My feeling is too many layman people got lured into forex and losing big money. Maybe it's similar like Indonesia (where I'm from), gambling is very illegal, many people never exposed to any form of gambling in their life. However the arrival of retail forex trading enable these people to use them like a gambling platform.
The whole situation is a combination of not-so-educated lower class people getting lured into get-rich-quick scheme, their silly believes into supernatural things such as luck, and government not being able to put in place appropriate safeguards over emerging forex industries.
I've seen so many people (even mutual friends and relatives) losing a very big proportion of their wealth and savings into forex trading. They have little or no knowledge about risk management and personal finance.
The situation is completely different than developed countries where majority are more well educated and government has strict regulatory control.
The whole situation is a combination of not-so-educated lower class people getting lured into get-rich-quick scheme, their silly believes into supernatural things such as luck, and government not being able to put in place appropriate safeguards over emerging forex industries.
I've seen so many people (even mutual friends and relatives) losing a very big proportion of their wealth and savings into forex trading. They have little or no knowledge about risk management and personal finance.
The situation is completely different than developed countries where majority are more well educated and government has strict regulatory control.