One financial market that was kept a secret by banks and big business until relatively recently is the forex market. Changes in the law forced this market to open up to private investors, as well as large corporations and banks. Because this market is relatively new as far as private investors are concerned, it is not easily understood. One online platform that has attempted to simplify it so that anyone can invest and profit in forex is eToro. Still many people who have used this platform have lost money and have raised the question, "Is eToro forex a scam?"
Contrary to what some disgruntled investors might say, eToro is completely legitimate and offers an online trading platform designed to make investing in the forex market easier to understand. In order to do this, they offer graphic interfaces that are similar to games or CGI animations that depict what the market is doing in terms of the currencies involved in a given trade. Because these animations do not resemble the technical graphs and trends that many investors expect, they believe this platform to be a scam.
The plain truth is that many investors around the world are using eToro on a daily basis and making money. Even people in Asian countries such as India, Indonesia, Bangladesh, and Pakistan are generating profitable trades using the eToro platform.
One reviewer claimed that eToro is a scam because he used it to make trades which lost money and made the exact same trades on another platform and made money. This begs the question, was the trades carried out simultaneously or was there a delay on one platform or the other? The forex market is highly fluid and changes can occur so rapidly that a difference in timing of just a few seconds can mean the difference between a profit and a loss.
One thing that eToro does do is offer a practice account that one can use to familiarize himself/herself with trading on the forex market. Some complain that all their trades in the practice account made money while all trades dealing in real money lost money. Again, this comes down to a matter of timing.
It is also possible that there is a disconnect between the practice account and the actual market. After all, the purpose of the practice account is to teach one how to trade, not necessarily to parallel the actual market.
While most platforms require minimum balances in trades of 25 USD or more, eToro introduced accounts that allow one to enter a trade for as little as 2.50 USD in January 2010. This move was made in an effort to help its customers limit their exposure, thus limiting losses on bad trades.
What eToro forex is is an online trading platform in the forex market that is designed to make trading in foreign currencies easy, even for those who have no investing experience whatsoever. The fact is that the forex market represents an opportunity to make huge profits. However, for every trader that makes a profit, someone takes a loss. This is why investors are warned repeatedly not to risk money they cannot afford to lose.
Contrary to what some disgruntled investors might say, eToro is completely legitimate and offers an online trading platform designed to make investing in the forex market easier to understand. In order to do this, they offer graphic interfaces that are similar to games or CGI animations that depict what the market is doing in terms of the currencies involved in a given trade. Because these animations do not resemble the technical graphs and trends that many investors expect, they believe this platform to be a scam.
The plain truth is that many investors around the world are using eToro on a daily basis and making money. Even people in Asian countries such as India, Indonesia, Bangladesh, and Pakistan are generating profitable trades using the eToro platform.
One reviewer claimed that eToro is a scam because he used it to make trades which lost money and made the exact same trades on another platform and made money. This begs the question, was the trades carried out simultaneously or was there a delay on one platform or the other? The forex market is highly fluid and changes can occur so rapidly that a difference in timing of just a few seconds can mean the difference between a profit and a loss.
One thing that eToro does do is offer a practice account that one can use to familiarize himself/herself with trading on the forex market. Some complain that all their trades in the practice account made money while all trades dealing in real money lost money. Again, this comes down to a matter of timing.
It is also possible that there is a disconnect between the practice account and the actual market. After all, the purpose of the practice account is to teach one how to trade, not necessarily to parallel the actual market.
While most platforms require minimum balances in trades of 25 USD or more, eToro introduced accounts that allow one to enter a trade for as little as 2.50 USD in January 2010. This move was made in an effort to help its customers limit their exposure, thus limiting losses on bad trades.
What eToro forex is is an online trading platform in the forex market that is designed to make trading in foreign currencies easy, even for those who have no investing experience whatsoever. The fact is that the forex market represents an opportunity to make huge profits. However, for every trader that makes a profit, someone takes a loss. This is why investors are warned repeatedly not to risk money they cannot afford to lose.
Other related articles on FOREX trading.
If you already have trading experience with eToro FOREX Broker (Good or bad) please post it on our FOREX Forum .
1 comments:
Thanks for information, we must be careful to avoid scam to forex trader
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