Iām interested to know? Is it just network marketing?
Thatās a fake dialogue. Whilst you can theoretically make money on forex betting, in most cases you will lose everything you have put in so ideally never get involved in such things
They make their money by getting people to sign up and learn their āsecretsā. Itās all bullshit and youād just end up with no money.
EDIT: What @Vlad said.
Sneaky! Cheers
Basically what everyone else said.
Itās affiliate marketing, they get healthy commissions from CFD/Spread Betting operators.
Avoid, canāt stress it enough!
@neovo, binary options, which is what I think the message was referring to, is not FX trading. Itās effectively gambling and is incredibly destructive. They use terms like binary options to provide a sense of credibility and legitimacy, but unfortunately itās smoke and mirrors to disguise what is essentially a betting product.
What @vlad and @saf said is 100% correct, and if youāre playing with CFDs in particular, your losses can quickly exceed your initial capital outlay. i.e you can end up owing a lot more than your original punt. Thatās not to say CFDs (contracts for difference) donāt have a function, but they are complex financial instruments, technically not aimed at retail investors, unless considered āsophisticatedā. Markets move quickly, and you could be nursing large, possibly ruinious losses.
Itās late now but I will try to dig out and post a couple of articles that you might find interesting on the subject. Edit: [links now added]
Fake it till you make it: meet the wolves of Instagram - Guardian Long Reads
This combined with āRevenue Shareā model of some affiliate schemes tells you all you need to know about whoās really winning.
For most investors, CFDs are one of the worst forms of gambling because you can lose multiples of what you have, retail investors shouldnāt be exposed to them but here we are. It gets even worse when you consider mind frames like chasing your losses or feeling winning is guaranteed.
Well, you can get a free lunch by joining the team for our community lunches. DM @Freetrade_Team if keen. Just sayin!
If you want a idea of how lucrative CFDās are look at CMC Markets final results for the year ending March 2018. Especially notice Revenue per active client was Ā£2,964 and this is defined as āRevenue per active client represents total trading revenue from CFD and spread bet active clients after deducting partner commissions and leviesā
Also consider that the FCA said this year: āaround 76 per cent of users lose money on themā