Forex Scams - How to Spot them a Mile Away

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Old Dec 21, 2006, 5:02pm   #1
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Forex Scams - How to Spot them a Mile Away

We've just published a new T2W article called "Forex Scams - How to Spot them a Mile Away" by John Bekian.

Quick Summary: Today there are many scams involving forex and a great number of us will have seen emails or websites promising untold riches. So what are the main points to look for in spotting a scam?

PS. Don't forget to rate the article after you've read it and share your comments on this thread.
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Old Dec 21, 2006, 5:02pm   #2
 
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I ranked high because is always useful to write about scammers, in every field
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Old Dec 21, 2006, 5:15pm   #3
 
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good general advice.
however, the final couple of paragraphs relating to regulatory bodies is US-specific.

would have been good if an attempt had been made to acknowledge other countries regulatory bodies.
( FSA, etc )
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Old Dec 21, 2006, 5:34pm   #4
 
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Agree with Trendie, the NFA & CFTC only regulate US-centric firms and the US is only a part of the trading universe.

FSA are equally if not more demanding than US regulators in the scope of their protection, and then there are all the other regulators in Europe, Aus & Far East etc...

Last edited by Directional; Dec 21, 2006 at 5:40pm.
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Old Dec 30, 2006, 5:30pm   #5
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Very good advice, people tend to forget that opportunity
goes hand in hand with risk, scam artists usually use
actual statements of profitable trades in their brochures
while hiding losing ones
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Old Jan 2, 2007, 11:16am   #6
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newbies you have been warned great article
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Old Jan 7, 2007, 4:07pm   #7
 
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Since this appears to be a settled case, who is K and who is W?
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Old Jan 18, 2007, 9:32pm   #8
 
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Yeh, good article - just wish I'd read it 18 months ago before I gave a wedge to Tamodfx to 'invest' for me. Now there is no trace of said firm and even less of my money.
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Old Mar 13, 2007, 3:51pm   #9
 
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I agree-there are sharks and piranhas in the FX markets and newbies tread carefully
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Old Mar 14, 2007, 7:12pm   #10
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Solid article. After searching through many systems, I found out the hard way about many of them.
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Old Mar 16, 2007, 8:57am   #11
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It's a good article,especially for newbie forex traders.
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Old Apr 14, 2008, 9:07pm   #12
 
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I am new to forex and uk based. Looking to invest $2000 to dip my toes in. Looking for a reputable regulated ecm non dealing desk broker with a website that contains half decent charting and news and calender. Am I asking for too much
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Old Apr 14, 2008, 9:09pm   #13
 
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I am new to forex and uk based. Looking to invest $2000 to dip my toes in. Looking for a reputable regulated ecm non dealing desk broker with a website that contains half decent charting and news and calender. Am I asking for too much
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