Forex Myths

It’s hard to make money in Forex

Could that be said for any market? Is making money ever easy? Also, how can that be substantiated? Hard for who?

No one’s making money in Forex

Bank of America claims foreign exchange as a major source of income. Money managers such as FX Concepts, John Henry, and Alex Merk are all making millions. FX Concepts has roughly 10 Billion assets under management by some measures. FX Brokers are some of the fastest growing companies in USA according to Inc. 500. Interbank FX is ranked #8, Gain Capital is ranked #32 . George Soros made much of his fortune speculating in currencies .

Conclusion

The conclusion of this article is that for the Forex market, there isn’t enough data to make any solid conclusion. Significant effort should be spent compiling and analyzing data about Forex trading and investing. In a series of articles, we will attempt to first define the problems, collect data and sources of data, and engage FX experts in a series of interviews and discussions.

With existing tools it is possible to trade and invest in Forex, but without full information sufficient to make any conclusion, we are left with only the path taken by Diogenes , searching for an honest answer.