The Forex market is a market where people can buy, sell, exchange and speculate on the world’s currencies. Participants of the Forex market includes banks, commercial companies, hedge funds, investment management firms, brokers and investors. Now to answer your questions, we firstly need to clarify if ‘legit’ is referring to whether Forex Trading is actually a scam or if it refers to the ability to earn a profit as a Forex Trader.
Is Forex Trading Risky?
Ultimately, Forex trading is high-risk, and even with knowledge about the market, every trader does take losses. Forex trading is not for everyone, but if you have the correct expertise or are receiving advice from someone with a strong understanding of the market, then it is certainly a market that will help improve your knowledge of the world and can certainly make you a large profit.
Trade virtual money first: We recommend that If you do want to start forex trading, then at least start with simulated trading.
However, only do this on a trusted platform because there are many scams on platforms that falsify your trades and make you think you are making a return on your virtual investment luring you into committing real funds. Only use credible platforms Like Forex.com etc.
You could also read about a tool that may help with your forex trading also read our review here.