The Chief Executive Officer of CD-FX Gold Investment Limited, Mr Favourmartins Nakey said there is very big risk in forex business and that it is highly volatile.
He disclosed this yesterday in a chat with newsmen at his office in Asaba.
Nakey said forex business is meant for only those that could stand any shock in business, adding that it is not meant for babies because according to him, it is not a tea party.
He said it is easy to make loss in forex business and equally easy to make great gains because of currencies involve in the trade.
While saying that CD- FX Gold investment terms and conditions is always made known to investors before they invest, he said the company is out to guide investors, give them proper information especially on when to invest, how to invest and when not to invest.
He said peradventure there was a default or economic loss or Government policies or trading in international market or failure in business, that the company would pay one percent of the initial take off capital of the signed package as compensation to the investor because according to him, it is a business of win and loss and risk taking.
The CEO said the company is not into Sweet talking people to invest, but rather, it is out to tell people the truth on the dangers in the business to enable them take decision whether to invest or not.
Forex business according to him is a good business, opining that one could become a billionaire in one hour and equally a poor person in one second, adding that life is all about risk taking and those who take risk are those who make it in life.
He said forex market is not owned by one person, but a market where seven hundred trillion dollars is being traded daily, hence people would win and people would loss as well, saying it is all about risk taking.
He said trading CFD’s and foreign exchange on margin carries a high level of risk and may not be suitable for all investors because the high degree of leverage could work against one as well as for one.
The business boss, said before deciding to trade foreign exchange that one should carefully consider one’s investment objectives, level of experience and risk appetite.
According to him, the possibility exist that one may sustain a loss of some or all one’s initial investment, calling on investors not to invest money that they can afford to lose.
He said investors should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial adviser if there was doubt.
He called on Nigerians not to borrow money, or sell their properties, or use money meant for family up keep or their gratuity to invest into forex trade, but rather they should invest what they can afford to lose.