Is Forex Trading Profitable? Costs, Odds and Scams

September 21, 2026

6 minutes

Last Updated: November 4, 2026

Forex trading is not profitable for most retail traders: in Australia, only 32% of retail CFD clients made money after fees in the 2024 financial year, according to ASIC. On EVEDEX, EURUSD and USDJPY trade as perpetuals with explicit fees of no more than 0.015% maker and 0.045% taker, but costs and leverage still decide the result.

This guide shows what the data says, what forex trading really costs, why most retail traders lose, how to spot a scam and what changes with crypto forex trading on EVEDEX, where EURUSD and USDJPY trade as perpetuals. The figures come from the ASIC media release 26-004MR.

Key takeaways

On EVEDEX, a platform for multi asset trading, forex trades as EURUSD and USDJPY perpetuals with USDT margin, 24/7, with funding instead of an overnight swap.
Most retail forex and CFD accounts lose money after costs; in Australia only 32% were profitable in FY2024, and 19% among the most active traders.
Spreads, commissions and overnight costs apply to every trade, win or lose.
Leverage turns small edges and small mistakes into large results in both directions.
Guaranteed returns and paid signals without a verifiable record are the clearest scam signals.

Is forex trading profitable? What the data says

ASIC's review covered 52 licensed CFD issuers in Australia: retail clients lost more than $458 million in the 2024 financial year, including $73 million in fees, and only 32% were profitable after costs. The figures cover CFDs in general, not forex alone, but forex is the largest category of retail CFD trading and the cost structure is the same. The lesson is less that profit is impossible and more that the average account works against strong headwinds.

If pairs, pips and sessions are new to you, start with what is forex trading and our guide to beginner forex trading. And if you plan to trade through a CFD prop firm rather than your own account, the same costs hit the funded account, plus the evaluation fee.

What forex trading really costs

Three costs reduce every result before skill comes into play. The spread or commission is paid on every entry and exit. Holding a position overnight costs a swap at a broker, or funding on a perpetual. And slippage widens the gap between the price you expect and the price you get, especially around news.

Broker or perpetual: costs side by side

Cost item	EVEDEX: EURUSD and USDJPY perpetuals	Retail forex or CFD broker
Trading cost	0.015% maker, 0.045% taker per side, up to 35% cashback	Spread, sometimes plus a commission per lot
Holding cost	Funding, charged hourly, can be paid or received	Swap for every night, different for long and short
Leverage	EURUSD and USDJPY up to 150x on smaller positions (EVEDEX data as of November 9, 2026)	Capped at 30:1 on major pairs for retail clients in the EU
Trading hours	24/7, weekends included	24 hours on weekdays

Higher leverage is not an advantage in itself: it lets a small position control a large notional, which makes the cost of being wrong arrive faster.

Why most retail forex traders lose

No tested edge. Entering on gut feeling or signals means paying costs on trades with no statistical advantage.
Too much leverage. A normal daily move can wipe out a position sized for a calm market.
Overtrading. Every extra trade pays the spread again.
Moving stops. Letting losses run while closing winners early turns a fair win rate into a losing account.

Spotting a forex scam

The line between a losing trade and a scam is usually the promise attached to it. Be wary of:

guaranteed or risk-free returns;
paid signal groups without an auditable track record;
brokers that are not licensed where you live;
pressure to deposit more after a first win;
any difficulty withdrawing your own money.

A licence can be checked in the regulator's public register in a minute.

Trading EURUSD and USDJPY on EVEDEX

EVEDEX offers forex without a broker: EURUSD and USDJPY trade as perpetual contracts with margin in USDT, 24/7.

Forex costs: fees of no more than 0.015% maker and 0.045% taker before cashback of up to 35%, plus funding while a position is open.
Funding: calculated every 8 hours and charged hourly at one eighth of the rate; it can be paid or received.
Leverage: EURUSD and USDJPY up to 150x, falling as positions grow, according to EVEDEX data as of November 9, 2026.
One balance: the same USDT balance covers crypto, gold and stock perpetuals, which makes EVEDEX a venue for multi asset trading.
KYC: no classic KYC; you sign in with a wallet, email or social account, and every deposit passes an automated AML check.
Minimum deposit: 6 USDT; not available in restricted countries.

Perpetual contracts carry a high risk of loss.

FAQ

It can be, but for most retail traders it is not. In Australia, only 32% of retail CFD clients made money after fees in the 2024 financial year, according to the regulator ASIC, and among the most active traders the share fell to 19%. Profit depends on an edge that survives spreads, swaps and leverage.

There is no reliable average return. Regulator data shows that most retail accounts lose money over a year, and the most active traders do worse. A trader who wins slightly more often than they lose can still end up negative once spreads, commissions and overnight costs are counted, so results have to be measured after costs.

It does not have to be. Gambling relies on chance with a built-in house edge, while trading can be based on analysis and risk rules. Without a tested plan, position sizing and stops, though, high-leverage forex trading behaves a lot like gambling, and the costs work like a house edge.

Most retail forex traders make nothing or lose money. The minority that profits usually trades with small risk per position, low leverage and a long track record. Claims of steady monthly returns are a warning sign rather than a benchmark, especially when they come with paid signals or a broker referral.

Mostly because of costs and leverage rather than bad luck. Without a tested edge, every trade still pays the spread, overtrading pays it again, too much leverage lets a normal daily move wipe out a position, and moving stops lets losses run while winners are closed early.

On EVEDEX, EURUSD and USDJPY perpetuals charge no more than 0.015% maker and 0.045% taker per side, plus funding while a position is open. At a broker you pay the spread, sometimes a commission per lot, and a swap for every night a position stays open. Slippage adds to both, especially around news.

Guaranteed or risk-free returns, paid signals without an auditable record, brokers without a licence in your country, pressure to deposit more after a first win and problems withdrawing your own money are the classic signs. Check the regulator's public register before depositing anywhere; it takes a minute.

Yes. EVEDEX lists EURUSD and USDJPY as perpetual contracts with USDT margin that trade 24/7, with no broker account and no classic KYC, and some other derivatives venues offer similar contracts. You pay trading fees and funding instead of a spread and an overnight swap, and leverage risk stays the same.