Forex trading is a legal way to supplement your income. But, there has been an increase in forex scams. Before you start trading, it’s critical to understand how to spot a forex scam.
The Forex market (FX) is the world’s largest trading platform with over $5 trillion daily trading. Also, the market runs for 24 hours daily – so, when trading ends in New York, for example, it starts again in Hong Kong and Tokyo.
However, the cycle goes round and round again. This volatile market can make one lose or gain money due to price fluctuations, so there is a need to be mindful of Forex scams. Forex trading is instantaneous at the FX market, and currencies are traded in pairs like the United Kingdom’s (£) with the United States ($) or the United States ($) with EURO.