Forex Billionaire ...??

sigitpambudi144

Private, 1st Class
Messages
34
Hello, excuse me , i want to ask about forex billionaire because in mycountry there are heat video about forex. The Youtuber is Businessman said that we cant become rich in forex and a lot of billionaire in the world are rich from stock

The questions are :
1. Could we become billionaire by forex trading ?
2. If we can what broker we could use to achieve that ?
3. If its impossible to become billionaire by forex trading, whats teh reason ?

Thank you
 

Pharaoh

Colonel
Messages
20,125
Are there real forex billionaires? George Soros certainly thinks so.

Are there real forex billionaires advertising their services on YouTube, Telegram, Facebook, etc? If you think so, I've got a bridge in Brooklyn and some lovely wetlands in Florida I can sell you for an incredibly good price.

A real forex billionaire won't have time to hang our on social media offering service for fees. They can make more in a day than they can make with 10,000 clients paying monthly fees. Fake forex billionaires will charge anything from zero (either to make money on an upsell later or to make you sign up for a broker under their IB link, so they make money whether you win or lose) to insanely large amounts of money for courses, mentoring, and signals that are nothing but a way to suck money out of your wallet and enrich the guy pretending he's already got a billion dollars.

Even at the sub-billionaire level, once your account gets big enough, you need to dump retail forex. Your choices then are an institutional account (only at a very well regulated broker with a solid reputation or at a licensed bank) or else at a broker licensed to offer exchange traded futures. You can read what Sive Morton wrote about futures brokers here.

Is it possible to become a billionaire? Yes, but the more money you have to start with, the better your odds. No matter what the fake advertisements say, your chances of making a billion starting with a few hundred dollars are zero. Also, no one becomes a billionaire overnight. Even with a starting balance of 1 million, making a billion via trading takes decades of disciplined hard work, not years.
 

Charlieboy885

Recruit
Messages
93
I think you can make a comfortable living from trading. I think if you go into it thinking you're going to become a billionaire you may be disappointed. It's all about learning the steps and focusing on making consistent profits.
 

fxoday

Recruit
Messages
584
I think every business has its own success story, in stocks has own success story, in the marketplace has own success story, more in forex, they have own success story, George Soros is the one, Paul Tudor Jones, I often hear this name, Grace cheng, and more.
 

TareqS

Corporal
Messages
106
There must be some Forex billionaire. I think they do not show off at the social media to sell their system or such. Forex trading is an opportunity to make money. Yes, it does need patience, knowledge, intelligence and hard work.
 
Messages
104
I would think so, but you wouldnt find them on social media posting pictures with expensive cars lol

Forex is not a place to get rich quick, ye you can make money but it takes time and experience, no quick fix and no easy task to even make a full time living let alone hit billionaire staus.

If you do not lose money, then consider that a win to start with !
 

sigitpambudi144

Private, 1st Class
Messages
34
Are there real forex billionaires? George Soros certainly thinks so.

Are there real forex billionaires advertising their services on YouTube, Telegram, Facebook, etc? If you think so, I've got a bridge in Brooklyn and some lovely wetlands in Florida I can sell you for an incredibly good price.

A real forex billionaire won't have time to hang our on social media offering service for fees. They can make more in a day than they can make with 10,000 clients paying monthly fees. Fake forex billionaires will charge anything from zero (either to make money on an upsell later or to make you sign up for a broker under their IB link, so they make money whether you win or lose) to insanely large amounts of money for courses, mentoring, and signals that are nothing but a way to suck money out of your wallet and enrich the guy pretending he's already got a billion dollars.

Even at the sub-billionaire level, once your account gets big enough, you need to dump retail forex. Your choices then are an institutional account (only at a very well regulated broker with a solid reputation or at a licensed bank) or else at a broker licensed to offer exchange traded futures. You can read what Sive Morton wrote about futures brokers here.

Is it possible to become a billionaire? Yes, but the more money you have to start with, the better your odds. No matter what the fake advertisements say, your chances of making a billion starting with a few hundred dollars are zero. Also, no one becomes a billionaire overnight. Even with a starting balance of 1 million, making a billion via trading takes decades of disciplined hard work, not years.
Thanks for your explanation, do you mean about institutional account like JP morgan, Citibank, 360T and etc and regulated broker with licensed bank like LMAX, Dukascopy, Saxobank ?

Because in retail forex market IMO is impossible even someone has thousand accounts in retail broker ... But in Real Market like Stock, Option , Futures i think is possible because more regulated and the broker more regulated too
 
Messages
155
Pharaoh has said most of what there is to know about the question. I would just like to add one thing. I don't think it's wise to get started on trading thinking about becoming a billionaire. Firstly, even if you don't become a billionaire, you can still get a lot out of trading. Secondly, imagining yourself a billionaire can incite greed which can lead to overtrading and bad decisions, especially in the beginning when you don't have much experience.
 
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