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Forex Scam

Forex or foreign currency trading as it is known. On daily basis, trillions of dollars are exchanged over this exchange. It is a volatile market and with such a large amount floating in the market, it attracts scammers too. Nobody can be a long-term winner in this market especially if you are not a professional trader. To make matters worst unregulated and unauthorized brokers manipulate prices online. This manipulation is such that you lose your money. No sooner do you lose scammers ask you to deposit fresh money to make up for the losses that you have incurred.

How scammer scam?

Many scammers see this as an opportunity to scam people with attractive offers. They hoodwink the investor into believing that they are regulated and reliable brokers. With manipulation techniques, you will feel like a winner. No sooner do you deposit a big chunk of money for good returns, you will be unable to log in to their website. To protect your investment see that you deal with a regulated and authorized broker, not with a scam broker.

Do you profit with forex trading?

You can take a chance with forex trading if you have some experience in stock trading. Well, just as with any other trading, forex trading also involves a risk because of its high volatile nature. For a new entrant or a beginner in forex trading risk is even higher. You should not invest in forex trading; funds that you can afford to lose, like retirement funds. No doubt some successful investors have made a huge profit. But their percentage is very small. Most people hear successful stories and are drawn to them without realizing that behind each successful trader thousands have failed.

This is where the problem begins.

Forex trading is not a hobby it is a full-time job. It takes time to learn and at the same time you cannot earn profit from the beginning. Most forex traders lose virtually their money in the initial stage.

Why do people become a victim of Forex brokers?

One of the main reasons why investors become the victim of a scam to forex brokers is their lack of awareness, knowledge, and practice. They see advertisements of great outcomes and definite profits. Investor falls for this reason.

Secondly, they tried forex for the first time and were lucky to earn profits. Investors do get lucky as in any type of gambling. They do not stop here and try again with more funds in a hope that they will cover up their losses and lose everything in long run.

Thirdly there is an unbelievable rise in the number of unregulated platforms offering forex trading. Unregulated platforms play with customers’ funds and simply disappear all of a sudden. Usually when a client invests heavily.

How to avoid a forex scam?

First of all, avoid trading on platforms of unregulated brokers. Secondly don’t permit the broker to trade on your behalf. Examine what you expect and research about the trading platform is legitimate and authorized. More the research, less the are the chances of you getting scammed.

Are you a victim of a scam?

Contact us as soon as possible if you come to know that you have been scammed. Earlier the better.

How can we help you?

With due consultation with you, we can figure out and trace the path of your funds. We have a team of experts who deal day in and day out in these types of scams. We build a strong case for you covering all the loopholes the scammer can exploit.