Watching out for Forex scams.

[Forextreme]

Every day we are hearing of new Fx scams in the uk. We want to hear your experiences so that we can help each other avoid the scams and gain an ad vantage over the people doing them.
It would be great if you could share some of your experiences with us and give us some tips on how to avoid these scams.

 

[trendie]

the member known as pboyles is pretty much the gold standard on this site for hunting down scammers and exposing their evil intentions.

rather than start an entirely new thread, you might want to spend some time reading this members posts and threads, and perhaps use this thread as an index (links to) of scam-related threads.

 

[Rambo35]

Forex Peace Army is another outlet which claims they hunt down scams, right? I know I have come across them several times and they do seem to go after scammers.

 

[NVP]

Forex Peace Army is another outlet which claims they hunt down scams, right? I know I have come across them several times and they do seem to go after scammers.

are you sure ?.........how do they raise income then ?

or is the cost of the site and the manpower effort there all out of the goodness of their own heart ?

N

 

[Rambo35]

are you sure ?.........how do they raise income then ?

or is the cost of the site and the manpower effort there all out of the goodness of their own heart ?

N

No, I am not sure. I just saw them a lot as they claim to identify scammers. I could be wrong. I thought the manpower are volunteers?

 

[NVP]

No, I am not sure. I just saw them a lot as they claim to identify scammers. I could be wrong. I thought the manpower are volunteers?

never think ..........never assume .........thats rule 1 of trading

N

 

[NVP]

oldest trick in the book ..............

Appear impartial and be a champion of the people .........then sell them something

N

 

[NVP]

how do I know ?.............because I dealt with them a long long time back on some systems I was developing

N

 

[Rambo35]

how do I know ?.............because I dealt with them a long long time back on some systems I was developing

N

Well, after spending a bit more time looking through their website I came to the conclusion that I would not trust them when they label a broker as scam. Reviews written there are also crappy plus they are sponsored by brokers (I think you did mention that).

Oh well, I will put them on my disregard list.

 

[robertofx]

Most of the newbies fall for the scams. If you have a very good understanding of the forex market, we can probably save ourselves from the scammers. Forex peace army is one best place to identify the scammers specially the brokers.

 

[NVP]

Most of the newbies fall for the scams. If you have a very good understanding of the forex market, we can probably save ourselves from the scammers. Forex peace army is one best place to identify the scammers specially the brokers.

so how does Forex peace army make a profit on that site ?

 

[the hare]

Forex peace army is one best place to identify the scammers specially the brokers.

Quality lulz :clap:

You'll be telling us next the NSPCC are there to protect kids

 

[robertofx]

so how does Forex peace army make a profit on that site ?

I am just sharing my experience here. We don't wanna know about their business model. If we can get something from that site that's it. Hope you understand

 

[robertofx]

Quality lulz :clap:

You'll be telling us next the NSPCC are there to protect kids

In forex we cannot trust anyone. But we can get information from quality places to get the knowledge to prevent from scams. :idea:

Remember only we for us.

 

[Ituglobal]

It's true there are Forex scams everywhere. But do we brand a company a scam because of one or a few customers are dissatisfied with their services or because they habitually do something bad to most of their customers? Sometimes, peoples' opinions can be wrong.

 

[perox]

In forex we cannot trust anyone. But we can get information from quality places to get the knowledge to prevent from scams. :idea:

Remember only we for us.

Totally agree with you mate. :clap:

 

[perox]

It's true there are Forex scams everywhere. But do we brand a company a scam because of one or a few customers are dissatisfied with their services or because they habitually do something bad to most of their customers? Sometimes, peoples' opinions can be wrong.

Yes, Sometimes we may have doubts on some comments . Because some companies hire people to give negative feedbacks on their competitors. But when everyone giving negative comments then there is a problem.

 

[NVP]

I am just sharing my experience here. We don't wanna know about their business model. If we can get something from that site that's it. Hope you understand

Nope ...i think its necessary to understand 100% the motivations of anyone I chose to deal with....thats a basic rule of business dude

N

 

[NVP]

Yes, Sometimes we may have doubts on some comments . Because some companies hire people to give negative feedbacks on their competitors. But when everyone giving negative comments then there is a problem.

Lets get a few things straight......

Lets pretend that you are making "shedloads" of money Trading (or anything for that matter)...you have invested years of training and research and money into gettign this far in the game .......and you are still committing long hours of screentime and sacrifice to deliver those big bucks.......

So - what is the motivation for you to "share" that with others ?


1) To generate even more money for yourself ? (Franchising/Training)

2) Because you have other motivations (helping friends & family (Wife will kill you if you dont help her loser brother)

3) Ego ...........you want to show everyone you are the "real deal"

4) Because you are happy to sell the business as you are retiring/downscaling

5) Because you are a humanitarian and want everyone to make money

6) your Health is suffering and you cannot commit the hours anymore so options above are now becoming attractive to you

Now I ask everyone reading here at T2W if they are in this position would you REALLY REALLY sell out you hard earned systems and strategies ?

Get real ......people who sell systems and training etc etc are there to supplement income from selling their systems that dont yield enough profit standalone .......thats it the bottom line

and as long as they are honest about saying that then good luck to them ......but dont be sucked in by the 99.9% cr*p out there and the slick sales patter :innocent:

alsways ask them why they are "sharing" their system......

N :smart:

 

[robertofx]

Nope ...i think its necessary to understand 100% the motivations of anyone I chose to deal with....thats a basic rule of business dude

N

You got a point & I agree .

But I don't have much time to getting into more details....... However I am doing great up to now. Good luck mate