Forex is not just for rich people, anyone can trade. That said, it takes a long time to learn how to trade profitably. If you are a total newbie and you hope to support yourself entirely through forex starting from a few weeks from now that goal is completely unrealistic.
I believe that Forex is suitable for many people, the main thing is to understand what you want to get from it. As for me, this is a commonplace stereotype of people who cannot and do not want to learn how to work on Forex.
Back then, a long time ago, from before 2005, forex was only for the rich like giants, banks, large organizations. after 2005, due to the outstanding technological development, the financial market is more open and almost anyone can participate in just over 18t and the investment capital is only 100 usd
I also thought that Forex was for millionaires, at least, and I have nothing to do there in principle. As it turned out - from ignorance you can come up with a lot.
This is a big misconception that forex is only for rich people. Infact people wih limited financial resources can try their hands on trading and can earn bigger amount of profits if they go on the right track.
Now Forex has become a rather interesting option for work. At the very least, both a poor and a rich person can invest money in it and make money without any problems.
It’s not entirely without problems, most people don’t make a profit for a long time.
Is forex only for rich people?
In my opinion it is not. You can start making money even from 0 if you know what are you doing.
But also if are looking for fats and easy money. You can use bots instead.
I believe that Forex is for those people who understand how it all works. If you manage to work, you need to continue and make a profit!
There is a reason the term “Retail Forex Trading” was coined because its an open market and anyone with internet, trading software, and an online broker can trade currencies.