It’s quite common to see alluring advertisements in business publications, online platforms and television channels about the magical wealth creating potential that currency trading offers. It’s very much like when politicians decide to release bad news when the public are too distracted to notice… the forex scam will rely on the fact that many of their victims firstly do not know what to look out for and, secondly, how to look out for it.
Traders said the Reserve Bank of India has been aggressively buying dollars in the forex market over the past few days as the rupee strengthened, which they said may be for preparing for a US rate hike which is likely to lead to large-scale capital outflow.
Trading for a living can be one of the few reasonable ways to become your own boss.” Many people come to the Forex market especially for the independence that it offers; others come to the market to make a lot of money and others just long for control of their own financial future.
According to the corporate lawyer, many of these forex trading experts” will set up their own servers (which they control themselves) to lure investors and trick them into believing that ridiculously big gains can be made over a short period of time.
Face it, many people have and will continue to do so. But after reading this article, you will arm yourself with the knowledge needed to spot a forex scam easily so that you will never again be conned into giving away your hard earned money to those unscrupulous forex scam artists.
I wasn’t tainted by all the crap out there which doesn’t work in the real world, and so I (and some friends) came up with ways of making money that seem absolutely absurd to textbook readers and the 10% return/year traders (which I was not content to make).