Global Forex Trading Firm Targets Click Happy Investors
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Global Forex Trading Firm Targets Click Happy Investors

GFT, a foreign currency exchange broker offers slick deals to new investors. But do their learning tools support investing education or their own profit margins?

GFT, a division of Global Futures & Forex, Ltd. is looking to catch the eye of first time investors with bonus offers, trade rebates, trading education software and a slick looking website. With guides, tours, analysis tools and tutorials available at every turn, unseasoned investors may quickly get the feeling that they know what they are doing. But is it enough to look only to the advice of one firm which has a vested interest in your business?

Mixed reviews on GFT suggest there is room for doubt. Some users complain of junk platforms crashing spontaneously, or accuse the company of outright theft. Others claim they have been with GFT for several months and are doing fine. It is no secret that foreign exchange trading is tantamount to gambling and that any investor must accept some degree of risk. It stands to reason then that the experiences of one reviewer or another is insufficient to judge an investment broker. And with no Better Business Bureau accreditation new investors cannot end their research on any such laurels. So, where to begin?

Inexperienced investors are advised to do their own research. To begin educating yourself about forex trading, experts say, it is best to pick up the newest bestselling book on the subject. This is because the latest books will contain information on the most recent nuances of the markets. Market Wizards: Interviews with Top Traders by Jack Schwager or Trading for Living: Psychology, Trading Tactics, Money Management by Alexander Elder are good resources. Experts also warn against what might be called the 'bible complex,' wherein a new investor is tempted to consider his or her sources of information to be infallible or compendious. New investors need to be immersed in market information at all times and can never rest on the authority of any single stagnant source.

However, GFT's education software may be a good place to start as long as inexperienced investors draw on a variety of resources. The firm offers an attractive free practice account along with its many other learning tools that, as long as potential investors are willing to take it in perspective and be prepared to do some critical thinking and research may be suitably educational. So, the verdict on trading brokers such as GFT, with their flashy interfaces and accessible virtual showrooms, is reducible to the general admonition of commerce: Caveat Emptor, the buyer beware.

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Comments (1)

Very useful analysis. Thanks !