In my opinion, the entire branch is sick. The entire branch is sick. The entire goal is to rid their clients of money. Forex, in the most part, is a scam. Because Forex platforms are being operated by companies to who you lose these funds. So they’ll do everything in order for you to lose these funds. You mean evil brokers, or… Yes, brokers.
Yes, you know, they have adverts for these offices, secretaries in high heels, but where do they take it from. These money. From their clients. Who often don’t know what Forex is. They don’t know what Forex is and play against them. If I transfer 100 thousand and lose, or million and lose on Forex, often it goes to Forex platform. Because it’s playing against your own broker. Sometimes there are some options against the market, supposedly, but I think it’s fiction and it’s against brok… Because it’s the best business. Accept a deposit and let it drop. Let it lose. But KNF has already looked into it, pretty seriously. Previous year. But you look into some, hundreds will be still doing it, then you forget about the first ones and they go back to operation.
But it’s the people’s fault. KNF controls them, they need to fulfil some requirements, but if someone won’t check if they’re on the KNF list, of the ones approved by KNF, then… It’s a tool that might help somebody, right, but what does it matter if, in my opinion, the entire branch is sick. The entire branch is sick. The entire goal is to rid their own clients of… That’s the business plan here, let’s not pretend otherwise. In practice, that’s the business plan, to rid their clients of money.
They offer free courses, they… Webinars, similar things. Why do they do this? So you transfer and lose, to them. Not to the market because it wouldn’t serve them. If it was losing to the market, theoretically, so the other side would take… the one with reverse position, and they 2% from it… It is not as nice as taking 100%, from your loss. 2% from your loss, right? It’s nice to take the entire loss, like in a casino.
In a casino, if you lose, if we go to a casino and we lose, then a casino takes. Plus government, there are huge taxes on casino losses. Based on what you’re saying, it looks like Forex doesn’t have any value. The concept was to determine exchange rates of currencies. And play on volatility. No, no. The concept was to be able to determine how much Euros the Dollar is worth. How much Dollars the Euro is worth. How much Yens for the Dollar. But also on volatility, if someone plays on drops and so on… That’s a secondary fun. The original concept was for the world to be able to determine the value of fiats. To know how much one currency is worth in another currency. But what developed later, that entire casino-fun… Now also high frequency trading, meaning computers, super computers, for big players… Indeed, they don’t use brokers. Or traders. They install super computers.
You mean they make some software that does it. Of course, of course. No human, so quickly, in such detail, without emotions, is able to play like a super software written for J.P.Morgan. Also, thinking that you can face it, if you’re playing to the market… Against a super computer written for J.P. Morgan by, I don’t know, twenty finalists of Chinese olympics in mathematics… That you, in your home, in your flat on a loan, will destroy them… It is funny, it is hilarious. But people have such aspirations, after all. I know. It corresponds to their needs. Have aspirations to sing, have aspirations to invest, they have, they have. Okay….
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