Forex How to Deal with Forex Scams?

[moonchild]

The foreign exchange market is a money market and a lot of people come in with high hopes of making bazillion dollars but the reality is always chilling and can make you humble in no time, due to this reality most people come in through self acclaimed mentors with dreams of making millions in the forex market, but at the end of the day they get scammed.

The truth is forex is not a get rich quick scheme, it takes a lot of time to learn and it's a business like anything else, you should allow others to sell you dreams, there's no shortcut and you'll have to do the dirty work yourself.

What's your experience with forex mentors scams?

 

[FinTrader]

I often watched scammers try to sell some kind of trading strategy or robot, showing excellent results on the history of the price movement chart. And whoever bought such a robot or such a strategy did not have such good profitability indicators in online trading, since the history of the chart can always show good entries, unlike real trading, when the indicators were redrawn and gave a loss.

 

[FXOchartist]

Choosing a broker is really important for traders, what is certain is that traders don't want to fall into a broker scam, so doing research before joining is necessary because, in this very large forex industry, scammers sometimes use it to deceive victims in various ways, including setting up fake brokers, for example, they using fake MT4 to trick victims, this can have fatal consequences because the fake platform is not connected to the interbank market.