How to Spot Those Forex Scams
Do you know that the Forex market is the largest financial market in the world? But there is a lot of opportunity to make a whole lot of money.
There are som Forex scam e inexperienced traders out there thinking that because it’s open 24 hours a day, they could just trade a make quick buck. Well future traders its not that easy, you see that experienced traders are smart enough to stay away from frauds its just that the new traders who are weak to those forex scams.
You need to develop a decent strategy in order to succeed in forex start with the
U.S. CFTC (Commodity Futures Trading Commission), which regulates futures and commodities trading, warns new traders to be careful of frauds and scams that promise to make a fortune from your investments, The CFTC has issued several consumer fraud alerts in connection with forex trading. They offer some tips to help you avoid being rip-off.
You should know that Forex is known as the scram market, but when you do your homework you will succeed.
There is statements like “I made $1000 in two minutes!” or “I made $10,000 in one month” be careful with these ads that promise huge gains in your returns on small investments with little or no risk. You will learn that their big profits to be in forex, but also be advise that there are large losses in your trading. This is when beginners start to quit, because with everything else in life you need patience.
First thing check with CFTC’s consumer fraud alert page. See if the company is registered with the CFTC, or is a member of the National Futures Association. Here you see if any disciplinary action against the firm or company. Also check to be sure the person you’re dealing with actually works for the company.
You should be aware that it’s easy to set-up a web site and hosted and make into a professional site always do your research with any company. Be careful of high pressure sales tactics that these brokers will try to do.