Busting Myths about Forex

You may have heard a popular opinion suggesting that Forex is some kind of scam. We have collected the most widespread myths about Forex to show why they are exactly that — no more than myths.

1. Myth no. 1: you can’t earn anything in Forex

   Myth #1

   You can’t earn anything in Forex

   Thousands of traders working with Numera International make money every day. Essentially, they are doing the same thing that banks, exchangers and large corporations do: they buy and sell assets. The main goal is to buy cheap and sell high. Putting simply, this is the gist of financial market trading. Prices change every day, more for some assets, less for others. The market is fast- moving. Millions of trades happen every minute - with many of them making profits every minute!

2. Myth no. 2: only a few are able to learn their way around Forex

   Myth #2

   Only a few are able to learn their way around Forex

   If you’re new to the market, you will need little time to understand how to use the trading terminal, learn the terminology, and ultimately learn how to trade. Everything that follows will turn into an exciting process! You place orders to buy or sell currency, someone buys it from you at your price, and then you look for profitable bids and buy only, so that you can sell at a higher price.

3. Myth no. 3: Forex is a scam

   Myth #3

   Forex is a scam

   Forex or Foreign Exchange is a free international currency exchange market that has been around in its modern form since 1978, under an international agreement. At first, only big market players could place trades (market makers): banks, foundations, transnational corporations, and countries. In the early 1990s, the market became open to private investors thanks to micro-lots and split lots. Today, Forex is just a currency market everyone can trade-in. But they need an intermediary to provide the software and the whole infrastructure for constructing accounts, placing orders, and depositing and withdrawing funds. Forex brokers are such intermediaries.

4. Myth no. 4: client’s loss is broker’s gain

   Myth #4

   Client’s loss is broker’s gain

   Brokers are interested in successful clients. Of course, there are unethical companies. Such brokers appear out of nowhere with aggressive marketing strategies, then disappear just as quickly with the clients’ money. The genuine brokers are focused on long-term operations. They make their profit from trading volume and commissions from each trade, both profitable and losing ones. That’s why they have no stake in the client’s loss. The opposite is true: they are prying on clients who place as many trades often and continue to work with the company, leading to growing volumes. It means that brokers are interested in the client’s profit. That’s why brokers offer various add-on services: trading signals, copying trades of successful traders, market analysis, and better trading conditions. They do everything to help clients on their way to victory.

So, are you willing to be a part of the Myth-busting adventure?