Saturday, July 23, 2016

The risk of trading

Dear Mr. Tan
I have attended your financial planning talk previously. Recently I took an interest in trading, having read many successful stories of Singaporeans getting rich within a short time. It does sound doubtful, moreover I have zero knowledge of trading. However I came across this article in straits times online which reads our yet another success story.

I can't say I'm not interested. I have registered at their site but have yet to verify the account and start trading. Their registration costs $250, and the site asks for verification photo taken of personal ID in addition to credit card details and home address and phone no. I am wary of this as I'm very new to it. I would like to seek your advice on trading. Is it advisable?


Trading is just like gambling. Sometimes, you win, sometimes you lose. But the chance of losing is higher, as you have to pay for the expenses of the people running the trading platform.

If you trade on a platform, you also face an additional risk that the platform may "cheat" the customer, or put pressure on the customer to engage in more trading activities. You need to be sure that you are using a reliable platform. I do not know the reliability of


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