Forex Scam or forex fraud is a growing big problem. Anyone can be forex freaud, maybe someone your know or someone you never met before. Scammers gives you some idea to make your move with your money. Some scammers makes you take too much risk on forex market. Some scammers seems like real bir company, in reality they are not.
If you are new in forex market, be careful about that scammers. New starters always easy fish at this market. If you meet with scammer they can easily understand you are new.
Forex scams can take many forms. Some scams can be compelling or seem to be very legitimate. They take advantage of traders seeking the magic answer to winning in the forex markets. Unfortunately, there are no easy answers. Here is a quick list of some popular general forex scams.
1. Signal SellersIt seems like a new company springs up every day that has the signal service to beat all signal services. They profess to be able to sell you information on which trades you should make. These signal sellers usually charge a daily/weekly/monthly fee for their service and usually do not offer anything that will help improve your trading. There is no such thing as having a magic key to the market and if there was, why would you sell it?
2. Magic Way: If someone or some company tells that "We have a magic system to make you rich in forex market" .
Tell this : "wait a minute if you have that kind of easy magic method you use it and be rich yourself. don try to take my money." there is no guarantee and there is no easy way at any market. There are just scammers and victims exists.
3. Phony Investment FundsIn the past few years, funds called HYIP(High Yield Investment Program) have popped up all over the place. Most of these(if not all) are scams. They promise you a high level of return for temporary use of your money in their forex fund. It is a type of Ponzi scheme where the investors of yesterday get paid back by the investors of tomorrow. Once the fund runs out of prospects, they usually close down and take whatever money they had with them.
4. Investment Funds:
Some companies takes extra money for investment program. There is no such thing. They can request money for education or something else, they can give you lessons, this is acceptable. But if some company wants investment money and takes back nothing, they are liar. Name can change(investment, preparation) Don`t give you hard earned money to any company which is scammer.
5. Miracle SoftwareThere is no software that will figure out the forex market for you. However, a quick google search will turn up plenty of software sellers that say otherwise. Some companies out there are selling their special “packages” for upwards of $5,000 and many times it turns out to be something that you can find on the internet for free. It is generally not advisable to buy any type of forex software that will tell you which trades to make.
another meaning :
There is no software that will guess tomorrow market. Noone can read news of tomorrow. (except politicians, they can start war, they can end war). If someone have good software to earn guaranteed money they can use for themselves. If someone try to sell you some good software which is guaranteed to earn at forex market (They are liar). Some softwares can makes your job easies that is all.
If you are new in forex market, be careful about that scammers. New starters always easy fish at this market. If you meet with scammer they can easily understand you are new.
1. Signal SellersIt seems like a new company springs up every day that has the signal service to beat all signal services. They profess to be able to sell you information on which trades you should make. These signal sellers usually charge a daily/weekly/monthly fee for their service and usually do not offer anything that will help improve your trading. There is no such thing as having a magic key to the market and if there was, why would you sell it?
2. Magic Way: If someone or some company tells that "We have a magic system to make you rich in forex market" .
Tell this : "wait a minute if you have that kind of easy magic method you use it and be rich yourself. don try to take my money." there is no guarantee and there is no easy way at any market. There are just scammers and victims exists.
3. Phony Investment FundsIn the past few years, funds called HYIP(High Yield Investment Program) have popped up all over the place. Most of these(if not all) are scams. They promise you a high level of return for temporary use of your money in their forex fund. It is a type of Ponzi scheme where the investors of yesterday get paid back by the investors of tomorrow. Once the fund runs out of prospects, they usually close down and take whatever money they had with them.
4. Investment Funds:
Some companies takes extra money for investment program. There is no such thing. They can request money for education or something else, they can give you lessons, this is acceptable. But if some company wants investment money and takes back nothing, they are liar. Name can change(investment, preparation) Don`t give you hard earned money to any company which is scammer.
5. Miracle SoftwareThere is no software that will figure out the forex market for you. However, a quick google search will turn up plenty of software sellers that say otherwise. Some companies out there are selling their special “packages” for upwards of $5,000 and many times it turns out to be something that you can find on the internet for free. It is generally not advisable to buy any type of forex software that will tell you which trades to make.
another meaning :
There is no software that will guess tomorrow market. Noone can read news of tomorrow. (except politicians, they can start war, they can end war). If someone have good software to earn guaranteed money they can use for themselves. If someone try to sell you some good software which is guaranteed to earn at forex market (They are liar). Some softwares can makes your job easies that is all.
references and sources :
whatisforex.org
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