People who are desperate to provide themselves and their families
with a better lifestyle may well be sucked in by the glossy ads on TV,
in newspapers and on the web about the easy money that can be made
through foreign exchange trading.
But it’s not as easy as it may sound with an estimated 95% of foreign exchange traders likely to fail. But it’s not just the risk of losing money while trading that’s a problem.
In Australia, foreign exchange brokers are legally allowed to use their client’s funds as collateral – unlike other countries. In other words, the brokers can pledge your cash to banks. Should something go wrong, retail foreign exchange traders could get wiped out – without even trading. Some of Australia’s largest foreign exchange brokers, IG Group, CMC Markets, Oanda and GFT want the government to introduce laws to segregate client accounts – but local brokers have branded the move uncompetitive.
Read more Click here / www.trade4x.net
But it’s not as easy as it may sound with an estimated 95% of foreign exchange traders likely to fail. But it’s not just the risk of losing money while trading that’s a problem.
In Australia, foreign exchange brokers are legally allowed to use their client’s funds as collateral – unlike other countries. In other words, the brokers can pledge your cash to banks. Should something go wrong, retail foreign exchange traders could get wiped out – without even trading. Some of Australia’s largest foreign exchange brokers, IG Group, CMC Markets, Oanda and GFT want the government to introduce laws to segregate client accounts – but local brokers have branded the move uncompetitive.
Read more Click here / www.trade4x.net
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