Is forex It Scam? If you have some experiencing trading and learning about Forex online, you have probably encountered mentions of such companies as FTMO, The 5%ers TopStepFX, and Traders4Traders.Most commonly such firms are called prop firms. Their model of operation involves offering funds to promising traders for them to trade with; in return, they ask a fixed monthly fee and a percentage of the traders' profit.Although these aren't traditional proprietary trading companies — the actual prop firms you might have read about in books — these work similarly to them and fill the same niche in the retail FX trading online.A more correct way to call such prop firms would be "scouting firms", but that's just a detail. As a trader, you are probably most interested to know whether they are a scam and whether it is worth signing up for one.Like with any other part of online Forex industry, the prop trading field is riddled with scams that are there only to make you part with your hard-earned money.Fortunately, if you go with one of the more reputable websites, you should be fine. Established players value their reputation while their business model lets them earn well on fees and profit share without resorting to fraudulent activities.What to be aware of?The good thing about the current boom of scouting (or prop) firms is that you, as a trader, have a very nice choice of working scheme, trading conditions, account limitations, exclusive features, and so on. If you decide to open an account with a prop firm, you should definitely shop around first.Why even bother?Spending money and percentage of your profits might seem like a bad idea, but if you have some profitable history and little extra funds to dedicate to trading, prop firms actually help a lot, providing the foundation capital, which is otherwise inaccessible to the majority of traders.Of course, if you have enough of your own funds to trade and earn living with, there is no point in a prop firm for you.See our copy service to mt4 https://bit.ly/3eGsjkd

Is forex It Scam? If you have some experiencing trading and learning about Forex online, you have probably encountered mentions of such companies as FTMO, The 5%ers TopStepFX, and Traders4Traders.Most commonly such firms are called prop firms. Their model of operation involves offering funds to promising traders for them to trade with; in return, they ask a fixed monthly fee and a percentage of the traders' profit.Although these aren't traditional proprietary trading companies — the actual prop firms you might have read about in books — these work similarly to them and fill the same niche in the retail FX trading online.A more correct way to call such prop firms would be "scouting firms", but that's just a detail. As a trader, you are probably most interested to know whether they are a scam and whether it is worth signing up for one.Like with any other part of online Forex industry, the prop trading field is riddled with scams that are there only to make you part with your hard-earned money.Fortunately, if you go with one of the more reputable websites, you should be fine. Established players value their reputation while their business model lets them earn well on fees and profit share without resorting to fraudulent activities.What to be aware of?The good thing about the current boom of scouting (or prop) firms is that you, as a trader, have a very nice choice of working scheme, trading conditions, account limitations, exclusive features, and so on. If you decide to open an account with a prop firm, you should definitely shop around first.Why even bother?Spending money and percentage of your profits might seem like a bad idea, but if you have some profitable history and little extra funds to dedicate to trading, prop firms actually help a lot, providing the foundation capital, which is otherwise inaccessible to the majority of traders.Of course, if you have enough of your own funds to trade and earn living with, there is no point in a prop firm for you.See our copy service to mt4 https://bit.ly/3eGsjkd