Many people are investing money in currency trading profession to make their life better. This is one of the biggest markets in the world and you will be amazed to know that more than billions of dollars are being traded every day. The best thing about this market is it is global. There is no boundary and you can trade and open the account from anywhere in the world. There are many countries that do not support currency trading but this number is decreasing and many countries are allowing retail traders to trade the financial instrument. As it is the biggest market, it is possible that there will be many scams and there are scams. When you open your account, you will find that small time scammers are trying to make money off you by saying they have got the best strategy. This strategy can work in any markets and you can be rich within months. People will also come to you with automated trading platform claiming this platform can predict what is going to happen. Among all these scams, it is possible to get lost in your way. Many traders have this belief that brokers and hedge funds can rig the Forex market. The reason behind their belief is they cannot make money. These traders have traded for months but have not made the profit where these hedge funds are making the huge amount of money every day in their trades. This article will tell you if these hedge funds and brokers can rig the Forex market.
This trading industry is so huge that no one can manipulate the price feed. Since this market is free from global manipulation, most of the people in Australia prefer currency trading as their alternative source of income. Those who understand the market much better consider it as their full-time profession. But before you start trading the live asset, you have to prepare yourself to embrace your losing trades. You might have extensive knowledge in the retail trading industry yet you will have to face losing orders.
Trading is one of the most sophisticated professions in the investment world. You can easily have the best Forex trading account Australia, but this will not make you a rich person. Learn the technical and fundamental parameters of the market so that you can easily filter out the quality trades. Develop strong patience so that you don’t have to lose a big sum of money.
Active traders in currency market
The first thing that you need to know if they also trade in Forex market. When most of the people think these hedge funds and brokers only give advice to the people and they never trade for themselves in Forex, you need to know they are also active traders. They are not like you and me but they trade with millions of dollars. If these markets could be rigged and if they could rig this market, it would be profitable for them. There are4 some reasons why these hedge funds and broker cannot rig the market even if they wanted to rig it.
Global aspect of trading
This market is global and it is monitored globally by the Forex authorities. They know there is money involved and they keep a close eye on all the transactions. If any hedge funds or brokers were to adopt any unfair means, they will be caught. Besides, they have money in their account and they do not need to rig the market.
Global market, impossible to rig
As this market is global, it is not possible for the hedge funds to rig. They may trade with millions of dollars but this market is global. All the countries are trading and there are few chances of being rigged. The next time you are trading, know that you have to be extremely cautious about your trade execution.