Bitcoin Forum

i have been seeing lots of forex talk lately around the forum, this is a "bitcoin" forum after all.

i mean i am all for all kinds of trading as long as they can be profitable for me and since Forex is a much bigger market and it requires a much more professional skills i'd rather stick with bitcoin and altcoin markets.

what are your thoughts on this?

Very simple: There's a guy that is trying to promote his paid forex trading service.

All forms of trading activity involve significant risk. People that want you to believe otherwise are either completely incompetent or trying to scam you. There is no easy way to generate big gains with Forex or Altcoin, especially not with basic knowledge of widely promoted indicators. Professional traders use highly sophisticated trading systems and have high-speed market access. And even those are not always winning.

In general it makes no sense to engage in trading. You can just buy and hodl Bitcoin instead. This way you can avoid stress and will still participate in Bitcoin gaining purchasing power without lifting a finger.

ya.ya.yo!

I think Bitcoin attracted a lot of wannabe traders or wouldbe investors who may have money but not enough brains for such activities. Further, Bitcoin presently gives a lot of opportunities even for the totally braindead. You just buy and wait till the price grows. Since it is almost always the case recently, people get profits without making any effort. The Forex scammers are not only greedy but they are envious as well, and they feel a lot of butthurt when they see that even the half-witted or otherwise mentally deficient end up with some money in their pockets with Bitcoin...

Obviously, they want to strip off these poor fellas of their easy money

Soo do you believed that bitcoin hasnt bringed whales into bitcoin besides the miners? Bitcoin is working with some brokers already, and its a huge market with several costumers, sure all know forex has a huge risk associated to the potencial earnings. At this way of gambling you will play with your skills and greedy at same time, as you control your bets.

Could be that some people are just looking around and asking in the place on the forum that suits their question the best, or it could be that, like mentioned above, there is someone who is going around and trying to find investors for a forex trading program that he wants to run.

I personally have no idea why there is a spike in those topics, but I have a feeling it is likely the latter of the two I mentioned.

I would say a lot are here as they view bitcoin as a get rich quick scheme.

The returns are not as high as they expected as they havent become millionaires overnight by holding 0.5BTC so are now looking to jump ship in to next scheme that will make them rich overnight with no effort required.

I think the sudden increase in number of forex topics is more related to the emergence of related services, on specific topics, usually offering guides and buying/selling signals. It seems that there is a significant number of users paying for these services. I think it can be profitable, but this requires training and high initial investment, if the user wants to make it a profession.

One of the reason is that forex wasn't mentioned for a long time (so actively), I have seen also that people are selling "methods" on how to earn money with forex and maybe people are wondering what is that, how it works and other things.

i think i was the first here to offer forex signals. it has definitely caused a surge i interest given that my members are profiting daily, guess some members want to just know if it's legit

I do not blame first-timers for developing interest in forex as a means of alternative income if crypto-trading is not as profitable as anticipated.

Probably they would like to promote forex platforms as much as possible and attract new investors. But there are also many forex scams and lot people have lost their money. In general forex is very risky type of investment of the "easy money" type which we all know that doesn't exist.

Well forex may provide the easy cash for anyone the problem is you must put your money at big risk to try to achieve those, i do believe the recent boom of forex topics its related to a service a person is offering and some happy costumers are leaving their feedbacks, soo if you can make 200 dollars monhtly why would you ignore those, besides that some of them are able to get their comission from referals, but i believe forex might be better then others gambling.

I have never understood how people can make gains in forex without having inside information. The stocks with forex are too boring to me compared to the crazy wild wild west that the altcoin world is, I love how stupid it gets sometimes, the lack of regulation can make impossible things and turn people rich overnight. As far as I know this is harder to see in forex, the swings are smaller.

Yeah this is the main reason why there are forex topics that are coming from nowhere to simply promote his paid service. They are claiming that they are professional traders and they are noting that they are not giving assurance that your money will grow by just simply using their service. Yes, holding bitcoin is better than getting engage in forex for a lot of forex scheme investments are just coming out and doesn't want to help people but wants to scam them.

you haven't checked my thread and you say scam. if any service gave assurance you would all be rich. no risk no reward

This is kind of an old post, but forex isn't something that is excluded from the "Economics" subforum, so it makes sense that you would find them talking about it on here.

As for why there is an increase, it might, and I hesitantly say might, have something to do with the S&P index hitting new ATHs and some prospecting Bitcoin entrepreneurs/investors are looking at forex as another market.

More likely, however, it's one of the reasons already mentioned.

It may be new to other people who are wanting to invest in different types of investments. Out of curiosity of many an interested person asks about forex and since there are forex traders here in forum. In support to that question, they are creating topics to pull some interested people in forex. But that depends on how if they want to give their full support to that investment but I don't.

I'm not pointing out to you mate, I'm sorry if I mistakenly said that but I didn't said that all forex traders, investments are scam. Because I have a friend that has been a victim of forex broker. And  I've checked out your thread and it seems that many are happily earning with your service. And you are right with it, no risk, no reward.

yes some do you can't tell if they go rogue. i have a broker which owes me a good sum.

Most people that buy bitcoin/ altcoins are doing so as a form of investment.
(Unless they are just buying drugs on the darknet or something.)
So you are going to naturally attract the type of person that may become interested in forex investments.
Many coin traders also invest in stocks, bonds, forex, commodities and probably a few things I'm not thinking of.

Once I investigated this question when I was searching for trading opportunities, and learned that some top banks in my country were actually offering Forex brokerage services. I have no doubts that they would be "honest", though they evidently don't need to be real Forex brokers due to their sheer size. I mean to say that they could just settle the majority of the trades internally without actually selling or buying currencies on the Forex market itself (or anywhere else, for that matter)...

And the margins they offered were suicidal unless you literally had millions of dollars

Forex does atract several interest over the currencies changes, people had thinked just bitcoin is very volatil, the forex market does change daily around 1000 pips, if you able to find the direction as looks like there is a person able to find those you can make easy money, but forex its the most risked way to try to get an income or generate it.

I'm thinking if it origin from banks services and they are more trusted rather than with those people who I am saying that is just making forex as a source of their bad intent.



Do you disclose or tell us here how much your broker owes you? I'm a bit interested about debts and everything about brokers but if not, that's fine.

And the fact that the cryptocurrency space attracts people with varying interests it's a good thing for the ecosystem, because this increases the network effect and creates more demand for Bitcoin, and at the same time allows forex people and other investors to start adapting and using a currency different from fiat currency.

Most institutions like banks set fees like this purposely because they really don't want to waste time unless you are investing millions.
It's just not worth it for them to handle the account unless the fees they make are worth their while.

I'm interested to see what services people are using for forex trading if you are only talking about a few hundred/ thousand dollars,
and the fees that you are paying for this type of service.

the issue with topics or brokers or websites,... that are talking about this kind of investment is that they are always giving numbers and writing long essays about why you need money and profit and how big a amount you can make.

they never talk about risks, they never tell you that you must have some basic knowledge of market, analysis and know how or why prices change to be able to speculate yourself. and they all sell "signals" with the warning that it is risky so that if their prediction went down they can say i told you so.

Hit the nail on that one. I think the "safest" (don't read that as no risk, please) method for a newbie or beginner now is not to jump into trading, be it forez or bitcoin. Forex talk has been the hype for over a decade now but it really is something that needs patience and an appetite for risk.

If you belive there is a chance for crypto to make it big in the long term future, then just earn or buy some, collect as much as you can easily and continue life as normal.

Hopefully wake up one day and find btc is suddenly worth three times it is today.

Yayo, hello by the way if that's you=)

This is one thing, but there is also another

True brokers are interested in their clients staying profitable as long as possible, since they earn not from the money lost by the trader but from the commissions he pays on every trade made. In this way, the longer he stays in trading, the more profits he will be bring to the broker. Forex frauds, on the other hand, earn directly from the money lost by the trader, since he is basically trading against the broker (or the house, which would be a more proper term in this case). That's why they are interested in his losing, and that's exactly the reason why they not just offer insane leverage but in fact make you use it

I think that they want to drag people to trade forex, because they keep convincing the bitcoin traders that forex and crpto currencies trading is the same and forex can earn more than crypto currencies, but i think forex got more risk than crypto currencies because as i know you can't start trading forex with small amount

It is not about fees actually, it is about leverage, i.e. the amount of money you should borrow from the broker to open a position. For example, a broker says that you can start trading with just 100 dollars while in reality the minimum lot with which you can trade is 10,000 dollars, otherwise known as mini-lot (full, or standard lot is about 100,000 dollars). In this way, to be able to trade through such a broker, you would have to use a leverage of 100:1. That basically means that if the price changes more than 1% against your position, you will get a margin call...

And your account gets wiped away unless you add more funds to it


You can rest assured that the leverage will be particularly insane