The future of the Forex industry - page 6
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Some have probably gone into crypto, but the problems are the same there.
People have become more literate, it's getting harder for brokerage companies to fish in troubled waters.
Although I may be biased - forex (and later crypto) have always seemed murky to me, so I trade on IB, on FORTS. There's an influx of clients there, by the way.
I still haven't fully understood crypto - the huge volatility scares me. I don't think there are enough statistics yet to fit the general patterns of the currency market.
There are more investment services out there. Forex kitchens got lost among them )
No one wants to trade themselves all want to get into the "field of wonders" and chop dough without stress )
All the same, the future is in ATS.
The precursors of such a condition vary from one DC to another: disappearances of the chat room, phone calls, negligent treatment of clients and much more.
The problem is that when this symptom occurs, more often than not they no longer pay out, especially large sums.
There are some changes in the forex industry, but they are minor.
There is an outflow but not significant
Today, because of the crazy hype around cryptocurrencies, new potential clients of Forex are immediately attracted to cryptocurrencies for easy money.
They get familiar there, lose their money ten times and then go back to forex
I do not think that because of it the Forex industry will disappear.
For me the crypto exchange is a black hole where billions of dollars disappear in one day, so I will not go there without some real knowledge.
If brokers, like alps, if they make money, they will not go anywhere, on the contrary, they will attract more clients by placing additional platforms for cryptomancers
But you say that if all of them go down, then there is no place else but Forex offices where you can trade like that? ))))
There are real exchanges, like CME, they have the same currencies as the forex, you can trade... and they will not disappear anywhere because it is a professional real exchange where professionals trade with real contracts, not loosers who sit on cryptos.
As long as there are banks, there will be Forex. All will disappear if currencies will be pegged to gold and fixed exchange rates. But I think there is no going back.
That's all right, I started my working life in a factory. Then I worked in computer centres and design bureaus. I do not associate the factory with anything scary. Maybe because it was a computer factory. Maybe somewhere in a mine, an open-hearth plant or a rolling-mill plant is a little frightening. But even there, real men work hard and are not afraid of anything.
And those who are educated and have good computer skills are now in a good period, as many people work remotely from home on a computer. My daughter, an auditor for a large chain of shops, sits at home on her laptop, checking the reports of the shops and occasionally goes on business trips. She only comes into the office occasionally.
Do you think many people live off forex? More likely, it is an illusion, a game you don't want to lose.
I still don't fully understand crypto - the huge volatility scares me. I don't think there are enough statistics yet to summarise the general patterns of the currency market.
For me personally, the huge volatility is more of a plus. It means that you can work without using leverage. In this case it will not be possible to beat a trader by a stop out. The worst that can happen is a full depreciation of crypto, which is more than realistic. In addition, you can hold and withdraw crypto to your personal wallet, which is also an additional plus.
I wouldn't call it fear, but rather apprehension. It is rather unpleasant to wake up one morning and find out that your DC has gone bust and your money has evaporated, and with the trend of customer churn this becomes more than real. I don't think so about the factory, because I'm working in IT now. The wonders there are just as interesting. Recruiters are howling at the fact that they can't close vacancies and salaries are rising almost by the hour. 4K, 5K, 6K, 7K in dollars for a good professional is the reality of today.
P.S. I also discovered a very interesting thing. I analysed the subject in different social networks: facebook, linkedin, various telegraph channels. I have noticed that in trading brokerage there are very few people from Tire1 countries, most of them, judging by the social networks, are sitting there half of Africa and trying to sell their signals, education and management to everybody. To me this is a very telling indicator.
It turns out that there are closed Forex communities on social networks. Recently I was invited to telegram, but I could not get there because of limited login time. Still, I don't think you can find a better forum than ours.
Binary options are pure bottom. Pure ***. I don't know why people fall for it.
As for forex, I cannot agree with you. At least in theory, the currency is a tool for the global exchange of goods and it is backed by funds, raw materials, etc.. Where will it go?
In contrast there are problems with retail Forex. There are 2 of them in my opinion. First- the uncertainty about how to forecast rates (but this problem is solvable and everybody solves it for himself). 2nd problem is dealing with DTs that put everything in a wheel. If the retail Forex occurs, it will be because of dealer's fault.
But we should not exclude the possibility that more and more people use grail, and if earlier brokerage companies milked clients, now clients milk brokerage companies. DTs wait and hope and losses increase, then the margin call and stop out occurs.
Normal brokerage companies should and can live off the spread.
One Quantum PC will try to take money away from other Quantum PCs - same as always )
If traders will ignore the PNB, then, neither will the Quantum Comp. help.
I was referring specifically to the VC problem, although my personal opinion is that even if you don't consider VCs in terms of non-trading risks, forex is the worst tool to trade with. I could write my opinion, but that's not what the topic is about.
This is for sure and google trends clearly shows it. I attach 2 figures. Russia and the world.
What don't you like about forex?