Beware of investments in Forex. Using misleading advertising, many websites have already wasted a lot of money to thousands of investors, when there is no scam, warns Financial Markets Authority (AMF), which comes to conduct a study on the subject. Results of this survey and our advice if you still want to get started.
Nine out of ten investors lose money in Forex. This was the finding of a study by the AMF on nearly 15,000 active individual investors on the foreign exchange market online for four years. On average, over this period, an investor in the Forex (Foreign Exchange) lost 10,900 euros. In total, customers of these websites, though approved by the AMF, lost 161 million euros, prompting the stock to a policeman only advice: “Flee Forex” because “you have everything to lose.” <- Start of Brightcove Player ->
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As a new three advertising for financial investments now involves online trading, the AMF is warning investors by warning including Forex risk, “a market that is not for individuals.”
The market authority says it is particularly difficult to make money because of the complexity of the market exchange and its unpredictability. The instruments of speculation as CFD (Contract for Difference), binary options and all offers with “leverage” are particularly dangerous because they multiply gains and – more often – losses (up to 400 times). Thus, if 9 out of 10 customers have lost money on the Forex, the most active traders were also those who have suffered the greatest losses. Worse, thinking “chasing” customers who have persevered have only increased their losses.
More worryingly, this study focused only on sites approved by the AMF , that is to say, allowed to offer their services in France. Thus, the AMF is concerned that “the amounts extracted are greater still.” Indeed, some websites hide real scams, diverting the money earned, stealing the money invested, even emptying the client once the credit card number obtained bank account. Without any recourse, the service was illegal and often operating from abroad.
AMF “scam is after the click,” especially when the advertising boasts quick gains and important without warning of the risks. It is impossible to become a “trader” in a few days, “supplement his income,” or “stop working” through Forex insists the market authority. Do not be seduced by these promises too good nor accounts free demos, training or advice of alleged “coaches.” Unfortunately, the phenomenon is growing. Compared to last year, the number of complaints has increased by 20%
To avoid unpleasant surprises, the AMF publishes and regularly update a blacklist of sites to be avoided. In addition, some sites with permits issued by foreign regulators sometimes have bad practices. If you still want to get started, so prefer recognized actors such as Saxo, IG Markets or RTFX.
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