Forex is a foreign exchange market. Currency are bought and sold in forex market. If you think that price will go up you have to put buy call and if you think that price will go down you have put sell call. If your prediction rights then you make profit. But if your prediction is wrong then you lose money. To trade in forex trader need a broker. I am trading with CapitalsTrade.
My trader said, the minus number (or the open drawdown amount) has been used to sell the currency at a target price next month on a certain date, if I cancel it now I will lose this number so I must wait on that day, then he will convert everything back to my original currency and I will get everything back , I won't lose anything, he said.
Does it sound legit? It's possible to do this on this app right?
He said my account has been closed and the capital will be restored back to the original price next month... but I can still see trades... I'm beginning to doubt my trader... I don't know if it is just that i don't understand how it all works?
Well he told me the negative number indicates a floating rate , not a loss and I can't get my balance back yet because it was place on buy a target price in February but since i have requested for my balance back I'll get it back in February once the target price has been released.
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Forex Risk Warning: Due to leverage, Forex comes with a high risk of losing money. Eighty to 90 percent of Forex traders lose money. You should not invest money that you cannot afford to lose.