Anyone in Australia? Tell your forex stories to a reporter.

[Simblaa]

Hi guys. I'm a journalist from Australia doing a story on retail FOREX trading. I am trying to educate people about the dangers if they are not properly educated etc. I was hoping someone who is a trader in Australia would be willing to talk to me about their experiences getting into FOREX trading. It would be ideal if someone had experienced some dodgyness...

Email me at simblaa@gmail.com if you can help.

To the mods, once again - sorry if this is spam. I was thinking an article advising people to be careful when trading and the dangers wouldn't be too far away from what the site is about so I figured I'd risk it. :-O

-Simon Black

 

[AsstModerator]

Simon,
Welcome to the FPA.

I think this is more than educational enough for this section of the forums. I think there are enough Australians wandering around here to get you some information.

I'll sticky this thread so it doesn't get lost. Please post a link to the story when you publish it.

 

[Simblaa]

Thanks a lot for that. Much appreciated!

 

[Cathy Corpuz]

Mods are really very supportive for us and willing to cooperate and help...thumbs up to you mods

 

[Inlike Me]

The many scams and frauds of the Forex Industry

As a person who had been in the Banking sector for many years I have witnessed the Pro's & Con's of trading the currency markets from an arm's- length point of view. Not being directly involved in the actual trading of Forex at that time I was able to gauge the tricks-of-the-trade, so to speak. Now that I'm a Trader myself I have gained the basic knowledge that every (new) trader should have before he/she ventures into actual trading of currencies.

It is a fact that a large potion of traders lose money, Why is that? Fx Trading is supposed to be the Be all and End all of making-money, sounds simple? don't you believe that for a moment because if that was the case 90% of traders would be Winners, yet in reality 90% of Traders are Losers - and that's a fact.

A begineer should never fall for the 3 card trick of unscrupulous FX Promoters as these people are just waiting for you to hand over your $'s with false promises and mis-leading adverts.

As this is my first venture into Forex Forums I will reserve my opinion about scams and frauds that are ripe within the Forex Industry but will be happy to share my (bad) experiences with you should you need it.

You may email me directly, I am not a seller of anything nor am I an affiliate of anyone or any organization, I will give you the facts and leave the rest up to you.

 

[RahmanSL]

Simon Black:

It would really help all Aussie wanna-be forex traders if you can add a notation for these wanna-be to head on here to the FPA before jumping into the world of forex trading and becoming bedfellow with crocodile & shark masquerading as Forex Brokers. Or thinking that EA/Robot and all those other "satisfaction guaranteed" money making machines/system will make them tons of money without knowing how to and without having to trade on their own.

More than likely, these Newbies will be posting here at the FPA crying how they have been scammed and cheated by those very same people who have already been listed/labled as "Scammers" by the FPA.

 

[Fxpooch]

Fx trading shock

Hi,

i saw ur post on whirlpool forum about fx trading...I've recently opened up an account with FXCM after trading for couple of weeks in demo account.

I got the confidence to trade after studying couple of books about it then earning 25K in just couple of weeks on FXCM's demo account.

But unfortunately, i've lost all my money on FXCM's live account. And now after going thru numerous posts on internet about scams from FXCM and other brokering firms, i kind of see no point in trading any more.

Just wanted to get your thoughts on it. Do you recommend any Fx firm in australia that is safe to deal with. Any tips will be helpful.

Thanks in advance!!

 

[Inlike Me]

FX Australian Sector

Hi FXpooch, in response to your inquiry about Australian FX recommendations I may be able to assist you. Like you, I too lost many thousands of $'s when I first ventured into currency trading some years ago and my first broker was FXCM. I do not blame the broker but I do blame myself for "lack" of proper education on the subject matter, not to mention the many evil promoters of FX systems, programs, EA's, Robots etc etc. After three years of trading Forex and doing well I am now able to advise the new-comer on a correct path to follow without fear or favour. Please contact me by email and if you need to talk to me personally I will be happy to give you my telephone number in Australia.

Cheers

 

[dkami]

waiting,waiting,waiting

Hmmmmm still no link to the story,ill send an email see if i can get it

 

[MichelAnge21]

Too bad you are not in New Zealand instead of Australia. Then I d have told you some pretty interesting stories about their offshore Financial Services Providers