Tuesday, September 23, 2014

Stay Away From SCAMs


"Make 300% returns quickly"
"Guaranteed profits!"
"No lose!"

There is no perfect trade, you may and will loose money in Forex.
If you see catchphrases like these, stay away from it, any guarantee 
in forex world is a scam.

I have quoted Wikipedia's page about FX fraud:
"Foreign exchange fraud is any trading scheme used to defraud traders by convincing them that they can expect to gain a high profit by trading in the foreign exchange market. Currency trading "has become the fraud du jour" as of early 2008, according to Michael Dunn of the U.S. Commodity Futures Trading Commission. But "the market has long been plagued by swindlers preying on the gullible," according to The New York Times. "The average individual foreign-exchange-trading victim loses about $15,000, according to CFTC records" according to The Wall Street Journal. The North American Securities Administrators Association says that "off-exchange forex trading by retail investors is at best extremely risky, and at worst, outright fraud."
The foreign exchange market is at best a zero–sum game] meaning that whatever one trader gains, another loses. However, brokerage commissions and other transaction costs are subtracted from the results of all traders, making foreign exchange a negative-sum game."
Original Link

Cheers
Eklogite
 

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