I believe the Forex Market is totally Controlled and manipulated. Not just for hunting Stops… But it is literally printed by a Computer. What do you guys think? Do you think traders are the ones truly in control?
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Traders are not in control because we are not in the forex market. We are not buying and selling currency.
The big banks and institutions buy and sell currency and when they buy, price rises and when they sell it falls. You can call that manipulation if you wish but on that basis every market in the world is manipulated, from bread to diamonds to rice to fine art.
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Brilliant deduction and excellent reasons why you should avoid it at all cost.
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Why do you think so?
Who owns that computer?
Obviously we can’t control anything because nothing is in our hands, neither prices nor the economy. It all depends upon what is happening in the market. Also, there are some parties who can manipulate prices like market makers or LP’s.
The banks I guess…
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You don’t seem sure. If you’re not sure, how can you assign blame?
My conclusion : Big banks know CFDs is Gambling which conflict with Governments laws .
So they create second line called Broker dealer . These Broker dealers take the ethical risk to do this dirty bloody business . Banks sell to Brokers , Broker resell ( bet with ) to retail sellers . The Brokers shares profit with Banks .
Any problem the banks will be away and brokers will take the risk in front of FX community .
By this way ,big banks do money laundry of gambling (especially CFD’s ) contracts). it is one of biggest scam setup to suck all money from around of the world to share it with Big players
So dirty . 95% of FX is CFD contracts , so you can imagine the amount of money flow to the pocket of these big whales
My imagination so big , so please don’t take it so series
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I trade in the UK, the world’s biggest forex marketplace.
I trade via spreadbetting, a type of CFD, but I could just as easily use pure CFD’s. Neither are illegal here and both are as tightly regulated as any forex broker sector anywhere.
Speculating is not the same as gambling on a roulette wheel or a lottery. But it is similar to betting on horses or sports or playing certain card games like blackjack. That does not make it a scam.
Obviously the banks and brokers make a profit. They are businesses: businesses only offer services to clients if they can make a profit from them. That’s not a scam, that’s called capitalism.
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It doesn’t matter aslong as a trader profitable.