Is forex reliable?

[John Green]

Yes Forex is surely reliable if you believe in yourself and you have the skills to deal with the market but don’t ever forget the volatility of the market. Forex is not matter of good luck is more about how much time are you willing to spend learning and studying forex (mfxcenter is one of the best platform for learning about forex) and how committed you are. I also think Forex is not for everyone so if you get to realize that when demoing don’t hesitate on quitting before losing everything.

 

[jampet]

forex is reliable only when you are decipline, forex is not for all

 

[Zalea]

Obviously, Forex trade is a very reliable business but not for everybody. If the trader has the proper trading skills and knowledge then Forex becomes a good and compatible source of income for them and it can also alteration the living standard. Nope, it's not reliable. Eventually, you will miss out on everything in FOREX.

 

[Phiwe]

Unless you really know what you are doing and you can profit consistently forex is not a reliable source of income. In fact, according to official regulator statistics about 63% of traders lose money.

True but that's how it goes with everything you can't expect not to lose at all, that calculated percentage are people who quit.... anything requires hard work and determination before the success

 

[joyaxiam]

There are a lot of scammers in forex, starting from forex brokers! I was scammed by a broker (an Asian broker) tens of thousands for just one single night! The claim made by my broker was because of the GBPUSD flash crash happened just second past 10:00 p.m (GMT) in Oct. 2017. It said the GU spread had widenly so big, that my equity was not enough so they have to close my long trade at lowest low in decades, hence wiped off my account completely. The next morning when I logged back into my account, it was horror to see my balance became negative in thousands!

In addition, at the same time I had another broker (European broker) account also traded with GBPUSD with bigger lots, my balance was fully intact. When I found out why my other broker's account did not experience the same fate, i was told this particular broker they have the practice to close all their clients account automatically at beginning of 10:00 pm (GMT) for a few seconds up to a min. to adjust overnight swaps. So I was extremely lucky and so grateful for this broker that my account was protected because of their consideration for their clients.

 

[Charles Agustin]

Forex trading is easy but making profit is hard. Trader need to select of proper time frame to identify potential trade. Choosing a lower time frame is another important reason why people lose money. You may have the best trading opportunity, but don't focus on low time frames. Trading at low time frame is a bit riskier as price volatility is very large. As trading with Eurotrader, I always focus on higher time frame like H4.

 

[Dosoro]

Forex is reliable but if you belive and dedicate your efforts there it pays