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2
2What is Forex
Forex (a short form from FOReign EXchange) is an international financial market founded in 1976. Forex trading involves central banks of different countries, global companies, commercial banks, and various traders which perform a currency exchange.
People trade the main convertible currencies on Forex to each other. A benefit of Forex is that anyone can start using it, even those who don't have any economic qualifications. There are two things to consider: first, traders never buy or sell physical currency. Second, buying and selling occur in all currency transactions. The most popular pairs are EUR/USD, USD/JPY, GBP/USD, USD/CHF.
In general, trading is the process of buying and selling currency to make a profit. The price of one currency is linked to the price of another, so transactions are always made with two currencies simultaneously. Your profit (or loss) depends on the change in the currency price difference.
The market works 24 hours, digests any volume of transactions, and grows in volume annually. The average amount of transactions on the market is 4-5 trillion US dollars, exceeding the capacity of trading on the most potent American stock market.
Is Forex a Scam
Some people believe that Forex is a fraud, especially if a third-party carries out all the trading processes. Like any high-income business that attracts many people, Forex happens to be the object of fraudulent transactions and deception. However, earnings without cheating are quite real.
One should understand that the tricks of Forex companies are easy to calculate. Obscenely lucrative offers from dealing centers can serve as a symptom of Forex fraud. Of course, the terms of cooperation should be profitable, but it is necessary to realize that they are real.
What Forex Scams Exist
Specialists and tech support work hard to decrease the number of scams on Forex. However, still, there are many cases of it, including the most common ones:
Signal Seller
The signal seller scam works by a person or company selling information on which trades to make and claiming that this information is from the professional forecasts. They say it's a guaranteed way of making a profit, and this scheme often works for inexperienced users.
The signal sellers usually charge customers a daily/weekly or monthly fee but don't offer traders any useful information. They have a block of users' reviews that might convince investors in their credibility. However, in reality, they have nothing to offer to their customers.
Pyramid Schemes
Financial pyramids (or the Ponzi scheme) exist since the last century, and they have become one of the most common Forex scams. They promise a high return with small investments, and at first, investors do gain some profit. This profit is a motivation to invite investors' friends and family to join this scheme.
However, when the number of investors starts to drop, the scheme ceases to exist. So, getting rich on pyramid schemes is real only among the scammers who start it.
Boiler Room Scams
This type of scam suggests investors buy shares in companies. These companies usually never exist, and they provide customers with fake telephone numbers, fake websites, and fake offices.
They say that the situation is urgent, and the companies shares will increase substantially in the immediate future. So investors have no time to think and do proper research and entrust their fonds to the scammers. Once the scammers have received the money, they disappear with everyone's investments.
Software Scams
Trading and earning profit without any participation can lure inexperienced customers. Therefore, different software tools for Forex have appeared recently. They offer software that can forecast the market and suggest you the best options to trade.
Professionals do use some software, but it only helps to see past trends and predict future ones based on them. However, there is no such tool to forecast market trends automatically. And if there was, do you think that they would share it so easily?
Managed Account
There are many examples of these scams when an unexperienced user finds a so-called "manager" for their account who can trade instead of them. However, finding a real manager can be quite a challenge. Many fraudsters use the trust of trading newbies, and instead of investing money, withdraw it to their accounts.
How Not to Get Scammed
The most important advice to avoid being scammed is to use a demo account. Demo accounts will help you understand the basics of trading, the variety of instruments you can use, and show you all the scenarios: from a massive profit to an enormous loss.
However, learning to trade without a teacher or a trustworthy broker will take years. When searching for the one, avoid the ones who will promise you to learn in a week, and get money quickly. Be aware that it can take years before you master your skills to a professional level.
One more thing: check the authenticity of the company making the claims or selling the expertise/course. For this, check the jurisdiction where the business is registered since some scammers trade from locations where local law doesn’t expose them to prosecution on the international level.
Comments
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2022-06-04 16:44:39
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2023-01-04 19:40:14
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2023-01-07 03:35:04
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Solomon Rondon
2022-09-27 18:44:04
Its really disgusting how people turn out to be so heartless by hurting others without caring of how the outcome could turn out to be, i was scammed by fake binary brokers of a lot of money some months ago, and even lost more money yet to another fake recovery company while trying to recover my cash back from the fake broker. Thankfully i got introduced to a reliable and trusted Tech Recovery Company, i am glad they helped me got all that i lost to both the fake broker and as well that i lost to the fake recovery guys. If you find yourself in any of the above situation, i will advice you try them out via their email HACKWITHADRIANLAMO at GMAIL dotCOM.
Jessica Lewis
2022-09-29 12:26:51
I highly recommend this fair service. Wizard James Recovery Service did a fantastic job at recovering my life savings which got stolen. I had a stressful situations going on and they were so patient with me and did help me through this. The staff members seemed legit, not just classifying the problem and charging not without good response. I must commend them for recovering my money from the people who stole from me. If you are ever in need of such service, you can contact them via: wizardjamesrecovery@usa.com, wizardjames8@yahoo.com or WhatsApp: +1 (863) 254-2842
Eun Tak
2022-10-07 17:54:28
Get in touch with Michael Murphy if you want to recover your scammed funds or get some legal counsel on how to go about it. I lost more than 4.09 BTC to an online investment scam. I was promised to be getting 25% of my investment every month and I fell for it, but michealmurphy@repairman.com helped. He is the best and most legit team out there. I saw the reviews and reached out, got back all my funds with ROI. Superb I must say! You can Whatsapp Michael via +1 925 238 2217.
Joseph Roz
2022-10-07 20:33:44
I wish every business operated with the transparency, integrity, and trust like Wizard James Services. I felt in safe hands the entire time, the communication was impeccable, simple and their fee is very reasonable and you can trust that they aren't ripping you off and running away with your tokens. Don't hesitate if you're reading this, it was worth it. He recovered the password and I was able to move funds off into my hardware wallet within 48 hours. You can send a a message to him through his person mail: wizardjamesrecovery@usa.com or WhatsApp: +1 (863) 254-2842
Wilma
2022-10-22 07:11:17
I had lost my wallet on one of my computer hard drives from 2019, I found the wallet over a year ago and had not been able to unlock it for over a year. I was amazed for three reasons: Firstly, Wizard James recovered the wallet with a large value amount I would love to say out loud but for security will not. Secondly, I would never have trusted anyone much less a stranger with this amount of money but he was honest straight forward and totally trustworthy, with no games. Thirdly was how professional he was with quick timely information, updates, and security suggestions. You can get in touch with him: email address: wizardjamesrecovery@usa.com WhatsApp: +1 (863) 254-2842
Olivia Grayson
2022-10-28 17:31:20
How to recover Cryptocurrency ; Recovery from crypto wallet hackers,Binary Option & fake investments e.t.c Have you ever been a victim of a scam? Have you lost your money to scam imposters online? I implore you to contact this trustworthy hacker and recovery expert Albert Gonzalez wizard TO HELP RECOVER ALL YOU HAVE LOST, I was a victim of fake people posing as binary options and bitcoin investors, I lost a sum of $4,000 and 2BTC from my bitcoin wallet to these fakes. It took a while before I realized they were scams and this really hurt . Then My in-law heard about the incident and recommended to me a specialist with the address - info@albertgonzalezwizard.online or albertgonzalezwizard@gmail.com whatsapp +31685248506 Telegramm: +31685248506 This recovery technician helped me recover my stolen bitcoins after providing necessary informations and program requirements and in less than 24hrs the fakes were caught and made to pay for what they did to me .if you have lost any amount to online scams and you're seeking to recover LOST FUNDS from wallet hackers, fake hackers, online dating scams, BTC wallet hack, recovery of lost funds from fake binary investors .Reach out to Quadhacked to help you ,and you will be so glad you did so, best believe.
winston
2022-11-03 10:16:31
I lost over 4 btc investing on achain platform I didn't know what to do because I was unable to withdraw my profit, I believed that I would be able to cover the debt with my profits and I thought there won't be even a chance to get my investment back. Until I contacted mr Aaron Gabriel after seeing positive reviews about him 4days back on this platform, I got in touch with him and he gave an explanation of how the process would look like and what exactly we need to put in place for this to work out, which I did and followed all his instructions to my greatest surprise I confirmed the payment of my recovered funds to my bank account, he has been really helpful to me, I bet you all should contact him on email: Aarongabriel310@gmail.com or WhatsApp +1 (314) 649-8612, he’s genuine
Katrina
2022-11-04 13:57:39
I could not be more impressed. The gentleman from Wizard James managed to recover my doge wallet in 3-4 days while it was still worth anything and made me $6000. I can not possibly recommend him enough. He could have taken everything, I gave him my entire wallet, but he did exactly what he said he would. His personal contact, wizardjamesrecovery@usa.com WhatsApp: +1 (863) 254-2842
lisa
2022-11-20 06:15:07
Is it possible to actually get back funds lost to cryptocurrency scam? Absolutely yes. Do you want to recover and get back you stolen funds in BTC? You must connect with the right agency to achieve this. Cracker Cyberdude Group is a private investigation and funds recovery body who specialize in cases concerning cryptocurrency and fake investment schemes. Contact Craker@cyberdude.com now to report your case via the contact information below to get started. Email: craker@cyberdude.com WhatsApp :+1(908)533-1382 Stay Safe.
flanmustelafu
2022-11-30 08:41:52
I have invested with some scam brokers in the past, and the story is as horrific as the ones i have read because i went through the ordeal myself. I lost almost $55k to this unfortunate brokers, a friend referred me to Mr Aaron gabriel who helped me get my money back, plus my accrued bonuses. Please stay clear of these scammers and if you have lost money you can still get your money back if you really want to, you can reach out to Aarong abriel at: Aarongabriel310@gmail.com you can also message him on Whats-app +1 (801) 477-4234. He will definitely help you in getting back your lost funds to any broker…. As mine was recovered too.
BLANK ATM CARD
2022-12-07 01:40:52
GET RICH WITH BLANK ATM CARD, Whatsapp: +18033921735 I want to testify about Dark Web blank atm cards which can withdraw money from any atm machines around the world. I was very poor before and have no job. I saw so many testimony about how Dark Web Cyber hackers send them the atm blank card and use it to collect money in any atm machine and become rich. {DARKWEBONLINEHACKERS@GMAIL.COM} I email them also and they sent me the blank atm card. I have use it to get 500,000 dollars. withdraw the maximum of 5,000 USD daily. Dark Web is giving out the card just to help the poor. Hack and take money directly from any atm machine vault with the use of atm programmed card which runs in automatic mode. You can also contact them for the service below * Western Union/MoneyGram Transfer * Bank Transfer * PayPal / Skrill Transfer * Crypto Mining * CashApp Transfer * Bitcoin Loans * Recover Stolen/Missing Crypto/Funds/Assets Email: darkwebonlinehackers@gmail.com Text & Call or WhatsApp: +18033921735
Gonzalez
2023-01-04 23:55:02
Went through all the comments, I found some painful, while some were funny. My conclusion is most people can still get scammed just because they can’t read in- between the lines. I’ve be victimized. Now I have a resident hacker who helped me recover my funds and so far, it had been worth it. Hackers easily know a bitcoin scam. You just have to make one your friend if you really want to make it big in the market, contact: Benedictine at consultant dot com. Chat: +44 7848 146781
marvin bastow
2023-01-08 04:58:25
I lost my Job few months ago,my wife left me ,could not get income for my family, things was so tough and I couldn't get anything for my children, not until a met a recommendation on a page writing how Mr Bernie Wilfred helped a lady in getting a huge amount of profit every 6 working days on trading with his management on the cryptocurrency Market, to be honest I never believe it but I took the risk to take a loan of $1000. and I contacted him unbelievable and I was so happy I earn $12,500 in 6 working days, the most joy is that I can now take care of my family I don't know how to appreciate your good work Mr. Bernie Doran God will continue to bless you for being a life saver I have no way to appreciate you than to tell people about your good services. For a perfect investment and good strategies contact Mr Bernie Doran via WhatsApp :+1(424)285-0682 or Telegram : @Bernie_fx or Gmail : Bernie.doranfx01@gmail.com
Kingsley Henry
2023-01-24 18:15:43
I almost lost my life after falling victim to a scam that went on for weeks, I got contacted by a lady pretending to be a Forex trader account manager, she told me that I’ll make huge profits if I invest on her platform not knowing that I was being targeted, I started making investments through bitcoins until it was time to withdraw and they insisted I had to pay 20% to withdraw my money and it was then I knew I was being swindled. Unfortunately, I had already put $90,000 into this investment scam. While I was wallowing in depression, I came across an article about Mr.JAMEMESMCKAYWIZARD. Whom i contacted that helped me recover my money, I didn’t hesitate to give him the neccessary details he took some information from me and to my surprise, all my money was recovered within 48 hours. I’m truly grateful to him and his team for their professionalism in helping me recover my money. If you have lost money to any of these scams, I’ll recommend them to you. Their contact: jamesmckaywizard@gmail.com or what'sapp +1 (507) 414-7049....
Kingsley Henry
2023-01-25 14:38:08
I almost lost my life after falling victim to a scam that went on for weeks, I got contacted by a lady pretending to be a Forex trader account manager, she told me that I’ll make huge profits if I invest on her platform not knowing that I was being targeted, I started making investments through bitcoins until it was time to withdraw and they insisted I had to pay 20% to withdraw my money and it was then I knew I was being swindled. Unfortunately, I had already put $90,000 into this investment scam. While I was wallowing in depression, I came across an article about Mr .JAMEMESMCKAYWIZARD. Whom i contacted that helped me recover my money, I didn’t hesitate to give him the neccesary details he took some information from me and to my surprise, all my money was recovered within 48 hours. I’m truly grateful to him and his team for their professionalism in helping me recover my money. If you have lost money to any of these scams, I’ll recommend them to you. Their contact: jamesmckaywizard@gmail.com or what'sapp +1 (507) 414-7049....
Kingsley Henry
2023-01-26 18:53:08
I almost lost my life after falling victim to a scam that went on for weeks, I got contacted by a lady pretending to be a Forex trader account manager, she told me that I’ll make huge profits if I invest on her platform not knowing that I was being targeted, I started making investments through bitcoins until it was time to withdraw and they insisted I had to pay 20% to withdraw my money and it was then I knew I was being swindled. Unfortunately, I had already put $90,000 into this investment scam. While I was wallowing in depression, I came across an article about Mr .JAMEMESMCKAYWIZARD. Whom i contacted that helped me recover my money, I didn’t hesitate to give him the necessary details he took some information from me and to my surprise, all my money was recovered within 48 hours. I’m truly grateful to him and his team for their professionalism in helping me recover my money. If you have lost money to any of these scams, I’ll recommend them to you. Their contact: jamesmckaywizard@gmail.com or what'sapp +1 (507) 414-7049....
Asorehackcorp
2023-02-02 07:25:27
ASOREHACKCORP is a financial regulator, private investigation and funds recovery body. We specialize in cases as regards ETHICAL HACKING, CRYPTOCURRENCY, FAKE INVESTMENT SCHEMES and RECOVERY SCAM. We are also experts in CREDIT REPAIR, we analyze what’s impacting your score. All software tools needed to execute RECOVERIES from start to finish are available in stock. Kindly NOTE that the available tools does NOT apply to CREDIT FIX. Be ALERT to FALSE reviews and testimonies on the internet, the authors and perpetrators unite to form a syndicate. Contact our support team as soon as you can via the email address below to get started. asorehackcorp @ gmail com Stay Safe !
Anital Jeo
2023-02-04 02:01:25
*SCAM ALERT* I lost money to an online cryptocurrency fraud. Firstly, I was not depressed until I realized I had just been duped a few weeks ago after depositing basically all of my savings in an online Crypto investment franchise. I had €32,000 invested in Crypto online for daily positive returns, nevertheless I couldn't access my capital or income for whatever reason. After weeks of frustration, Blockchain directed me to Recovery specialist Jeff Silbert after several emails were sent to them. Luckily, the hacker came through for me when everything seemed to have faded into thin air. You can seek assistance as well by mailing this certified expert at jeffsilbert39 gmail com or contacting via Whatsapp +84 94 867 1524 on WhatsApp. Redeem your hard-earned money and refrain from depression.
hgolden
2023-02-04 08:06:13
*SCAM ALERT* I lost money to an online cryptocurrency fraud. Firstly, I was not depressed until I realized I had just been duped a few weeks ago after depositing basically all of my savings in an online Crypto investment franchise. I had €32,000 invested in Crypto online for daily positive returns, nevertheless I couldn't access my capital or income for whatever reason. After weeks of frustration, Blockchain directed me to Recovery specialist Jeff Silbert after several emails were sent to them. Luckily, the hacker came through for me when everything seemed to have faded into thin air. You can seek assistance as well by mailing this certified expert at jeffsilbert39 gmail com or contacting via Whatsapp +84 94 867 1524 on WhatsApp. Redeem your hard-earned money and refrain from depression.
Bruce Linda
2023-02-06 20:42:04
Getting scammed by this company was the worst nightmare that happened to me early this year. I wish I had done enough research before engaging. Maybe the situation with them would have been different. I was so naïve and did not have enough information I needed to know about the whole online investing scenario. I will not wish my experience upon anyone because it was such a roller coaster one, I am just happy i was eventually able to recover my lost funds through a reliable source I am open to share with anyone who might have been a victim of this Ponzi scheme dorisashley52 AT gmail . com WhatsApp +351 968 942 567
James Blood
2023-02-18 06:54:11
I invested online to th's unregulated broker company which I got stuck having challenges of posting withdrawal of my investment profit ,I sent Gavin Ray all he needed to place a Recovery and I got a call by the bank confirming the payment in my account,quick satisfaction on every successful withdrawals with him, on gmail: gavinray78 AT g ma il DOT com or WhatsApp +1 (352) 322‑ 2096
Anna
2023-02-18 06:56:45
I highly recommend, I also regain my asset through his effort
James blood
2023-02-23 18:49:26
I invested online to an unregulated broker company which I got stuck having challenges of making withdrawal of my investment profit ,I got in touch with a recovery specialist called Gavin Ray and I sent him all he needed to place a Recovery of my funds from the broker company and I got a call by the bank confirming the payment in my account,quick satisfaction on every successful withdrawals with him, on gmail: gavinray78 gmail com or WhatsApp +1 (3 52) 322 ‑20 9 6
LISA DONALDS
2023-03-02 00:08:34
Please everyone should be careful and stop being deceived by all these brokers and account managers, they scammed me over $279,000 of my investment capital, they kept on requesting for extra funds before a withdrawal request can be accepted and processed, in the end, I lost all my money. All efforts to reach out to their customer support desk had declined, I found it very hard to move on. God so kind I followed a broadcast that teaches on how scammed victims can recover their fund, I contacted MORRISGRAY830@GMAIL. COM , the email provided for consultation, I got feedback after some hours and I was asked to provide all legal details concerning my investment, I did exactly what they instructed me to do without delay, to my greatest surprise I was able to recover my money back including my profit which my capital generated. I said I will not hold this to myself but share it to the public so that all scammed victims can get their funds back. Contact; MORRISGRAY830@GMAIL,COM...
LISA DONALDS
2023-03-02 00:09:21
THE ONLY TRUSTED AND GUARANTEED RECOVERY EXPERT TODAY (MR MORRIS GRAY) Please everyone should be careful and stop being deceived by all these brokers and account managers, they scammed me over $279,000 of my investment capital, they kept on requesting for extra funds before a withdrawal request can be accepted and processed, in the end, I lost all my money. All efforts to reach out to their customer support desk had declined, I found it very hard to move on. God so kind I followed a broadcast that teaches on how scammed victims can recover their fund, I contacted MORRISGRAY830@GMAIL. COM , the email provided for consultation, I got feedback after some hours and I was asked to provide all legal details concerning my investment, I did exactly what they instructed me to do without delay, to my greatest surprise I was able to recover my money back including my profit which my capital generated. I said I will not hold this to myself but share it to the public so that all scammed victims can get their funds back. Contact; MORRISGRAY830@GMAIL,COM......
wallace
2023-03-03 11:33:22
i was deceived by an online scammer and i lost all my funds on my cash app but i was lucky to come across a recovery expert by the mail zattrecoverypro1 @ gmail com and i was able to recover all my lost funds all thanks to him and his team. if you have similar issues you can contact him and thank me later stay blessed
Eric Smith
2023-05-04 03:05:25
I lost so much and was really devastated, I had to seek help until I was directed to Mr.Kane Gregan and her Recovery company and Foundation that helped me to recover all the money I had lost. It was really worth it. I will be happy to share my experience with anybody, you can also connect with her for help and assistance for a successful and secured investment without any loss of fund contact them through:kanegregan@gmail.com
Eric Smith
2023-05-04 03:08:48
I lost so much and was really devastated, I had to seek help until I was directed to Mr.Kane Gregan and her Recovery company and Foundation that helped me to recover all the money I had lost. It was really worth it. I will be happy to share my experience with anybody, you can also connect with her for help and assistance for a successful and secured investment without any loss of fund contact them through:kanegregan@gmail.com
Clark
2023-05-10 12:26:33
Most recovery companies will take your money again. I personally think they are the same set of people that run all of them, seems like an unending cycle and its too sad. The most crazy thing about the whole internet thing is how you can clone a website to make it look like the real one, I discovered so many people fell into this kind of scams. The only recovery company I know that works is Freddictine At gmail dot com I have been to their physical address to meet them before and the good thing about them is that they will let you know if they can handle your case or not. So they will not just take your money when they already know they wont help you out. email them on Freddictine At consultant dot com