Is Forex a scam?

Not that long ago I watched a video about Forex. The guy talked about banks and how they manipulate the price on the currencies market. When they buy, all the other people that selled lose their money and vice-versa. When someone’s winning money, others are losing them. What do you think? Is this a casino created by the banks?

Its a competitive industry between the banks. They don’t care about tiny private retail traders winning or losing unless as a group they bring unwanted political attention, which might bring unwanted regulation.

Yes, banks have the power to drive prices up or down. But that’s not to catch us out, that’s for profit and market share. And if private retail traders buy at the top and sell at the bottom, that’s no different to what they do in the stock market as well.

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Definitely not. The guy on the video was probably venting his own frustrations by spreading b.s.

No way! Maybe you need to watch out some other video on what forex markets actually are.

with the actual power and speed of computer
banks can see who is buying and who is selling in a split of a second
and then decide how they can make profit using that information
if you are lucky to be on the same frequency of what the bank will be doing you win
otherwise you lose like the other 70% of retail traders
I believe this business is not a scam but like any market in the world no matter how big or small it is ,they are smart asses that want to control price

Babypips member go00053 said it best:

“You are a sheep among wolves; veracious wolves. As a retail trader, you can never be a wolf, but with a plan, proper money management and time you can become a fox. And a fox can make a living amongst the wolves.”


Yep… Definitely… and Retail Forex is just a buy product of the huge InterBank Market…

The Interbank Market doesn’t care about your retail position… your Market Maker Broker certainly does.

Try scalping a 25 tick chart and watch price consistently move in the opposite direction…

Your Broker isn’t moving the Interbank Price… just YOUR price feed on the micro TF charts…

Read your Brokers T&C’s… You are trading via CFD, Contract for Difference… Your Broker can give you any price or spread they wish… they don’t have to give you accurate Interbank prices… a software algorithm monitoring your account is used to move your price feed away from the (a) real price long enough to ensure they garnish as much cash as possible from their clients Stops and overstretched Margins…

Check out the post below…

Always… Always trade the longer TF’s… ie: 4 Hour Charts and up…

Greatly improves your chances of profiting from this game


What is the minimum longer TF in your pov?

After Sun T’zu, attack where your opponent cannot defend: defend where your opponent cannot attack.

Which for a lot of traders should mean they avoid scalping and trade long-term. If you believe your broker is going to try to cheat you out of money with wider spreads and spikes and price drifting and stop-hunting, why make it easy for them?


Shiz just got real!

It’s not a scam in my opinion. I’ve seen some ridiculous 5 o’clock spreads on a Friday and other things my broker has done, but I’ll continue trading. I’d suggest enlisting a reputable broker, keep tabs on your end of day balance, and check your trades often. Write down your profit before you pull your trigger. There are many things you can do to keep track of any funny business. Keep immaculate records. Hope this helps.

Forex is the largest market in the whole world. Do you have an idea just how much money you need to have in order to move this market? It had happened that big banks can manipulate price by joint action, but this happens only during very short period of time and within a one day

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Yep… Depends on the pair… The more popular the pair the larger the financial injection required…
AUDUSD requires approx… $11 Million per second injected to shift the price…

Sounds like a lot doesn’t it… add in the leverage and it’s just a pi$$ in the ocean in a $5.5 Trillion per day Market…

But that’s not the point…No one is moving the InterBank prices to defeat retail positions…

It’s obvious that both you and Tom have not bothered to read the thread…

Have a read of this link…