Forex - not Herbalife?
Recently I saw a wonderful advertisement in the subway with the following content - “Earnings from $ 100 a day. Possible full and part-time employment. Not Herbalife. Not FOREX. He laughed long and sincerely.
All on Forex! Indirect calls to this can be found on posters in the subway, and in journal articles. Forex in Ukraine, it seems, is already mythologized: few people understand what it is, in fact, but almost everyone is convinced that this business is terribly profitable. In the view of the inhabitants in Forex can quickly and easily enriched. Folk beliefs about the speed of possible enrichment on the world currency platform are quite fair, but about easy money - deeply erroneous. Playing with the currency, it is much easier to go broke than to earn. The vast majority of Forex traders lose money, only a few manage to trade successfully.
What is it? So, FOREX (from the English FOReign EXchange market, quite often you can find the Russian spelling - “Forex”) - the international currency market, and trade in money there. For euros you can buy, say, Swiss francs, pay yen for British pounds, and so on. And all operations take place exclusively in non-cash form. Such non-cash trading, by the way, is called dealing.
The global interbank foreign exchange market FOREX acquired the current look in the mid-1970s, after the Bretton Woods exchange rate regulation system ceased in 1971 and the transition to "floating rates". Since then, FOREX has become the most dynamic and liquid market in the world.
Unlike the futures or stock market, you can trade on FOREX around the clock during the working week. The rapid movement of funds, the low cost of transactions, high liquidity makes FOREX one of the most attractive markets for investors. Today, the daily turnover of the FOREX market ranges from 1.5 to 3 trillion dollars. This is more than 5 times the total daily turnover of all stock markets in the world.
Another significant difference between the FOREX market and all others: it does not have any particular trading place. In fact, FOREX is a huge network of currency dealers interconnected by means of telecommunications, which are dispersed in all global financial centers and operate around the clock as a single mechanism. Currency trading is carried out by phone or through computer terminals. Transactions are made simultaneously in hundreds of banks all over the world.
For information on the state of financial markets in real time, as well as financial and economic news, FOREX participants use international information systems Reuters, Dow Jones, Bloomberg, Tenfore and others. The main currencies on the FOREX market are the US dollar, the euro (before the introduction of the euro is the German mark), the Japanese yen, the Swiss franc and the British pound sterling. It is believed that they fully meet the requirements for free convertible currencies.
Generally interesting looks, you see! But let us immediately note that the main sources of knowledge of the overwhelming majority of the population about stock trading are journal articles, Theodore Dreiser’s book “Financier” and several Hollywood films with constant happy ending. The plots of these stories are not very diverse. A good, but unfairly offended fate, a poor American guy (or lady), deftly tapping the keys of a personal computer, buys a few shares with his last money. Then, having made some simple manipulations with them, he earns a lot of money, which is enough to sit in a lounge chair near his own pool for the rest of his life and occasionally recall hard times. Some people understand that these stories are composed by people who are very far from the stock market. But many of those who naively believe that by spending a little money and putting a minimum of effort, you can quickly and fabulously get rich.
According to statistics, only one out of ten traders in the long term trades on Forex with a profit. Moreover, this income, as a rule, is far from fantastic. Usually the trader's annual profit does not exceed 30-40%. Few manage to achieve an increase in starting deposit by 50-60%. That is, the income above 5% per month is not particularly count. With large deposits, of course, substantial sums are obtained, but with small accounts, even a profit of 100% per annum will look insignificant. With a sum of less than ten thousand dollars, you only lose time and earn nothing but a headache from permanent sitting at the computer. However, most traders in Ukraine work with just small trading accounts. Now the average account size is 1-2 thousand dollars.
In many ways, the success of work on Forex is determined by the choice of broker. You cannot do without it, only a bank or a dealing company will provide you access to the market and provide an opportunity to work with a special computer program (trading terminal), without which it is simply impossible to trade on Forex. The answer to the question of who is better to deal with depends solely on your well-being. When concluding an agreement with a broker, it is necessary to open a trading account, its minimum size between banks and dealing companies varies significantly. Dealing companies have a fairly affordable entry threshold - an average of $ 100, now there is even a rate of $ 10. Banks, on the other hand, raise the bar much higher, the most popular amount is $ 2,000, and some bring the minimum deposit to $ 10,000. Thus, bankers cut off a small client, with whom they are just not interested in messing around.
When choosing a broker is also an important fiscal issue. In the bank, the income tax when you close an account will be automatically withheld. Dealing companies are not tax agents, therefore, you can decide whether to indicate the income from trading in your tax return or not. But, opening a deposit in the bank, you can not guess if you will see your money again. If the bank is included in the deposit insurance system, you will receive your money even if your broker fails. No one will give such guarantees to clients of any domestic dealing center. The fact is that there is no mention of the Forex market in the Ukrainian legislation; therefore, it is not stated anywhere how the structures providing access to it should work.
')
According to the current legal acts, only organizations having a special license from the National Bank of Ukraine can conduct currency transactions. It is actually issued only to banks. Therefore, most dealing centers act only as companies providing information services. And contracts with clients are concluded on behalf of an affiliated foreign broker who is not subject to the Ukrainian jurisdiction, who is registered, as a rule, in an offshore zone. In which case it will be impossible to get a refund. In addition, you will not even have the right to demand them, since, due to the limitations of the domestic currency legislation, you will have to transfer the security deposit abroad on a fictional basis, for example, as a payment for any goods or services.
Recently, the so-called bookmaking contracting scheme has been spreading among Ukrainian dealing centers. You sign the agreement directly with the Ukrainian company, but the subject of the contract will not be the foreign exchange transactions themselves, but the rates for the growth or reduction of a currency relative to another currency. You will be trading on Forex, but under the contract it will look like a game on the tote in a bookmaker office. Such a scheme is completely legal. However, there is also an extremely unpleasant moment for the client: transactions that fall under the definition of “betting” are not subject to judicial protection. So, having concluded a betting agreement, you should not count on the help of Themis. But compared to the offshore scheme, the bookmaker is still considered more reliable. The broker is in Ukraine, and you can try to somehow influence it.
If you omit the issue of risks, then the service and banks, and dealing companies provide approximately the same and usually do not charge for it. The main thing is to maintain the minimum balance of your account. Brokers do not establish any commissions for their clients now, access to the trading terminal is also provided free of charge. However, if you decide to trade in the computer room of a broker, you will have to fork out to pay for the workplace, the traditional monthly tariff is $ 50. For this money, you can even sit at a computer without ever trying, nobody will chase you. You can conduct transactions and by phone, the operator will carry out the instructions, but this method is more like a lottery, you will bet blindly, without seeing or analyzing the market situation.
Those who are accustomed to rely not only on luck, will have to study the peculiarities of the behavior of the foreign exchange market. It will be extremely difficult for people who have not come across stock trading before and who are not familiar with technical analysis. However, now almost all dealing centers conduct training courses. Forex wisdom is usually taught for 1-2 months, on average, it takes 200-300 dollars. The obtained theoretical knowledge can be immediately tested in practice, and without prejudice to its budget. Almost all brokers now provide the opportunity to work on an educational trading terminal. Except that you will be risking virtual money, the training trade is no different from the present one, transactions are conducted in real time with current quotes and technical analysis data.
However, you should not flatter yourself about the results of educational trading. About 60% of traders act successfully on training accounts, and when they start working with real money, only 10% receive profit. The fact is that there are psychological difficulties in the transition from the demo account to the real one. With virtual money, people work more relaxed, they have no fear of losing real money. The point here is exclusively in psychology. This is the same as playing paintball and participating in a real shootout.
To work at Forex was not like a game of roulette, experts strongly advise to enter the market, armed with not only intuition, but also a proven trading system. If you do not trade on a whim, then you should work according to a clearly formalized plan. It should be clear to you at what combinations of certain market factors it is worth buying, at which ones to sell, and when it is better not to conduct transactions at all. It is necessary to form a set of signals on the basis of which you will make decisions, and then you will not have to suffer every time in search of an answer to the question of what to do.
A signal to action can serve as a news (political, economic, social) that can influence the market, as well as technical analysis data. Hundreds of various graphical indicators have been accumulated, showing how and when a currency can behave. Experts do not recommend trading, relying only on any one indicator, but you should not overdo it with their number either.
The global currency market is called the Interbank Market, and all the leading banks and governments are protagonists there. Operations are conducted very actively. There is also a third party. These are thousands, as if to say less - “not very smart people”, some of whom live in our country. For let's not compare the trader in Barclay's in London, which has access to all the key information, using professional trading terminals, which allow seeing the entire depth of the market and being served by a team of analysts, and Vasya Pupkin, who suddenly decided that he would soon become George Soros . When asked what he does, Vasya proudly replies: “I am a currency trader. Well, the international currency market, I work there, do you understand? ”However, Vasya can not worry. In no foreign exchange market, its dollars are not received. They settle down safely in companies that provide him with forex services. But more on that below.
In the West, fraud with Forex appeared somewhere in the 70s of the last century. The scheme was essentially the same as it is now on the Internet. Small offices lured gullible "clients", painted their wonders of earnings in the foreign exchange market, where everyone with a small capital can get a 1: 100 margin and buy "oh how much" of any currency, and then sell it more and make fabulous profits. Briefly explain what's what, signed a piece of paper that is familiar with the risks - and go ahead. “Clients” were in the halls, where displays with quotes and charts were placed, and “trading” was conducted by filling in paper orders and submitting them to the cashier. In the hall, “experts” (of the former losers, kept by swindlers) constantly moaned, talked about trade strategies with solid air, thereby stirring up interest among the suckers. This is a thimble game.
Naturally, “customers” thought they were participating in the international market. Nowhere they participated. Money from the office did not go out, lost and got the company. The “experts” sighed reproachfully. They said: “Well, yes, that's right, because to learn this takes time. Yes, and you have little capital. What will you do with a thousand dollars? Now, if more - then yes. Be sure to start earning. ” Naturally, the “experts” had their interest. They answered questions about personal successes very vaguely or lied without blushing. Go check it out!
Soon invented, “lo and behold!”, Trust money management. There was a beauty there. To unleash the sucker to bring, say, 20 thousand dollars and put in the management of “experts”. A month later, show him the left pieces of paper, compiled on the basis of already known past graphs. From the papers it followed that the bill had doubled. The jubilant "client", who presented himself as the future owner of various real estate and expensive cars, carries more money. They borrowed from friends, there were cases - they laid houses. For a while, the suckers were “fed” rainbow fake reports, and then something happened on the market, and “the client” was told: “Something extraordinary happened. Your money, no, not burned, they "stuck." Do not worry, you just need to bring more money urgently. The main thing is to stay in the game and everything will be fine. You saw how fast money is earned. ” And carried fuckers, clinging to the last hope. For a while, they were again shown fabricated reports that things were getting better, and then it all started in a new way.
“Finishing” the “client” was also very important. The sucker shouldn’t have enough strength to go around the courts, and money for expensive lawyers, he had to want only one thing - to forget this nightmare. The law of this business read - “The real divorce of the“ client ”begins not when he brought the first money (even if a lot), but when he lost it.” The first long-awaited loss opened up vast opportunities for further divorces. Little lost - "Well, now you understand what's what, it's time to work for real." Lost a lot - “Carry more, as much as possible. You’ll get it all back. ” All lost - “Also not a problem. Become an “expert”. Search for "clients". You will have a percentage. " Ukrainian "forex market" of our days, it does not remind you of anything ?!
Only having developed in the West, such offices went to Asia - Singapore, Pakistan, India, the Philippines. In the West, people are literate, they knew firsthand what the market for stocks, bonds, and licensing brokerage activity was. Mostly immigrants were caught there. In Asia, people have less money, but it is easier to work - the people are naive, the legislation is “dirtier”, it is easier to buy off in case of anything. The path of such offices resembled the history of famous casinos. Many lives were broken, a lot of families started up around the world and destroyed. Psychological trauma is difficult to overestimate. All the “clients”, often intelligent and educated people, were shocked when they learned how arrogantly and simply they were deprived of hard-earned money. The moral damage from this is much worse than ordinary robbery.
Many went to court. But there Foreksniki with smiles brought all the same documents signed by “clients”: “I want to trade, I’m familiar with the risk, I have experience (experience is what the“ experts ”have taught)”. Sometimes “clients” have sued something, but only a small amount. Forex is never discouraged. Moral preparation for the inevitable communication with menacing, crying and imploring “clients” was in advance. However, offices measure knew. Bring them a client a million dollars, they would hardly have taken. As for a million and in law-abiding America, sullen guys could come and politely ask to pay, and even with interest. Yes, and a person who has that kind of money, probably understands finances or finds someone to consult with. Not. The rate was made on the average amount per person of the middle class. Maximum tens of thousands of dollars. The risk was minimal. In the extreme (or not extreme, but in advance planned) case, it was possible to evaporate with money and open a new office in another place, city, and even country. Forexics were imprisoned a little, rarely and for a short time. They went out and did the same. Profitable business, easy money.
Years have passed since then. What has changed in Forex? In fact - nothing.The general scheme remains the same. The main thing has changed. The Internet and electronic trading appeared. By highly promoting the stock and other traditional financial markets through remote access, the Internet has brought a lot of value to currency scammers. Even the elderly “bison” of this business quickly made friends with the computer. Came “talented” youth. Foreksnikom opened new horizons. The coverage of the Lokhov audience has increased. Money flowed electronically faster. And it became more pleasant to communicate with “clients” via remote access. There was no need to see their anger, pleas and snot. However, do not think that business has become easier. On the contrary. It is necessary to organize everything technically, to keep a bunch of good and reliable (so as not to talk too much) programmers who are able to manipulate quotes, schedules and spreads at the right time.Also, there was a need to establish professional marketing, personal electronic communication with suckers. Competition again, free money everyone needs. But revenues are worth it.
Fedor Petrenko
Oligarch
All on Forex! Indirect calls to this can be found on posters in the subway, and in journal articles. Forex in Ukraine, it seems, is already mythologized: few people understand what it is, in fact, but almost everyone is convinced that this business is terribly profitable. In the view of the inhabitants in Forex can quickly and easily enriched. Folk beliefs about the speed of possible enrichment on the world currency platform are quite fair, but about easy money - deeply erroneous. Playing with the currency, it is much easier to go broke than to earn. The vast majority of Forex traders lose money, only a few manage to trade successfully.
What is it? So, FOREX (from the English FOReign EXchange market, quite often you can find the Russian spelling - “Forex”) - the international currency market, and trade in money there. For euros you can buy, say, Swiss francs, pay yen for British pounds, and so on. And all operations take place exclusively in non-cash form. Such non-cash trading, by the way, is called dealing.
The global interbank foreign exchange market FOREX acquired the current look in the mid-1970s, after the Bretton Woods exchange rate regulation system ceased in 1971 and the transition to "floating rates". Since then, FOREX has become the most dynamic and liquid market in the world.
Unlike the futures or stock market, you can trade on FOREX around the clock during the working week. The rapid movement of funds, the low cost of transactions, high liquidity makes FOREX one of the most attractive markets for investors. Today, the daily turnover of the FOREX market ranges from 1.5 to 3 trillion dollars. This is more than 5 times the total daily turnover of all stock markets in the world.
Another significant difference between the FOREX market and all others: it does not have any particular trading place. In fact, FOREX is a huge network of currency dealers interconnected by means of telecommunications, which are dispersed in all global financial centers and operate around the clock as a single mechanism. Currency trading is carried out by phone or through computer terminals. Transactions are made simultaneously in hundreds of banks all over the world.
For information on the state of financial markets in real time, as well as financial and economic news, FOREX participants use international information systems Reuters, Dow Jones, Bloomberg, Tenfore and others. The main currencies on the FOREX market are the US dollar, the euro (before the introduction of the euro is the German mark), the Japanese yen, the Swiss franc and the British pound sterling. It is believed that they fully meet the requirements for free convertible currencies.
Generally interesting looks, you see! But let us immediately note that the main sources of knowledge of the overwhelming majority of the population about stock trading are journal articles, Theodore Dreiser’s book “Financier” and several Hollywood films with constant happy ending. The plots of these stories are not very diverse. A good, but unfairly offended fate, a poor American guy (or lady), deftly tapping the keys of a personal computer, buys a few shares with his last money. Then, having made some simple manipulations with them, he earns a lot of money, which is enough to sit in a lounge chair near his own pool for the rest of his life and occasionally recall hard times. Some people understand that these stories are composed by people who are very far from the stock market. But many of those who naively believe that by spending a little money and putting a minimum of effort, you can quickly and fabulously get rich.
According to statistics, only one out of ten traders in the long term trades on Forex with a profit. Moreover, this income, as a rule, is far from fantastic. Usually the trader's annual profit does not exceed 30-40%. Few manage to achieve an increase in starting deposit by 50-60%. That is, the income above 5% per month is not particularly count. With large deposits, of course, substantial sums are obtained, but with small accounts, even a profit of 100% per annum will look insignificant. With a sum of less than ten thousand dollars, you only lose time and earn nothing but a headache from permanent sitting at the computer. However, most traders in Ukraine work with just small trading accounts. Now the average account size is 1-2 thousand dollars.
In many ways, the success of work on Forex is determined by the choice of broker. You cannot do without it, only a bank or a dealing company will provide you access to the market and provide an opportunity to work with a special computer program (trading terminal), without which it is simply impossible to trade on Forex. The answer to the question of who is better to deal with depends solely on your well-being. When concluding an agreement with a broker, it is necessary to open a trading account, its minimum size between banks and dealing companies varies significantly. Dealing companies have a fairly affordable entry threshold - an average of $ 100, now there is even a rate of $ 10. Banks, on the other hand, raise the bar much higher, the most popular amount is $ 2,000, and some bring the minimum deposit to $ 10,000. Thus, bankers cut off a small client, with whom they are just not interested in messing around.
When choosing a broker is also an important fiscal issue. In the bank, the income tax when you close an account will be automatically withheld. Dealing companies are not tax agents, therefore, you can decide whether to indicate the income from trading in your tax return or not. But, opening a deposit in the bank, you can not guess if you will see your money again. If the bank is included in the deposit insurance system, you will receive your money even if your broker fails. No one will give such guarantees to clients of any domestic dealing center. The fact is that there is no mention of the Forex market in the Ukrainian legislation; therefore, it is not stated anywhere how the structures providing access to it should work.
')
According to the current legal acts, only organizations having a special license from the National Bank of Ukraine can conduct currency transactions. It is actually issued only to banks. Therefore, most dealing centers act only as companies providing information services. And contracts with clients are concluded on behalf of an affiliated foreign broker who is not subject to the Ukrainian jurisdiction, who is registered, as a rule, in an offshore zone. In which case it will be impossible to get a refund. In addition, you will not even have the right to demand them, since, due to the limitations of the domestic currency legislation, you will have to transfer the security deposit abroad on a fictional basis, for example, as a payment for any goods or services.
Recently, the so-called bookmaking contracting scheme has been spreading among Ukrainian dealing centers. You sign the agreement directly with the Ukrainian company, but the subject of the contract will not be the foreign exchange transactions themselves, but the rates for the growth or reduction of a currency relative to another currency. You will be trading on Forex, but under the contract it will look like a game on the tote in a bookmaker office. Such a scheme is completely legal. However, there is also an extremely unpleasant moment for the client: transactions that fall under the definition of “betting” are not subject to judicial protection. So, having concluded a betting agreement, you should not count on the help of Themis. But compared to the offshore scheme, the bookmaker is still considered more reliable. The broker is in Ukraine, and you can try to somehow influence it.
If you omit the issue of risks, then the service and banks, and dealing companies provide approximately the same and usually do not charge for it. The main thing is to maintain the minimum balance of your account. Brokers do not establish any commissions for their clients now, access to the trading terminal is also provided free of charge. However, if you decide to trade in the computer room of a broker, you will have to fork out to pay for the workplace, the traditional monthly tariff is $ 50. For this money, you can even sit at a computer without ever trying, nobody will chase you. You can conduct transactions and by phone, the operator will carry out the instructions, but this method is more like a lottery, you will bet blindly, without seeing or analyzing the market situation.
Those who are accustomed to rely not only on luck, will have to study the peculiarities of the behavior of the foreign exchange market. It will be extremely difficult for people who have not come across stock trading before and who are not familiar with technical analysis. However, now almost all dealing centers conduct training courses. Forex wisdom is usually taught for 1-2 months, on average, it takes 200-300 dollars. The obtained theoretical knowledge can be immediately tested in practice, and without prejudice to its budget. Almost all brokers now provide the opportunity to work on an educational trading terminal. Except that you will be risking virtual money, the training trade is no different from the present one, transactions are conducted in real time with current quotes and technical analysis data.
However, you should not flatter yourself about the results of educational trading. About 60% of traders act successfully on training accounts, and when they start working with real money, only 10% receive profit. The fact is that there are psychological difficulties in the transition from the demo account to the real one. With virtual money, people work more relaxed, they have no fear of losing real money. The point here is exclusively in psychology. This is the same as playing paintball and participating in a real shootout.
To work at Forex was not like a game of roulette, experts strongly advise to enter the market, armed with not only intuition, but also a proven trading system. If you do not trade on a whim, then you should work according to a clearly formalized plan. It should be clear to you at what combinations of certain market factors it is worth buying, at which ones to sell, and when it is better not to conduct transactions at all. It is necessary to form a set of signals on the basis of which you will make decisions, and then you will not have to suffer every time in search of an answer to the question of what to do.
A signal to action can serve as a news (political, economic, social) that can influence the market, as well as technical analysis data. Hundreds of various graphical indicators have been accumulated, showing how and when a currency can behave. Experts do not recommend trading, relying only on any one indicator, but you should not overdo it with their number either.
The global currency market is called the Interbank Market, and all the leading banks and governments are protagonists there. Operations are conducted very actively. There is also a third party. These are thousands, as if to say less - “not very smart people”, some of whom live in our country. For let's not compare the trader in Barclay's in London, which has access to all the key information, using professional trading terminals, which allow seeing the entire depth of the market and being served by a team of analysts, and Vasya Pupkin, who suddenly decided that he would soon become George Soros . When asked what he does, Vasya proudly replies: “I am a currency trader. Well, the international currency market, I work there, do you understand? ”However, Vasya can not worry. In no foreign exchange market, its dollars are not received. They settle down safely in companies that provide him with forex services. But more on that below.
In the West, fraud with Forex appeared somewhere in the 70s of the last century. The scheme was essentially the same as it is now on the Internet. Small offices lured gullible "clients", painted their wonders of earnings in the foreign exchange market, where everyone with a small capital can get a 1: 100 margin and buy "oh how much" of any currency, and then sell it more and make fabulous profits. Briefly explain what's what, signed a piece of paper that is familiar with the risks - and go ahead. “Clients” were in the halls, where displays with quotes and charts were placed, and “trading” was conducted by filling in paper orders and submitting them to the cashier. In the hall, “experts” (of the former losers, kept by swindlers) constantly moaned, talked about trade strategies with solid air, thereby stirring up interest among the suckers. This is a thimble game.
Naturally, “customers” thought they were participating in the international market. Nowhere they participated. Money from the office did not go out, lost and got the company. The “experts” sighed reproachfully. They said: “Well, yes, that's right, because to learn this takes time. Yes, and you have little capital. What will you do with a thousand dollars? Now, if more - then yes. Be sure to start earning. ” Naturally, the “experts” had their interest. They answered questions about personal successes very vaguely or lied without blushing. Go check it out!
Soon invented, “lo and behold!”, Trust money management. There was a beauty there. To unleash the sucker to bring, say, 20 thousand dollars and put in the management of “experts”. A month later, show him the left pieces of paper, compiled on the basis of already known past graphs. From the papers it followed that the bill had doubled. The jubilant "client", who presented himself as the future owner of various real estate and expensive cars, carries more money. They borrowed from friends, there were cases - they laid houses. For a while, the suckers were “fed” rainbow fake reports, and then something happened on the market, and “the client” was told: “Something extraordinary happened. Your money, no, not burned, they "stuck." Do not worry, you just need to bring more money urgently. The main thing is to stay in the game and everything will be fine. You saw how fast money is earned. ” And carried fuckers, clinging to the last hope. For a while, they were again shown fabricated reports that things were getting better, and then it all started in a new way.
“Finishing” the “client” was also very important. The sucker shouldn’t have enough strength to go around the courts, and money for expensive lawyers, he had to want only one thing - to forget this nightmare. The law of this business read - “The real divorce of the“ client ”begins not when he brought the first money (even if a lot), but when he lost it.” The first long-awaited loss opened up vast opportunities for further divorces. Little lost - "Well, now you understand what's what, it's time to work for real." Lost a lot - “Carry more, as much as possible. You’ll get it all back. ” All lost - “Also not a problem. Become an “expert”. Search for "clients". You will have a percentage. " Ukrainian "forex market" of our days, it does not remind you of anything ?!
Only having developed in the West, such offices went to Asia - Singapore, Pakistan, India, the Philippines. In the West, people are literate, they knew firsthand what the market for stocks, bonds, and licensing brokerage activity was. Mostly immigrants were caught there. In Asia, people have less money, but it is easier to work - the people are naive, the legislation is “dirtier”, it is easier to buy off in case of anything. The path of such offices resembled the history of famous casinos. Many lives were broken, a lot of families started up around the world and destroyed. Psychological trauma is difficult to overestimate. All the “clients”, often intelligent and educated people, were shocked when they learned how arrogantly and simply they were deprived of hard-earned money. The moral damage from this is much worse than ordinary robbery.
Many went to court. But there Foreksniki with smiles brought all the same documents signed by “clients”: “I want to trade, I’m familiar with the risk, I have experience (experience is what the“ experts ”have taught)”. Sometimes “clients” have sued something, but only a small amount. Forex is never discouraged. Moral preparation for the inevitable communication with menacing, crying and imploring “clients” was in advance. However, offices measure knew. Bring them a client a million dollars, they would hardly have taken. As for a million and in law-abiding America, sullen guys could come and politely ask to pay, and even with interest. Yes, and a person who has that kind of money, probably understands finances or finds someone to consult with. Not. The rate was made on the average amount per person of the middle class. Maximum tens of thousands of dollars. The risk was minimal. In the extreme (or not extreme, but in advance planned) case, it was possible to evaporate with money and open a new office in another place, city, and even country. Forexics were imprisoned a little, rarely and for a short time. They went out and did the same. Profitable business, easy money.
Years have passed since then. What has changed in Forex? In fact - nothing.The general scheme remains the same. The main thing has changed. The Internet and electronic trading appeared. By highly promoting the stock and other traditional financial markets through remote access, the Internet has brought a lot of value to currency scammers. Even the elderly “bison” of this business quickly made friends with the computer. Came “talented” youth. Foreksnikom opened new horizons. The coverage of the Lokhov audience has increased. Money flowed electronically faster. And it became more pleasant to communicate with “clients” via remote access. There was no need to see their anger, pleas and snot. However, do not think that business has become easier. On the contrary. It is necessary to organize everything technically, to keep a bunch of good and reliable (so as not to talk too much) programmers who are able to manipulate quotes, schedules and spreads at the right time.Also, there was a need to establish professional marketing, personal electronic communication with suckers. Competition again, free money everyone needs. But revenues are worth it.
Fedor Petrenko
Oligarch
Source: https://habr.com/ru/post/10913/
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