Money & You

Forex forex or not 


The currency market is highly risky and requires extensive knowledge to negotiate on it. Learn how. 


When trouble breaks out of the pyramids and the illegal collection of money, the international currency market (Forex) ended because some companies were challenged to justify the high yields offered to alleged investments in this market. Such is the case with Forex Capital, a pyramid that functioned in Tulua, Buenaventura, Cucuta and Armenia but whose performance had nothing to do with buying and selling currencies. But it also found companies that were promoting the product without proper authorization from the Superintendence of Finance, as Evolution Market Group (Finanzas Forex), an entity supposedly set up in Panama, which also did not have a license in that country. 

This situation made pillory andalusia Forex and created the public perception that this type of investment was a pyramid, when it is one of the largest financial market in the world, where anyone can go through electronic means buy and sell all kinds of currencies (dollar, euro, yen, pound sterling, Swiss franc, etc.). 

In Colombia, a person can legally Forex through two mechanisms: searching for a broker or do it abroad in Colombia through a representative office of a broker or correspondent abroad. 

In the first case, if the investor has the resources in Colombia, the country must be removed using a Forex broker (bank, agent, money exchange) as if it were an international money order. Therefore, you must declare the source of the resources and the declaration of change at the Bank of the Republic. 

The recommendation in this case is to invest in a broker recognized in history, supervision and monitoring of state agencies, and use formal channels to turn the money to the account abroad goes with which to operate. Do not hand over money to anyone. 

When it comes to a representative office or a correspondent who has one of these brokers in the country with international entities duly authorized by the Superintendence of Finance to promote your product, be sure to check the references of the body and remember that all service and transactions are made outside the broker. Ie, the entity in Colombia will have to certify that you opened the account with the broker and international resources going to that account. In this case, turns to the outside that you make are also registered with the Central Bank. 

So far, the only entity authorized by the Superfinanciera is Fit Forex Investment Team AG, Representative Office in Colombia of Forex Investment Team AG, a Forex broker based in Switzerland. 

How to invest in Forex? 

The broker on the outside and the representative office will provide the platform for investors to trade in the currency market. The client decides whether he negotiates directly, or delivered to a trader of the entity responsible for negotiating (account management). 

After having a clear path to access the Forex, remember that this is a highly risky market because it can obtain high yields in short periods of time, given the high volatility of these markets and the high degree of leverage can also be losing the entire investment. With deposits ranging from U.S. $ 300 could take positions up to $ 60,000 by making small changes in the price of currencies can lose or win a big business. Thus, we must be clear that no one can guarantee profits in Forex fixed. Do not trust companies that guarantee a high profitability in the short term it will have to take very high risks to generate or are doing other things. 

Speculation in the currency market should be done with money that can be risky and that if lost would not affect the financial situation and lifestyle of the investor. This money does not guarantee or state funds or deposits in Colombia or abroad. It is the investor who assumes all risk, so you must learn how to do very well. 

For Margarita Baez expert Forex and legal representative of Fit Forex Investment Team AG, if someone wants to negotiate on their own should have a lot of discipline, focus on a few markets, in depth and meet daily. "The main problem is that investors in one day want to return millionaires. And this is a market which requires a lot of discipline ... The negotiation strategy is to recommend that the risk is what might be easily retrieved. This is your stop loss (loss limit), "he says. 

The entities have demos (demonstration software) for people to try the platform before investing. If you decide to invest directly, do so on computers themselves (never in an internet cafe), but if you do not have time to operate or do not know how the administration may seek from an expert (managed accounts). In this case, be sure who is the trader, his record transactions, check their profile and experience, talk with clients who have run it. In short, anything that lets you know the type of professional who is giving money. Fit in these accounts are opened from U.S. $ 25,000 U.S. dollars. Remember that the Forex managed account must be in your name and all or part of their funds can be withdrawn at any time you want, no fines or penalties. 

Whatever path you choose, keep in mind that resources should never be handled through intermediaries in the exchange market, nor are they required to deliver to individuals.