Forex Scam Experiences

twinkles929

Junior member
20 0
Army fx provide you with more information on Forex scams-

Forex trading has now turned to become an internet scam, like any other money making scams or Nigerian scams we often see on the internet.

Forex trading can be a financial scam if you are not careful or don’t pay a real attention to the people and companies you are dealing with.

The so-called managed forex, brokers and expert forex traders are more likely to be some pyramid scams paying their clients with the money invested by new clients interested in making profits in the forex world without efforts.

It’s a whole industry nowadays mostly targeting developed countries. Many equity scams were reported in Canada, Uk and the United States. We are not saying that it’s not possible to achieve great trading results.

Those people realizing dream results by their trading strategies are very few and rarely advertise on guaranteed results as they know they can’t control the market.

The market can be very difficult from time to time, and their monthly goals may not be the same as usual. On top of that, making money trading is not their primary goal.

They trade forex by passion, but not driven by the ridiculous goal of realizing the unachievable. The only way to avoid scams in the forex industry is to continuously visit the consumers’ protection sites and the regulatory agencies for constant updates.

These agencies update their sites with the latest scams, educate investors and traders, and emphasize on top forex scams. United States, Uk and Canada scams are the most popular in the forex market.
 

rrayne20009

Junior member
31 0
What are other signs to look up for to identify a scam broker?I am newbie and does a demo account with a certain broker.
 

NVP

Legendary member
37,766 2,101
they both scam you .............

who polices the police ?....no one

N
 

bigmistake

Well-known member
263 1
When I heard about a new broker, I would go to FPA to check is it scam broker. That's my scam experience.
 

ForexCamping

Newbie
2 0
I don’t know much more about forex scam but I think forex scams take advantage of the investor on many different levels. The most obvious targets are investors with a very narrow investment knowledge base.
 

Traderallen

Active member
248 41
The best way to avoid scams is also the most profitable way to trade, and that is learn to be your own trader. Make your own decisions based on your methods. Don't worry your concern yourself with someone else's ideas. Then all you need is a broker you can trust. My broker is MB trading I've been with them since 2005 I not only use of the Forex but also for equities and options. My order fills have been right on par. And I've never had any issues withdrawing money from my accounts.

As far as trying to trade someone else's systems are methods it will never work. You are not them and don't see what they see. That's not to say you can't take someone else's method of making yours. I've been very successful using a scalping method someone else created. I modified it slightly for my own personality, and my own views of the market. So learn to think for yourself and not place your hard-earned cash in someone else's hands.
 
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dezzy

Newbie
9 0
Army Fx website not so attractive nor informative. I would rather choose FPA over Army FX

Fully agree, doesn't look well designed, looks rather sloppily put together. FPA is still my go-to place when reviewing potential scams (and there are a lot of them in forex).
 
 
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