At a quick glance, one would have nothing but excitement and appreciation about the forex market. It is new, fresh, unexplored, and full of potential for the enterprising individuals. There are many paths to glory, and the choices that lead to wealth and power are rich and diverse. We’re privileged, as traders, to be living at a time when so many revolutionary changes are taking places in the brokerage business.

Yet that’s only one side of the picture. On the other side of the mirror, we see grimacing, scary faces, shady figures, distorted, fearsome reflections of those unknown, unimaginable creatures whose main aim is benefiting from the ruin of others. We speak of the thieves and crooks of forex, of course, the black knights of this already highly risky and dangerous game which promises so much, but at the same time can take away all our dreams and more, if we make the wrong decisions.

The crooks and thieves who are always alert and ready in the dark alleys of the forex world are not hard to recognize, due to their hideous and outlandish forms, and insane, often ridiculous claims, but the scandalous reality is that most of us do not make the effort to look responsibly at their faces, and prefer to float among the bubbles of false confidence inspired by the marketing techniques of the liars. It is not hard to recognize them: they promise to quadruple your investment in three months, offer to sell risk-free techniques strategies for a few hundred dollars, invite you to a secret underground brotherhood of privileged geniuses for a fixed weekly fee as you receive trading tips and tricks of dubious credibility. There are also the arch-demons behind the shades, those who really do their research and preparation before they assault your common sense, and set themselves up with the makeup of a legitimate firm offering forex trading. Yet they too can be avoided with a little bit of diligence. In the majority of cases, ensuring that your broker is regulated will keep you away from the clutches of the feared demons of forex.

The hapless beginner will often perform a couple of winning trades with a forex demo, convince himself that he’s doing very well, and has the flair, talent, insight for trading, before going on to open an account, and wiping it out, and wiping his copious streams of tears from his face. That is a very unfortunate situation, yet once again, it is easy to avoid. By using the demo account as a basic trading tool, setting out strict criteria for increasing the size of your account, and testing yourself only with a mini-account you can easily avoid the most outrageous disasters that destroy the careers of so many aspiring forex traders.

If it sounds too dangerous and risky, keep in mind that your risk is yours to manage. With really low leverage, and a moderate pace of trading, you’re extremely unlikely to wipe out your forex account in a short time, however hard you try. If you play, the market will play with you as well, although the odds are unfair, and the markets punch is thousands of times stronger than even the strongest blow you can deliver. So take heed of our word, and take your precautions before jumping with closed eyes into the thick of the market action. You have only yourself to blame if things go badly, but of course, if you are proven to be right, we will not mind being the butt of jokes. In all cases, we wish you the best of luck.