Are forex trade website safe?

Philippines
February 14, 2010 9:30pm CST
I am from the Philippines and I want to earn extra cash. I am tempted to risk $500 on forex trading. I want to know what is the best forex trading company I can rely on. Can you please help me on this? Thanks so much.
1 person likes this
3 responses
@MoonGypsy (4606)
• United States
15 Feb 10
i wish i could give you some positive feed back, but i have never invested in anything but my own business, in my entire life. this is on purpose because i don't trust that i won't loose my money. i have been hearing alot about forex trading and not good stuff. in fact, it has come up on a few scam sites. this is not to scare you. it could be that it just didn't work out for some people, and they called it a scam. remember, it is an investment in some kind of stock thingie. this means that you could loose your capitol, if i am not mistaken. i wish you luck on it though. how much do you stand to gain if it works out? also, what is the min investment. keep us posted on how it goes.
• Philippines
15 Feb 10
Thank you. I will definitely inform you guys in case I decide to join one. Take care.
@TAZNEM (656)
• Philippines
19 Feb 10
hi moongypsy ii am from southern Philippines. i have been researching about forex too. an yeah it definitely makes money but it has very high risk of loosing your money all together in one day if you dont know what you are doing. if your new to this stuff try the demo accounts first to see if you can lean all about it at least you would not be spending real money right. another thing is its not an easy way of making money because you have to spend lots of time monitoring the market which can be frustrating at times especially when you loose your money little by little in front of your eyes.. but if you are really tempted and you would like to try.. try using forex robots they cost about 150 dollars and it can make money for you even if your not 24/7 active. some of the forums says they make about 200 dollars a day with the machines.. visit my discussion about which forex robot is better.. best luck to you
@myliezl0903 (2726)
• Philippines
15 Feb 10
hi there! i am from manila philippines too. with regards to forex i am not sure if its for real ., my friend invited me to be part of that web but i am too confused and not sure if its legit,. some says it is but you have to be careful cause 500 dollars is not a small amount. try to research and ask some friends before you join and risk that amount. have a great day ahead!
@amripaarz (106)
• Malaysia
19 Feb 10
hi there, i too examined the same field. U can verify them in my discussions. Share ur experience tooo. keep in touch.