Daily Forex #1 - Will Forex Trading Be Banned?
Will Forex Trading be banned? This is a question that alot of retail traders have asked me over the years.
Take a moment to think about this. What exactly is Forex Trading?
- Going to the money changer to exchange your country's currency for another country's currency.
- Toyota in Japan selling cars in United States for US Dollars and then exchanging that back to Japanese Yen.
- A Filipino domestic helper working in Dubai sending money back to her family in the Philippines.
- Ryan sitting infront of his computer screen entering a EUR/USD trade.
The answer is all of the above. Do you still think Forex Trading will be banned? If that happens, the whole world will come to a standstill because there will not be any international trade. People stop going for holidays thus killing the tourism industry.
Some countries might try to regulate Forex Trading by implementing strict guidelines for Forex Brokers who wish to set up an office in that country. However, we can always choose to trade with a broker that is based outside our own country.
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Personally, it would not be very cool for me if forex trading was banned because this is what made me start living well. After all, this is a great income. Those who believe that it should be banned, I advise you to read the detailed article
in order to understand that there is nothing wrong and not hack in this!