Forex is not a scam, but there are plenty of scams associated with forex. Regulators have significantly caught up to the scammers over the years, making them increasingly rare. Nadex offers 10 of the most popular forex pairs as limited-risk binary options and spreads. You can trade them 23 hours a day, 5 days a week. With forex binary options and spreads, your maximum possible loss is set before you enter the trade. You can't lose more if a trade goes against you. In fact, Nadex doesn't issue margin calls. All trades are fully collateralized.
A scam or fraud is an intentional deception in order to take unsuspecting money from a person. In this sense, scams are rare and are becoming increasingly so. There is a distinct difference between a poorly run brokerage and a fraudulent one. Even a poorly ran brokerage can run for a long time before something takes them out of the game.
Some of these factors include political stability, interest rates, inflation, terms of trade, public debt and current account deficits. For example, in the case of interest rates, if rates are higher, lenders get a better return compared to those in a country with lower rates; therefore the higher rates attract foreign capital which causes the exchange rate to rise. This is one of the reasons forex traders may look to trade on interest rate announcements from central banks like the US Federal Reserve or the Bank of England.
In deciding which pair or pairs to trade, it would behoove the new trader to first decide which type of trader they wish to become: a long-term Trend trader or a short-term Range trader. Making this decision first helps simply because once this decision is made, traders can then better evaluate an individual pair to determine if the pair fits their trading style.
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