Forex Education Center / Part 11 / How to Spot a Forex Trading Fraud

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Are you sure that a recent promise by someone to help you get filthy rich in a day wasn’t a scam? Or that your unguided approach hasn’t led you in to a well-planned hoax? You’ve been the subject of a fraudulent scheme? And let’s just face it; a lot of people have been inflicted by such plights. With the market growth sprouting like fungi on the global fronts nobody wants to lag behind in their material success and why should they? But as this race falls into sync with the hoax business preying on the naivety of new investors in the market; chaos finds its place, dreams fall apart and hard earned money is thrown around like confetti. And by the time the victimized amateur sees the devil horns under the fake halo of the seductive sharp suited lure, it is usually too late. Money has already gone down the drain with no return factor.

We here at Forex have taken up the initiative to educate our clients and make them aware of the foreign currency scams being carried out shamelessly in the forex industry.

Be Aware of Tempting Promises:
The first point is to educate and make them aware of the ordinary client and about the weak spots that these hoaxers prey upon. The number one fault of this sort is the blind pursuing of tempting promises that guarantee zero risk and 100% profit with amateur experience and non-substantial verification. It is the “oh look it promises and guarantees. It must be real”, approach that kills the target.

The primary implant in one’s brain in this aspect should be that “no investment is risk free” and “100% profit is never a guarantee in real world’s trade.” And hence, whoever promises you otherwise is a bluffer. Be very much aware that a past success by no means is a guarantee for future success. Make sure to see the verified broker statement of a verified accountancy firm first and foremost.

Check All the Details:
Make sure to read the details provided by the designated person in detail because the more detailed the profile is the more chances are there for it to be genuine. Keep away from sending your money to any claimer who demands it via any nonphysical way like online transfer etc.

Before signing off a check and investing your capital with any Forex company claimer, make sure that the entity of its origin is verified. Check to see whether the firm, is registered with the United States Commodity Futures Trading Commission (CFTC) or the National Futures Association (NFA). The hoax fabricator may falsely claim that their firm is registered with the CFTC or the NFA to gain the respective investor's trust. But do not trust anyone, before doing concrete background research on your part.

Forex has paved an easy way and new opportunities for retail investors. The Forex market is fast paced and the rising number of marketing scams has been raising the alarms for quite long. If an amateur investor takes care of all of the above aspects of verification before trading there is a very little chance of falling prey to these hoax claims.

We here at Forex highly condemn any activity involving scam and forgery and hence we think of it as our designated duty to make our general audience aware of the ongoing hoax programs in order to protect the trust that they yield in online trading and their hard earned money.

We hope that now you have a clearer idea of the dimensions that you should be looking at and will for sure be able to spot a hoax right away. We hope for you to stay safe against such trap loops and enjoy a happy trading experience.

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