What are the biggest reasons of losing Money in forex - page 15
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The biggest reason is lack of COMMON SENSE; it’s the percentage that is only going higher from human, as people are trying to become so SMART that they are leaving COMMON SENSE behind. In a business like Forex, it is the biggest thing that hurts them whether it comes in for broker selection or way we work. We simply need to go with simple and straight forward way instead of complicating it which results in losses only.
One of the most popular offshore jurisdictions are Belize, Mauritius, Saint Vincent and the Grenadines, Marshall Islands, British Virgin Islands, Cayman Islands, the Seychelles, Dominica and Vanuatu. Because of their lax regulation and much looser conditions for issuing a license, there are significant risks related to trading with brokers licensed by them, if they’re even licensed.
That is not to say that all offshore brokers are fraudulent – I am far from that thought. But a significant number of scammers flock to these places exactly because of the looser regulation and give a bad name to everyone else.
Another example of risk in investment – trading with offshore brokers. Offshore destinations are famous for its light touch regulation, if any. They are attractive locations to forex and binary options brokers, as it is relatively easy and cost-effective for startups to register and run a brokerage business. Besides, offshore zones are generally known for their lax regulation and non-existent corporate taxes.
One of the most popular offshore jurisdictions are Belize, Mauritius, Saint Vincent and the Grenadines, Marshall Islands, British Virgin Islands, Cayman Islands, the Seychelles, Dominica and Vanuatu. Because of their lax regulation and much looser conditions for issuing a license, there are significant risks related to trading with brokers licensed by them, if they’re even licensed.
That is not to say that all offshore brokers are fraudulent – I am far from that thought. But a significant number of scammers flock to these places exactly because of the looser regulation and give a bad name to everyone else.
You’re welcome.
Another example of scammer brokers preying on vulnerable people – according to a FCA survey, UK's senior citizens, or the people above 55 years of age, to be more precise, have lost an average of £32,000 in 2016 to various financial investment scams, shows a survey of UK's Financial Conduct Authority, published as part of its Scam Smart campaign.
The older people are the main target of the scammers, as they are more likely to have money to invest and are less likely to discuss their investment decisions. Hence, the con artists employ the simple tactic of making them a “limited time deal”. That, however, is not the only tactic they use to scam people out of their money.
The main reason to lose in Forex Trading, is due to the lack of the knowledge and experience and skills.
This is correct and also many of the reasons describe above plus to add - learning to trade on wrong way since of the beginning. :)