What is Forex Ranking and How Does Forex Ranking Helps You?
By Space Coast Daily // June 8, 2022
What is Forex Ranking?
The foreign exchange market or Forex, FX and Currency Market is a global currency trading market, or as long as one country trades with another, there is a need for currency exchange.
The world’s largest forex traders are studies based on our advanced rating system. To help you get the best Forex investment.
Forex buyer ratings are a key and important tool for each trader, which clearly demonstrates the strength of the monthly market, the internal volatility of the trading companies, and most importantly – determine the list of reputable Forex buyers.
In fact, retailers use the term low spread, but only in relation to a particular retailer. It is commonly known as the “strong spread”. Distribution is calculated using the last digit of the buy and sell price, within the quoted price. When you trade forex or any other asset for CFD trading or a distribution betting account, you pay for all the spreads in advance.
This is compared to the commission paid when trading CFDs, which are paid both in and out of the trade. The spread is stronger, and the better value you get as a trader. So, you can be sure that if your seller gives you a solid spread, that’s fine.
Forex rate is a Forex method in which the trading of currency trading and the liquidity market position traders.
It is a way to compare Forex traders anywhere in the world. A foreign exchange trader is a company that allows for the exchange of currency between a customer and a business.
The Forex market is huge and in it, millions of companies are competing to provide their customers with the best and least expensive services.
Most Forex traders work with an online service that provides fast, cheap, and efficient service to clients. Leading Forex traders like Alpari and OANDA are in business for the right reason which is to provide clients with a simple and trouble-free service.
Who creates these types of scams?
Behind a Forex scam it is common to find fake traders or brokers, that is, they are entities or people who are not authorized to operate in the stock markets. They are unofficial operators who will try to convince potential victims of their professionalism and success, often with false information and documentation.
The truth is that these scammers will never meet their victims face to face, since they operate through the Internet or the telephone and many of the headquarters of these fake investment platforms are often abroad.
Who are the usual victims of Forex trading scams?
There is no single profile of a Forex trading scams victim, it can be people, and it is the desire to earn a lot of money quickly and with little effort.
Sometimes, these scams are aimed at people who may be experiencing financial difficulties, perhaps they have lost their job and are faced with an advertisement for “easy money”, the victim decides to invest the little savings they have in it, already convinced after some initial investments that have returned high profits, of making the rest of their savings available to the false broker.
As we said, there are different types of scams carried out in Forex, however, there are some quite common and that we are going to describe below, so that it is easier for you to identify them.
Forex pyramid scheme
The pyramid scheme or Ponzi scheme is a classic of scams based on investment schemes and, of course, is very present today among the most common scams used in Forex.
The goal of the Forex pyramid scheme is to attract early investors with promises of great returns on their initial investment, promises that are fulfilled that first time. These early investors are encouraged to seek out other investors, of course, they will share that information of the exceptionally good returns they have achieved.
Once the new investors are attracted, it is possible that this second batch will still receive enough profits to attract another new batch of investors and so on.
The deception is that the scammers use the money of the last investors to enter the scheme, to give the benefits to the previous ones, so that the investors at the top of the pyramid (the first to enter) do receive that supposed return on your investment, but the lower you go down the pyramid, the less money you make. Obviously, those who benefit the most from this are the scammers, who keep a good part of the invested sums of all the victims.
The normal thing is that the money of the victims never gets to be really invested in the foreign exchange market, or if it does, it is in a small amount, and in the end the pyramid ends up collapsing.
We have an example of this type of scam in the case of Forex Finance , for which its manager, Germán Cardona, was tried for the alleged scam of 350 million dollars.
The scam with Robot traders
It is also quite common to find purported sellers of trading robots or trading software capable of finding their users great opportunities to make profits by investing in Forex.
The objective of the scammers here is to sell these robots or software to victims who want to invest in forex, but do not have much experience or knowledge of this market. The so-called robot or expert trading program will do all the work for them.
Obviously, these robots and software are not as sophisticated and efficient as their vendors promise, they may be right at times, but the dynamics of the foreign exchange market make it impossible for this type of program, which is usually sold for amounts between 100 and 500 euros, are really worth a lot and after a while, usually not very long, the victim will see that they are really worth nothing and that they cause more losses than gains.
This is not to say that there are no automated trading programs that really work, but they certainly don’t cost that little money and are usually in the hands of the big financial companies.