Forex Trading and Gambling – Any Difference?

Franky

I have been "in touch" with both – gambling and forex trading. Now after many years of experience I wonder whether forex trading can be called gambling and I would have to say, partially yes… but it is still a yes!

I as a forex trader place a forex trade hoping and praying for profits based on the movement of the forex market, which by the way I have absolutely no control over. Let the guessing game begin! I put the "odds" on a certain currency pair and if I am right in the predictions – I win. If I am wrong, though, I loose money.

Doesn't it remind you a bit of gambling yet?

The huge advantage of forex trading over gambling is that it is legal. Look at what has happened couple of years ago with online gambling in US. So many eager gamblers no longer have an access to online casinos. I am pretty sure that many of them would turn to forex trading if only they knew more about it. So if you aren't against the actual idea of gambling, forex market is just the right place for you.

Another important difference between forex trading and gambling is that you choose just the amount you are willing to loose. There is always a chance to bail out of a trade.

So yeah, forex trading is gambling, but there are much more options to control the money loss… just about enough to actually win!