Article Forex Scams – How to Spot them a Mile Away

T2W Bot

Staff member
1,454 55
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?
In recent years, investors have witnessed increased number of investment opportunities and offerings. While the complexity and success of these investment products vary, technological innovation has made the Forex market one of the fastest growth areas. Many of the leading Forex brokers reported up to 500% rise in the number of new retail customers. However, the growth of the Forex market has been accompanied by a sharp rise in foreign currency trading scams.
Many of these Forex scams are promoted on the radio, television, newspapers and the Internet. Investors who fall victim to these schemes, often lose all of their money.
As an illustration, let?s examine the facts of a recent case involving Forex fraud and its consequences. W learned of a foreign currency trading opportunity through an...
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trendie

Legendary member
6,233 1,007
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 )
 

Directional

Experienced member
1,992 251
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...
 
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vergis92

Active member
236 6
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
 

windsors

Newbie
3 0
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.
 

pipper

Member
80 0
Solid article. After searching through many systems, I found out the hard way about many of them. :eek:
 
M

martinengland

0 0
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
 
M

martinengland

0 0
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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