Wednesday, September 26, 2012

What is Forex Scams in scam sits

What is Forex Scams

What is Forex Scams
Forex Scam or forex fraud is a growing big problem. Anyone can be forex freaud, maybe someone your know or someone you never met before. Scammers gives you some idea to make your move with your money. Some scammers makes you take too much risk on forex market. Some scammers seems like real bir company, in reality they are not.

If you are new in forex market, be careful about that scammers. New starters always easy fish at this market. If you meet with scammer they can easily understand you are new.

Some kind of forex scams:

1. Magic Way: If someone or some company tells that "We have a magic  system to make you rich in forex market" .
Tell this : "wait a minute if you have that kind of easy magic method you use it and be rich yourself. don try to take my money." there is no guarantee and there is no easy way at any market. There are just scammers and victims exists.

2. Signal Providers: Signal providers can give you fast news and forex signal information. But there is no guaranteed way, they must tell you downside of their system and risk percent. If they say they are perfect and guarantee everything. Think they are liar. 

3. Investment Funds: 
Some companies takes extra money for investment program. There is no such thing. They can request money for education or something else, they can give you lessons, this is acceptable. But if some company wants investment money and takes back nothing, they are liar. Name can change(investment, preparation) Don`t give you hard earned money to any company which is scammer.
4. Miracle Software or System:
There is no software that will guess tomorrow market. Noone can read news of tomorrow. (except politicians, they can start war, they can end war). If someone have good software to earn guaranteed money they can use for themselves. If someone try to sell you some good software which is guaranteed to earn at forex market (They are liar). Some softwares can makes your job easies that is all.

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Risk Warning

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial adviser if you have any doubts.