Is forex a form of gambling
By hotsummer
@hotsummer (13835)
Philippines
July 22, 2021 2:25am CST
They will say its only gambling when you don't know how to minimise the risk. But I'm not talking about the skill to lessen the risk. I'm talking or asking about is if forex gambling in itself regardless if it is risky or not.
As I don't understand the source of potential income from this. Where is the money coming from. Would The winners get their money from losers. If that's the case it is gambling indeed.
If this is gambling like casino, where money comes from people that loss then I don't want it. If it's like selling currency and buying then it is okay. If its like buying commodities cheaply when buying in bulk and selling them in regular price then its legitimate business.
6 people like this
7 responses
@LadyDuck (457918)
• Switzerland
22 Jul 21
Forex is not gambling at all, but you must know what you do. Basically you bet on a currency, if you think that the US$ would go up you buy dollars, let's say against EURO, and sell to buy back EURO when the dollar goes up.
It is a serious trading like trading stocks it's not gambling.
1 person likes this
@hotsummer (13835)
• Philippines
22 Jul 21
Okay. That's very clear answer. Good then its not gambling in literal way
1 person likes this
@hotsummer (13835)
• Philippines
22 Jul 21
@LadyDuck Okay. What happens when we buy the currency in forex.. does it help a currenncy
1 person likes this
@LadyDuck (457918)
• Switzerland
22 Jul 21
@hotsummer Believe me it's not at all gambling, currency trading is a serious profession. Imagine those who have to buy goods in another country and pay with a different currency. It is important to trade the currency when it is not too expensive.
@janethwayne (5193)
• Philippines
22 Jul 21
I am seeing Forex add everywhere and it looks very interesting but I did not try to join.
1 person likes this
@Vikingswest1 (6305)
• United States
22 Jul 21
Currency values fluctuate constantly.
Trading currencies is similar to trading stocks. Buy low, sell high.
You earn by buying and selling world currencies. There is risk. It is gambling.
This link should explain everything.
Forex Trading for beginners. Learn what online forex trading is and how to profit on the currency markets. Strategy, tips, mobile apps and brokers.
@hotsummer (13835)
• Philippines
22 Jul 21
I do trade before. So you mean its 100% gambling meaning morally it is wrong or a sin
1 person likes this
@hotsummer (13835)
• Philippines
22 Jul 21
@Vikingswest1 so basically it is like gambling on a business you want to succeed on but not literally gambling like on a casino
@Vikingswest1 (6305)
• United States
22 Jul 21
@hotsummer
Any time you risk money for an uncertain outcome, you're gambling.
You are gambling on a favorable outcome.
It's perfectly legal and breaks no moral code.
But you're still gambling just like you would gamble on stocks.
@Belexhanns (3431)
• Kampala, Uganda
22 Jul 21
I wanted to try but my friend told me its gambling, and I do hate gambling now
@hotsummer (13835)
• Philippines
22 Jul 21
Yes i hate gambling too. Better not do it then
1 person likes this
@Sathyabo (866)
•
22 Jul 21
I never tried forex trading. But I am sure its not gambling. I am doing stock and commodity trading. The loss or profit its fully depends upon your skill, patience and etc.
