to start my own trading group where I'll be majorly trading forex and share weekly profits. I've been into trading since 2016 and making pretty consistent gains. I'm doing 3-5% a week on average. I've started a social group where I'll be taking deposits (every sunday), trade them and share weekly payouts (every Friday). It's all going to be a fair game, no scam, no foul play. Come join me here: https://t.me/joinchat/RKeQzxrfwdVc46VbkoKSqg
Gainsky scam: Do you think forex trading is illegal? Why do people keep doing it?
I am very curious about forex trading and all that investment things but I am not familiar with it. I want to start trading but I have read some stuff saying that forex trading is illegal. Is it true? Or have I read the wrong thing? I think that these legalities depend on which country you are in. But in general is trading forex allowed globally? What are the restrictions that come with this type of trading? Also, there are different forex trading platforms being introduced and it’s quite difficult to pinpoint which one is legitimate and which one is a scam. I’m planning to actually invest in one but I’m not sure which one to choose. I found one called Gainsky, but I wanna make sure that the company is legitimate and doesn’t do illegal stuff (if forex trading is illegal). I checked the system and they offer really competitive strategies that I think are really good. They offer some kind of teams where you join them and follow their strategy? This I’m not sure, but that’s why I'm asking your help guys here. Have you heard of this company? Any reviews you’d like to share? Please help a fella out! Thanks!
Okay so i really wanted to get into Forex Trading but the problem is that I saw a SEC advisory that announced that Forex Trading is illegal. However, there are online brokers from outside the country that are regulated and approved by the BSP. This lead me to believe that the SEC only released this statement because a lot of people are scammed by fake brokers and companies. Furthermore, there are still a lot of Forex Traders in the Philippines and there hasnt been an incident of a day trader being arrested. I really wanted to get into Forex Day Trading but im scared that i might be imprisoned.
Hello Guys! I have been thinking of taking forex classes, I’ve been interested with it for such a long time and only now have I considered and really thought it through. So I looked around and saw Leo Advantage which offers classes around 40k. I wanted to ask the following.
Has anyone been a member of the org and actually tried trading using their system?
Anybody here reached Level 2 or 3 and been profitable?
It seems like a TP to SL ratio of 1:5 is very difficult to recover from. Hope you guys can give your two cents about this! And if you know other teachers who are effective, please feel free to reco. Thank you!
Has anyone got experience in using Forex Trading Robots? I had been wondering whether automated computer software could be used to make a small passive income by exchanging currencies and taking advantage of the small peaks and troughs in exchange rates. A quick google showed these robots but based on the limited number of articles on them I presume like a lot of investments the risk outweighs the reward?
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Looking for a good broker for options (for US based stocks) and forex trading. French tax resident
Hi guys, would be grateful for any insight about options and forex trading brokers present for French tax residents as such. Plan to start with an outlay of about 10k EUR and want to invest in US based stocks primarily. Would also be grateful if you might know of any platforms that provide demo accounts for options trading here as well.
Does forex trading actually make any money or is it just a discreet pyramid scheme?
Seems like every forex trader is trying to sell their knowledge on to everyone they can. Makes me think it’s really just a scam. Any forex traders that can give an insite?
Good evening everyone, Before the story commences, I am unsure if posting it on this subreddit will be of any help, but I do have a certain faith in the overall Reddit community. About two weeks ago my mother informed me about a conversation she was having with a real friend of hers. They were talking about investing money in something (it was quite vague and unspecified). So naturally I asked some questions; 'What are you investing in? What is the company name?'. It turned out to be a investment in Bitcoin through a company by the name of MTI. Mirror Trading International. Then of course I did some digging, made myself more familiar with how cryptocurrency works and what the processes behind it entail. The search results of MTI show multiple links to news articles disputing the legitimacy of MTI. My mother joined a Zoom call with the friend from before and some others that already partook in this movement. There they asked questions and answered questions about MTI and how it works. MTI claims this: " You too can start to benefit from this marvellous opportunity. Remember, your trading pool balance will fluctuate with the changing Bitcoin price, but your Bitcoin WILL be growing, and when the price of Bitcoin rises, you will be perfectly placed to take full advantage thereof. " Seemingly you invest money in bitcoins and the money of all the investors is gathered in a forex trading pool. Every day investors are able to see the trades in the pool (made my an AI trading bot). Without doing anything you can passively build or grow your balance. I honestly think the revenue that comes back to investors are the funds provided by new members (like in a Ponzi scheme). The returns they promise are way too optimistic to be genuine. The CEO of the company has participated in other fraudulent activities like the Kipi scam. Somehow I tried talking to the people from the Zoom call my mother attended, explaining why I do not trust the company and its intentions. Sadly, all falls on deaf ears and they are unconditionally sure about the legitimacy of MTI. My question: What are your regards on this topic and on MTI? How should I convince those involved that this is not a risk worth taking. It makes me worry more than I want to. Thank you for your time in advance!
My current Forex trading plan and results, what you traders think?
Chart Indicators: A. ATR(14) B. Baseline Indicator: Ichimoku[baseline] C. Volume Indicator: WAE_Ext D. Confirmation Indicator #1: EMA(20) E. Confirmation Indicator #2: WAE_Ext F. Exit Indicator: Price action -- Find, trade, and exit buy\sell position plan: Check FXTT Scanner[MT4:M30] verify with 2nd Conformation Forex Scanner[TradingView] check MarketMilk status if buy\sell position found make buy\sell trade[MT4] monitor buy\sell position(s) for exit on Tradingview[Heikin Ashi Chart: M15]. my current trading results using the above trading plan 10/05/20 week before 09/24/20
Hi everyone, I am a complete beginner to Forex trading (and to this sub) so I'm curious to get your thoughts on what's the best Forex trading platform in the UK and what resources I should do to improve my trading?
Should I invest in this company to learn forex trading?
Recently one of my friends that is equally into trading gave me a link for this company he has been practing with. Before I heard about this company I just liked picking his brain and having a back and fourth with him about what to do next etc etc. But I'm getting some bad vibes, ok so the company was just formed right? So I understand if they are a little new and don't have everything figured out. But certain things are seriously freaking me out.
YOU HAVE TO have a referral from someone you know, this is weird because they give you money the more people you refer, so if this is how they are making their money 1 sounds like an MLM, when will they stop focusing on trading and instead just focus on what their business is about? (This could be legit but I am very careful when it comes to MLM)
When speaking to the presenter, they never asked if anyone wanted to ask questions with a Q and A and just left a few of my questions unaswnered even though her presentation was all about how they answer questions and their course is awesome because its interactive…. so… that's a little sus.
They are offering trips to Mexico and things like this, which I actually like but I am also a little werieded out by, I feel like they might be using this as a crazy tactic.
So its only 20$ which isn't that much, however they don't accept things like PayPal or Venmo so they would have my actual information if I sign up for them, now is 20$ worth giving them this? What can they actually do with it… also is 20$ worth the knowledge they are going to give me? hmmm…..
What do you guys think about this? Have any of you actually been successful in not getting formal training?
I’ve been trading stocks here and there by using tips that I’ve learned off of countless hours of internet research and YouTube videos. My friend got interested in Forex trading because his friend said he made $1k in a day. I don’t believe in buying courses and I’ve told him that but he’s getting convinced on this because his friend bought a $300 course and uses some Forex program and ended up making that $1k a day. We are all 20 so $1k makes our mouths water, but my friend has absolutely no experience in any sort of trading. I know that most trading gurus make a lot, if not most, of their income from selling information so I don’t buy the idea that paying for a course will somehow have an impact on your trading abilities. I decided to join this Forex subreddit to see what any of your thoughts are. I’m pretty new to Forex as well so I’ll be sticking around just to learn. tldr; my friend wants to buy a course to learn Forex but I don’t think it’s a good idea because all the info is free on the internet. Thoughts?
Hey all, So this didn’t pop up in the search thread and I wanted to get more input on it. I’ve got a buddy who’s balls deep in a Forex (Foreign Currency Exchange) pyramid scheme called “MMO” (Money Moves Only). These guys have justified it NOT being a scheme because there is a “dual income” opportunity. I’ll explain: - First you show up to the cult initiation and give them $250 USD to start investing as well as a monthly fee to have access to “the software”.
Once you’re “investing”, you can recruit people. This should be the dead fucking giveaway that it’s a scheme but my friend doesn’t think so because of the next reason.
Once you’ve recruited 2 people, your membership fee is waived. At this point, you can begin to get paid to recruit people as well as getting paid of reinvesting whatever you’ve made off the Forex trading.
So that’s why it apparently isn’t a scheme - because you get paid by the company to recruit and are freely investing your own money. Now, in my buddies defense, he has made some decent cash (around 30k). He’s recruited over 1000 people and is “chairman of his region”. I know the top top top % of pyramid schemes actually do make some money, but it doesn’t dismiss the unethical model of the whole thing and the dick heads that support it. If you all know anymore about this or similar Forex trading schemes, comment below! I’m trying to help him cut and run with the money and actually start investing in longer term, more stable markets. He’s got a fucking engineering degree too so I’m trying to get him to use that shit. —— TLDR: Foreign Currency Exchange schemes, have you ever heard about them? If so, what do you know about them and have you heard of MMO?
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