top of page

Frequently Asked Questions

 01  What is Forex?

 

Foreign exchange is the acronym for Forex, it is an international market with no centralised exchange.  It allows retail traders to trade over the counter (OTC) electronically using a computer with other retail traders around the world.  Bank for International settlements reports that the forex market trades in excess of U.S. $4.9 trillion per day.  Now that's a lot of money swapping hands daily!

 

 

 

 02  Do I need any previous experience for Forex Trading?

​

You do not necessarily need previous experience in the trading field, however, what is important is to learn to crawl before you walk! Trading Education is the key to protecting your capital and the only way forward to succeed so early in your trading career.

 

 

 

 03  Is Forex a scam?

​

Most definitely NOT! It is mostly new and inexperienced losing traders who make this assumption, whilst a majority of the time the issue is the lack of knowledge of the market and inappropriate risk management that lead to huge losses. However, just like with any trade/business there is always a risk but thankfully the brokers (through whom we execute our trades) are now regulated by each country's Financial regulatory firm. If your broker is regulated and not a bucket-shop then you should be pretty safe, provided you educate yourself before trading live markets. 

 

 

 

 04  Why do 90-95% traders lose a majority of the capital?

 

Most importantly, NO MONEY/RISK MANAGEMENT! If you are over-leveraged and use no stop loss strategy then consider yourself a poor person pretty quick. This along with no proper trading education leads to premature margin calls and the end of a trading career before it even started.  Inevitably, the emphasis lies with proper trading education and experience.

 

 

 

 05  What do I need to start trading Forex?

​

Patience, Education and plenty of experience. There are no shortcuts in this business so prepare to learn and sit at the computer to experience the price action.

 

Have any more questions not found on this page, contact us at our Customer Service centre or drop us a message and we will endeavour to reply soon. 

 

bottom of page