The Editor, Sir:

I notice that several persons have failed to distinguish between forex trading, and investment schemes like Cash Plus in which money is loaned to an entity to finance its various entrepreneurial enterprises.

Forex trading, also known as currency trading, is a legitimate form of investment participated in by investors in countries such as the United Sates of America, the United Kingdom, Singapore, and others. Yes, it is high-risk investment, just as investing in the stock market is high risk. In the case of forex trading one is investing in the currencies and economies of nations, as opposed to corporate stocks and bonds. And yes, returns can be as much as 50 per cent per month. I cannot imagine that these people are ignorant of the facts.

Wide range of books

There is a plethora of legitimate books such as The Forex Revolution, Getting Started in Currency Trading, that explain currency trading, and numerous websites and companies that assist or trade on behalf of investors the world over.

Instead of demonising the forex trading phenomenon, entities in the financial sector need to put their nose to the grindstone and come up with attractive options for Jamaicans.

I can promise you this ... shut it down, and we will simply utilise forex traders elsewhere in the world to do our investing for us, and deposit our returns in the foreign banking system.

I am, etc.,

M. REYNOLDS

openearja@gmail.com