Forex and the Philippines

It seems like forex is already off to a bad start in the Philippines. If you would do a Google search for "Forex and Philippines", you will get the recent news about the Performance Forex office being raided by the NBI. But if you try "Pinoy Forex", you will find my blog on top of the list. Yey!

So if anyone would ask Google on who is the authority on "Pinoys who do Forex", that would be me. Whew! That is a very tall order for someone who just started blogging and recently got a margin call.

My point is, forex trading in the Philippines is still in the infancy of being known as a legitimate investment tool. And before it was able to reach the conscious minds our fellow citizens, it was already tagged as a scam. Take for example the FrancSwiss and the Performance Forex fiasco(I do side with PFEC because they were only the forex broker of that guy who did the scam).

It has always been my belief that for any Pinoy who is interested in investing in anything, be sure to make the necessary research and background check of what or who you are investing into before you dive into the investing game. And if you heard that investing in forex will give you huge returns it is probably true but then you should also remember that it also entails huge risks.

So to end this post I am finishing off with this simple equation of investing:

Returns = Risk

Hey this is a good topic for my next post! Ok watch out for it next time.