Forex Income Boss

Without doubt, the first thing to understand about Forex is that you do not simply give your hard-earned money to some supposed Forex Guru to trade (ala Bernie Madoff.) No, in Forex there is excellent transparency because the first step you take is to set up your own account in your own personal name or the name of a business entity you control. Accounts are set up by highly regulated Forex brokers. These brokers are registered and regulated by the National Future's Association. The great thing about this transparency is that whether you have your money traded by a Money manager or trade your money yourself, either way you know what's happening with your money 24/7.

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A key player in the transparency of Forex is the Forex Broker. The Forex Broker must comply with several requirements inorder to qualify to be a Forex Broker in the US. As such these brokers must be financially sound and solvent in order to be a broker. That is extremely limportant because if you trust your money at an unregistered Forex broker abroad then there is certainly less protection for your capital. Thus setting your account up at a top notch Forex broker that complies with the US regulations does provdie some peace of mind. In addition to security of your funds, the Forex broker generally provides access to your account online so you can track your account 24 hours a day in real time. Compare that to mutual funds, your 401k, and other investments that are much slower and definitely less transparent in being able to track and you realize that Forex provides some advantages that these other investments simply do not.