There’s lots of money in the forex market and lots of competition between forex brokers. Some of these brokers try to get customers by presenting forex trading as a game. I find this quite problematic.
Barack Obama on one side of the ring. Queen Elizabeth on the other. Just make your bet on the boxing ring / forex market. I picked Obama and he won of course. The ad showed me that the dollar gained against the Pound and that I instantly made $1122 dollars. I just need to fill a small form and the money is mine…..but wait…
This was of course an advertisement to a forex broker. Nobody makes money instantly. After registering, the people that fill the form will need to open an account, deposit money, and usually trade in a specific volume before getting this bonus that was promised in the ad.
In many cases, the trade volume that these traders need to make causes them to burn out their account. The bonus that the ad promised them never reaches their hands. I won’t mention the broker behind this ad, but I’m sure that some of you know what I’m talking about.
Even if this is totally legal, I find these advertising methods quite problematic. Presenting forex trading as a game in which you instantly win money by placing a bet on one side is very problematic.
Lots of traders lose money in forex. Good traders need to educate themselves before making profits from forex. When you deposit a significant amount of your own money into a forex account, this isn’t a game.
Barack Obama on one side of the ring. Queen Elizabeth on the other. Just make your bet on the boxing ring / forex market. I picked Obama and he won of course. The ad showed me that the dollar gained against the Pound and that I instantly made $1122 dollars. I just need to fill a small form and the money is mine…..but wait…
This was of course an advertisement to a forex broker. Nobody makes money instantly. After registering, the people that fill the form will need to open an account, deposit money, and usually trade in a specific volume before getting this bonus that was promised in the ad.
In many cases, the trade volume that these traders need to make causes them to burn out their account. The bonus that the ad promised them never reaches their hands. I won’t mention the broker behind this ad, but I’m sure that some of you know what I’m talking about.
Even if this is totally legal, I find these advertising methods quite problematic. Presenting forex trading as a game in which you instantly win money by placing a bet on one side is very problematic.
Lots of traders lose money in forex. Good traders need to educate themselves before making profits from forex. When you deposit a significant amount of your own money into a forex account, this isn’t a game.
Editors’ Picks
EUR/USD climbs to two-week highs beyond 1.1900
EUR/USD is keeping its foot on the gas at the start of the week, reclaiming the 1.1900 barrier and above on Monday. The US Dollar remains on the back foot, with traders reluctant to step in ahead of Wednesday’s key January jobs report, allowing the pair to extend its upward grind for now.
GBP/USD hits three-day peaks, targets 1.3700
GBP/USD is clocking decent gains at the start of the week, advancing to three-day highs near 1.3670 and building on Friday’s solid performance. The better tone in the British Pound comes on the back of the intense sekk-off in the Greenback and despite re-emerging signs of a fresh government crisis in the UK.
USD/JPY recedes to multi-day lows near 155.50
USD/JPY is pulling back sharply at the start of the week, slipping back toward the 155.50 area as speculation mounts that authorities could step in to rein in further Yen weakness. That narrative gained traction after PM S. Takaichi secured a landslide victory in Sunday’s election, stoking expectations of a tougher line in defence of the domestic currency.
Editors’ Picks
EUR/USD climbs to two-week highs beyond 1.1900
EUR/USD is keeping its foot on the gas at the start of the week, reclaiming the 1.1900 barrier and above on Monday. The US Dollar remains on the back foot, with traders reluctant to step in ahead of Wednesday’s key January jobs report, allowing the pair to extend its upward grind for now.
USD/JPY recedes to multi-day lows near 155.50
USD/JPY is pulling back sharply at the start of the week, slipping back toward the 155.50 area as speculation mounts that authorities could step in to rein in further Yen weakness. That narrative gained traction after PM S. Takaichi secured a landslide victory in Sunday’s election, stoking expectations of a tougher line in defence of the domestic currency.
Gold treads water around $5,000
Gold is trading in an inconclusive fashion around the key $5,000 mark on Monday week. Support is coming from fresh signs of further buying from the PBoC, while expectations that the Fed could turn more dovish, alongside concerns over its independence, keep the demand for the precious metal running.
Crypto Today: Bitcoin steadies around $70,000, Ethereum and XRP remain under pressure
Bitcoin hovers around $70,000, up near 15% from last week's low of $60,000 despite low retail demand. Ethereum delicately holds $2,000 support as weak technicals weigh amid declining futures Open Interest. XRP seeks support above $1.40 after facing rejection at $1.54 during the previous week's sharp rebound.
Japanese PM Takaichi nabs unprecedented victory – US data eyed this week
I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.
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