Ever hear the old saying: if something sounds too good to be true, it usually is? Well, perhaps no adage could better exemplify the Forex market than this. Small firms lure unsuspecting ‘customers’ with elaborate stories of 1000:1 returns and the glory of making a quick buck. And they’ve been doing it since the 70s!
Now, with the Internet, these schemers have a web to trap you with their ‘too-good-to-be-true’ tactics. All it takes is a window and about a million lines of the smallest font you’ve ever seen, followed by the question: do you accept the terms and conditions? We’ve all been there. Don’t pretend you read through every single article of fine print --  you don’t.
But this is how they (the manipulative, greedy Forex firms) get you! Once you hit accept, you’ve cleared them of all legal responsibility. Only – you also just trusted them a ton of money, didn’t you? What happens if something happens to that capital? Are they legally or fiscally responsible?
And the judges' answer – EEERR. Sorry, you’re out of luck. The firm’s lawyers will cite one little word: risk. It all comes down to risk. High reward equals high risk equals greater chance of you losing your hard earned pension, your rainy day fund, emptying out your entire bank account. Of course, you only remember the Trader telling you about the glories of the reward. (They tend to leave out the risk part. It’s just plain unsexy and doesn’t sell well.) So beware when choosing a trading platform! There’s no such thing as easy money or a quick buck. In life, fortune is earned – never bought.