If you don’t like the idea of Forex trading, trust me, you are not alone, nearly all struggling Forex Traders are looking for ways to make money from Forex without trading. This is so, because the way the Forex market is structured, some people will make profit and some people will make loses, it either you are in the profit group or in the loses group.
Yes, there is always a risk of losing money in the market; the only different between those in the profit group and the loses group is patience, experience and knowledge; does it mean that trading Forex is not profitable? of course not, trading Forex is very profitable but it’s requires a combination of skills, however, if you are not equipped with such skills instead of blowing your account continuously, it’s good to explore how to make money from Forex without trading.
I am a great advocate of Forex trading, I have mentored over 200 successful Forex traders who are currently minting money from the market, but if you are struggling even with your knowledge in the market, I will strongly suggest you give the list below a thought and see how you can use either of them to leverage with your trading.
How to Make Money from Forex without Trading
1. Start a Forex Investment Club
One of my mentees started a Forex investment club in South Africa before becoming a full time trader. He had the interest in Forex Trading for a long time, but he was not certain how to go about it. According to him, one day he decided to put out a social media post inviting all Forex traders and aspiring Forex traders in his community to a sit out: on the first day, about 6 people turn up and they share ideas together, created a group on Telegram and pay a little token for entertainment.
In about one month, he was able to get 20 committed club members: the only thing he did was to provide a space, light and refreshment, since majority of them were full time trader, they started paying monthly for the space. He was also able to organize training for aspiring Forex Traders and inspire the experienced traders to trained them while he coordinate payment and share a percentage with them.
The club according to him also provided opportunity for account management, Forex market technical analysis and signal, among others.
2. Sell Forex Courses/Book
Before quitting my job in the bank to become a full time trader, I was selling Forex courses/books for one of my Forex Mentor. As a Marketing Manager then at my branch, I had access to array of client who were into Forex trading, so I was able to sell books and courses to them and also get great feedbacks from them. Their feedback inspired my full time journey into Forex. I was making up to $160 monthly from selling Forex Courses.
3. Copy Trading
Personally, I am not a fan copy trading, but many aspiring traders have made lots of money from copy trading without placing a single trade. So what is Copy Trading? Copy trading is just like photocopying, but you must have a real Forex Trading account before you can do this.
Here are the steps involve in copy trading
- Open a real Forex trading account
If you don’t have one, you can click here to start.
- Search for, identified and subscribe to a successful Forex trade on MT5 or MT4
- Rent a VPS
- Enable Copying from your MT5 or Mt4 account
Then once the person you copy your trade from place a trade, the same trade is placed on your account without you doing anything. If he or she make profit you also make, if he make loses, you also lose, so in copying trades, it important to look for a good and reliable copy trading provider with a great risk management portfolio
4. Become an introducing broker
You can also make money from Forex without trading by becoming an introducing broker; all you need to do is to find a trusted Forex broker and promote their activities on your social media, blog or YouTube channel, and get daily, weekly or monthly returns from your broker based on your client activities in each trading cycle.