70trades – Why People Lose on the platform

Forex trading is a profitable venture, and that’s why you might have decided to give it a shot. You are not alone. Many have ventured into this industry to test their skills, but not all walk away with magnificent success stories.

Why? Forex trading can quickly get confusing, and you can end up losing more money than what you expected. One of the reasons why many people fight a losing battle is not getting a forex broker that can help them up the investment ladder.

70trades is a popular forex broker online today. Its way of operation is newbie –friendly and can be an ideal stop for beginner traders. With training and free demos, you might think that you’ve landed a broker that will help you earn a load of money for your efforts. To some, this has been a reality but not for others.

Is it worth using 70trades as your Forex Broker?

For you to answer such a question, we have to clear the doubts of 70trades being a scam. It’s just another forex trader with aggressive marketing techniques with an eye for the enormous profits you’ll make. A major red flag is that it’s located in Vanuatu, a significant location for “mini-brokers.” With as little as $2000 you can start a forex brokerage.

When you cruise through the site, you will notice that it looks like an old binary brokerage. This doesn’t make it stand out hence not a go-to platform for professional and experienced traders. A more considerable lot of the online community has stayed away for these reasons. With these setbacks. Does it become a scam? Certainly not. There are loads of advantages that override the cons. Let’s have a look at a few.

First of all, it’s a fact that the major concerns of traders are how safe the forex brokers hold their personal information. Therefore, the brokers must go beyond their brokerage boundaries to protect an investor in case of trading risk. 70trades has done more than that.

It has partnered with different banks which are verified with RBI. The customers can be assured that their deposits are kept safely in a clean and clear process. Plus, the brokerage doesn’t use the traders’ money as their capital to run their operations. You will also not get hefty slaps of huge commission rates as they don’t operate with intermediaries.

But why do people still make losses on the platform?

For a fact, not everyone who engages with 70trades walk away lamenting. They have numerous customers who are always happy at the end of the month. They believe that customers are the reason for the existence of a business. If they make their traders smile, they also smile together. It’s a win-win at the end of the day.

The reasons why you may not see the returns for your investment cuts across all forex brokers and 70trades isn’t an exception. In most cases, it rests on the traders themselves, which is a major downside of forex trading. Here are more scenarios.

· Being in a position where you can’t determine The Market Conditions

In forex trading, adaption to market condition is what determines if you lose or not. The forex market is not stagnant. It changes very fast, and a profitable trend now may not be the same in a couple of hours. With an eye on the changing trends, you can swiftly change and invest when necessary to get high returns on your investments. With a forex broker like 70trades that are clear in their policies, they can help you in the process.

· Trading with emotions

Revenge trading is an excellent example of trading with emotions. You throw good money after the bad because your mind and heart have taken the better of you. When you notice such a trader, know that he/she is not a good trader. Learn a lesson and promise yourself not to be like him/her. Emotions must be kept at bay for you to see something good come out of your investments

The Takeaway

There are many reasons as to why traders lose money. Whether you are using 70trades as your broker or any other broker there, the ball is still on your court. With awareness and the right trading strategies, you can be smiling to the bank. However, you still need a transparent broker like 70trades to be successful.