Many ordinary investors who trade currencies are a bit like casino gamblers: they may think they’ll win, but the odds are they won’t. Aite Group LLC, a Boston-based consulting firm, surveyed retail foreign-exchange traders in 2011 and found only 11 percent expected to lose money. Forty-one percent expected to earn monthly returns of more than 10 percent.
To keep such players from getting in over their heads, the National Futures Association has banned the use of credit cards to finance currency trading in the U.S., effective Jan. 31. According to FXCM’s 2013 annual report, 29 percent of its customers worldwide used plastic to fund their accounts.
More here – Bloomberg
