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Thread: Forex Scams

  1. #273
    Join Date
    May 2010

    Re: Forex Scams

    Quote Originally Posted by cbhattarai View Post
    So it is really hard to identify the SCAm for Forex market?
    In what way? As soon as someone tells you their track record is based on imaginary trading, or is cherry picked from someone who accidentally made money for a week or a month, you know it's a scam. They depend on brand new traders who don't know what questions to ask, and who don't know that, if they were any good, they wouldn't be aiming at brand new traders.

  2. #274
    Join Date
    Jun 2008

    Re: Forex Scams

    Well yes the big traders do depend on newbies to squander all their money either on there own or with whatever automated system be it robots or a broker..I trade sucessfully and what I have found is I studied the markets for almost 3 yrs before I put in real money the way the big guys get the little guys is wild market swings to grab the stops the little guys leave to close to the market price.. I set an entry to the trend whichever direction that is and set my stops 20 pts beyond the last dip..You have to have enough money to stay clear of the market swings and the balls to hold to it no matter what..I go long term and when I make a decent profit I will move the stops in close,if it keeps going great if it doesn't I still made money..As a "Little guy trader" (So far)thats how I do it..
    Greg Lightning

  3. #275
    Join Date
    Dec 2011

    Re: Forex Scams

    Quote Originally Posted by Once Upon a Time View Post
    In what way? As soon as someone tells you their track record is based on imaginary trading, or is cherry picked from someone who accidentally made money for a week or a month, you know it's a scam. They depend on brand new traders who don't know what questions to ask, and who don't know that, if they were any good, they wouldn't be aiming at brand new traders.
    People are protected here. Just make sure that your broker is certified by NFA, rest assured it's not a scam.

    You're never a loser until you quit trying.

  4. #276

    Re: Forex Scams

    I do not know about other Forex trading plans but I signed up with Options University, (Forex Trader) and lost about $2,000. The materials called Forex Mastery were very good and I looked forward to putting into practice what I had learned. Before I could start there was some trouble with the owners and Gary Albrecht, my teacher, went his separate way. When he left the trading software no longer was operational I paid for. I don't know if Gary was at fault for not repaying me or the others. The outfit refunded part of what I had paid but the rest (about $2,000) was not. They are headquartered in Florida (Boca Raton I think). One of the guys in the outfit was called Trader Joe as I remember. I am a senior citizen and retired. Honest people will refund what is owed. If you do business with any of the characters involved with Options University beware. I don't know if they may have changed their name to something else or not. I hope no one loses their hard earned money as I did. Best wishes.

  5. #277
    Join Date
    Sep 2014

    Re: Forex Scams

    Seriously? 800%.. Who would fall for that. It just sounds like an instant scam when I hear it.

  6. #278

    Re: Forex Scams

    Did you try solve this problem via Forex Peace Army? They help traders to get back money form scam company.

  7. #279

    Re: Forex Scams

    Representatives of Forex companies usually respond on this forum, at least if they care about the opinion.
    Anyway Good Luck!

  8. #280

    Re: Forex Scams

    Invite me please

  9. #281
    Join Date
    May 2019

    Re: Forex Scams

    I don't know about forex brokers, but I know a few trader's who emit trading signals and help you achieve profits on a daily basis.

  10. #282
    Join Date
    Feb 2006

    Re: Forex Scams, forget it

    most so called training methods and online schools are SCAMS . they use data after the fact to bolster their claims
    forex training is nit for the amateur. it really takes a MS degree in Options from an outfit like Illinois Institute of technology in Carbondale, IL to succeed in it after the MS degree it is usually about 5 years before you can trade on your own so unless you want to get the MS degree plus 5 years work at a reputable bank then forget it . it is a scam it makes money for 4he ones that sell the program it is a RIPOFF

  11. #283
    Join Date
    Jun 2020

    Re: Forex Scams

    I want know this clearly.

  12. #284
    Join Date
    May 2018

    Re: Forex Scams

    No wonder that trading on Forex is risky because of the plenty of scammers on the market. It's bad but there are many resources where you can check the reliability of forex brokers. Moreover, there are many educational materials which can improve your trading skill. Go to check this article, for instance. The more you know, the better after all.

  13. #285
    Join Date
    Jul 2020

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