HOW SAFE IS FOREX TRADING?

HOW SAFE IS FOREX TRADING?

The Forex market is global and operates 24 hours a day, 5 days a week, and therefore no one manages or regulates it. Forex is not controlled by the Mexican CNBV or the US SEC. However, brokers that provide trading services on this market are licensed and controlled by the financial regulators of the countries in which they are registered.

Often advertisements for the services of forex brokers do not reveal all the risks that accompany currency trading.

For example:

Forex trading is conducted around the clock and you can earn money in your spare time.

Indeed, you can trade on Forex at any time and in any convenient place, but this does not mean that you can earn money at any time. It is very important to choose the moment of opening and closing a transaction, and for this you will have to study the charts of exchange rates, follow the news and wait for the best moment to buy and sell a currency pair. It is not necessary that this moment will be at the same time when you have free time. If you really want to earn a lot on forex, you need to make it your profession.