Online or offline, email or postal. If you know of or encounter a scam then this is the place to let people know about it, maybe even get some help from others who have dealt with it before.

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If you see something that shouldn't be here, please report it or send us a modmail so we can take a look. How legit is forex trading?

My brother claims he's making absurd amounts of money through forex trading. He watches tutorials on how to trade constantly and he's always trading on his phone.

How legit is forex trading? : Scams

He never withdraws any money he says he has. He's barely lost money, apparently, although he's only been in the trading business for a few months. He's been involved in pyramid schemes before, but this seems a little different.

Anyone have any insight? I looked into it a while ago. My buddy still does it and said he's making a couple of bucks but not paying the mortgage or anything. I don't think it's a scam per say there are bound to be some people running scams associated with it but you want to find a good company to use for trading.

Exploring Scams Involved With Forex Trading

Also the currency markets fluctuate a lot, especially oldest stock exchange in asia micro transactions. So if your going to get forex trading scams 1st contact forex uk, you'll have to really pay attention, do research, and be prepared to take risks.

Legit, but EXTREMELY easy to lose money in a very, very unpredictable fashion. The massive jump in value of the Swiss Franc earlier in the year wiped out a whole heap of forex trading businesses, for example.

Trading forex is not a scam. However, some of the education programs for it are way overpriced and make false promises that either are scams, or boarder on being a scam. Also, there are a lot of "systems" being sold which might be automated trading or a chart based trade "signal" system which are scams as they promise profits and use overstated, or fraudulent, examples to prove their profitability.

If you see a company promising profitable results for taking their course, or buying their system, for thousands of dollars it currency swap trade life cycle just as likely a scam as that email, or Craig's list response, that want's you to cash their checks and send part of the money back via Western Union.

The fact is that short term day trading or swing trading any financial markets, be it Forex, Futures, or stocks, is extreamly difficult to learn. If you do want to try this then try to find less expensive sources of education such as books, free online videos and inexpensive training call of duty black ops 2 multiplayer scorestreaks list think hundreds not thousands.

Then start trading "sim" using play money with real time information on a real trading platform. Don't trade real money until you can consistently make profits, without cheating, on sim for several months in a row. Then start live trading slow and be ready to lose money at the start.

Most traders work years before giving up and most will never be consistently profitable. But many will lie about it and not admit to their losses while overstating their profits. The real winners are the institutions that get commissions on all your trades, or spreads on markets like Forex, as well as the large institutional traders that really control the markets and have operating budgets in the millions for traders, analysts and programmers to manage their sophisticated trading systems.

Those are the people you'll be trading against. Use of this site constitutes acceptance of our User Agreement and Privacy Policy. By signing up, you agree to our Terms and that you have read our Privacy Policy and Content Policy. Log in or sign up in seconds. Submit a new text post.

Scams subscribe unsubscribe 15, readers users here now For all your scam identification needs. External links links other than imagehost links should be posted as a self post.

If you are posting an article, please copy and paste a few relevant paragraphs along with the link. Accidentally sent a scammer a picture of my Driver's License, but nothing else, should I be worried? This is an archived post. You won't be able to vote or comment. Scams submitted 1 year ago by Max My brother claims he's making absurd amounts of money through forex trading. Posts are automatically archived after 6 months.