Forex trading is highly profitable, but it can also be the subject of frauds and manipulations find out more. Know the top frauds in order to protect yourself and your hard-earned cash.
The CFTC & NFA was formed to protect the general public against fraud. Forex TradingTraps – How You Can Avoid These Four Top Frauds of Forex Trading Articles. manipulation and abusive trade practices. Never make any checks or bank wires payable to anyone else than an FCM registered with NFA.
1. Doing research: Researching Forex trading is essential before investing any money. Be sure to confirm any claims made by the company before considering doing business. Some people will just deposit their hard-earned dollars with certain forex trading organisations without first researching that company. There is always a chance.
2. Avoid Get-rich quick schemes. They can be scams. No one can learn to trade forex in a way that will guarantee consistent profits. You should always remember that nothing is free. Learn forex basics. Many big investors put a lot of cash into these schemes. They never see the money again.
3. Avoid Forex Companies That Guarantee You Big Profits Be extremely cautious of Forex trading companies that promise big profits. In the world of currency trading, no one can make a 100% guarantee. Those claims can be false in many cases. Start by learning to trade Forex yourself, using a forex book or guide.
4. Another fraudulent claim is the promise of risk-free trading. More than 90% of people who have tried forex trading failed, so there is some risk involved. Do not put money on the forex market if you can’t lose it. It is impossible to know the performance of the market in the future. The trading is either high risk or low risk. There’s NO NORISK! Anyone who says that forex is risk-free will likely be a con artist or liar.
This free ebook is very useful to beginners in forex. It includes a free forex system. There are valuable items for advanced forex traders as well. Do not be lured in by promises of easy money. It is best to learn to trade and make your own decisions.