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ASIC: 63% of Forex traders loose money

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  • ASIC: 63% of Forex traders loose money

    People often say that 95% of traders lose money, but so far there haven't been any official statistics to back up or disprove that claim. Now, however, we finally get some actual useful data:

    According to a recent survey by the Australian Securities and Investments Commission (ASIC) among 57 of forex, CFD and binary options brokers, 80% of Binary Options traders lose money, while the percent with CFD and forex traders is 72 and 63 respectively.

    The findings are published in June in a paper titled “Improving Practices in the Retail OTC Derivatives Sector” and come as a warning to all forex, CFD and Binary options brokers in the country.

  • #2
    Originally posted by mlawson71 View Post
    People often say that 95% of traders lose money, but so far there haven't been any official statistics to back up or disprove that claim. Now, however, we finally get some actual useful data:

    According to a recent survey by the Australian Securities and Investments Commission (ASIC) among 57 of forex, CFD and binary options brokers, 80% of Binary Options traders lose money, while the percent with CFD and forex traders is 72 and 63 respectively.

    The findings are published in June in a paper titled “Improving Practices in the Retail OTC Derivatives Sector” and come as a warning to all forex, CFD and Binary options brokers in the country.
    Very interesting information, thanks for sharing.

    Comment


    • #3
      Useful and interesting post, thanks.

      Comment


      • #4
        If you want some more info on this then check out these guys (who are linked t AxiTrader)

        This is some of their blog material on fact or fiction such as the 95% of traders lose theory

        https://psyquation.com/blog/en/myth-...busting-series
        https://psyquation.com/blog/en/myth-...busting-series
        https://psyquation.com/blog/en/myth-...busting-series
        https://psyquation.com/blog/en/myth-...busting-series
        https://psyquation.com/blog/en/myth-...busting-series

        Comment


        • #5
          what's about FXViper? Is he profitable trader or looser? He deleted all his myfxbook accounts because of huge loss or account blow.

          Comment


          • #6
            What surprised me the most was the binary options percentage of people losing money. The Australian binary options traders must be either better at it or their brokers are more honest or both, because according to a similar FCA survey, Brits lose about GBP 87,000 per single day to binary options.

            Comment


            • #7
              Meaningful link, thanks for sharing.

              Just a random question from my mind, let's talk about Binary options: "does this value of losses from 80% losers transferred to 20% winners? OR
              brokers is grinding that these were transferred to 5% winners and rest 15% scammers?
              Sounds scary for sure. Either way, both must be getting very rich.

              Comment


              • #8
                Ask a broker ,how many of their client make the same wage in trading like a McDonald’s worker in the country they are coming from and have done this over a 5 years period .

                Comment


                • #9
                  Originally posted by monira View Post
                  what's about FXViper? Is he profitable trader or looser? He deleted all his myfxbook accounts because of huge loss or account blow.
                  Loser of course have been that last 3 years

                  Comment


                  • #10
                    Originally posted by Kavka View Post

                    Loser of course have been that last 3 years
                    I don't think we really know about how Viper is doing although his DD was certainly growing before he shut down his FxBooks. He claims to be going after account sizes of 1 million and up. I don't believe those folks use MyFXBooks. All I really know is that I was one of the fortunate ones that Jeff made good profits for back in the 'Good old days'! I also know that I could not have trades without SL's' anymore.

                    Cheers,
                    Rod

                    Comment


                    • #11
                      More data came out of Australia - the Australian Competition & Consumer Commission (ACCC) has issued its Scamwatch report for the first half of 2018, which marks a troubling rise in investment scams. The report reveals that Australians are collectively losing $4.3 million a month to scams in the sphere of cryptocurrency, binary options trading, as well as traditional investment markets like stocks, real estate and commodities.

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