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As you will watch in the videos below. Forex trading is not as easy as some people would want you to believe and forex traders blow their forex accounts on a daily basis.
In fact, statistics say that more than 80% of people, who try their hand in the forex trading markets lose their initial investment - which is called 'blowing your forex account'. Still, there is no shortage of forex traders or mentors - as they would want to be called, flashing their forex profits on social media.
If the video size is small while viewing on mobile, click video title on the video it will open YouTube and you can get a better viewing experience.
How many forex traders actually make money
What many people do not realise is that many of these so-called forex gurus have actually never traded a cent in their lives. They are basically making a living - the supposed forex withdrawals they flaunt, from the money that they charge beginner forex traders for forex courses, forex mentorship, forex signals, forex trading systems, forex robots and the sort - even affiliate fees from forex brokers after they recommend the brokers to their 'mentees'.
The funny thing is one does not need to be a successful forex trader in order to start selling these forex services - you just need to show the life on social media and can even go online slap together a 'forex course' and even sell wrong forex signals (just say the markets are too volatile or something like that) and you can still make money from new forex traders.
All this is perfectly legal - except when forex traders ask people to deposit money into their accounts so that they can trade on their behalf only to run away with the funds.
That is how money exchanges hands in the forex markets.
Not every forex trader is a scam
But this does not mean every forex trader or forex mentor is a scam. There are still around at best 20% profitable forex traders and forex mentors, who genuinely make their money from trading and can help a beginner forex trader navigate the forex markets.
You just have to do your research and usually if something looks or sounds fishy - do further research on it before parting ways with your money.
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