I have seen @mwabilimwagodi and @maktejah_ talk about it...Ok Its time for some Forex Education

THREAD a.k.a Uzi

Ok, Forex Trading has come around this space via influencers trying to get guys to signup and trade for a diverse set of brokers...So brokers are the guys who facilitate your access to this market....there are many of such brokers, some are good and some bad...we will get there!

Forex trading is a "speculative market", implying that it's a game of probabilities from the word go...so this is where it gets interesting...the brokers will offer low deposit accounts but also they'll offer something called LEVERAGE.....let's look at leverage keenly

Leverage in simple terms is "borrowed capital" from these brokers that enables increased returns over time, it also increases the chances of your account going to zero....Statistically, new trader accounts don't survive the first 70days...they go bust..ZERO SUM GAME!!....

Why Zero Sum Game!!!....All speculative markets, like the forex market transfer risk from winners to losers....whether buyers or sellers...everyone is trying to get money from you...In this day an age you are competing with HFTs, skilled day and swing traders, hedge funds etc...

So back to Brokers, there are two types, The good and the bad, the good ones are located in well regulated countries while the bad ones are generally found in tax havens....the two business models are ECN and Market Maker...so let's differentiate

Ok, so ECN implies Electronic Communication Network, they are also called STP or DMA they allow you direct market access w/out any manipulation..Conversely, Market Makers are on the lookout to rob you by trading against you .in simpu terms, when you buy they sell and vice versa

Many countries dont have financial education meaning such info will pass many people who come across forex and the "forex evangelists" market it with flashy cars and as a get-rich-quick investment vehicle....so sneaky brokers will set up shop in your cities and rob you....

Forex requires an insane amount of study, I am in my 4th year of study and 1st year of consistent profitability......so if you are looking for residual income in forex, just know you have to put in work.....Many brokers are out here trying to get you to signup so they can steal.

Study hard, Use the right brokers, Use low risk/exposure strategies, Backtest your tactics, Make a trading plan and be disciplined ....you'll then be able to withdraw money from this market........don't follow influencers blindly.......peace

Oh,I forgot to say this, before you put your money into any business, do your due diligence......Nairobi the concrete jungle we live in has thugs in suits ........invest wisely, live modestly......you can ask me any question