Forex Fraud Very Harmful For Forex Traders, How To Protect Yourself From Forex Fraud?

[Symphony]

The major reason why frauds happen is because traders keep looking for shortcuts. If the traders stop looking for any get-rich-quick schemes, they won’t fall for scams. Being a trader is not easy and it requires a trader to be mentally and physically available in the market so that they can sense dangers and not put their money just anywhere.

 

[Curtate]

No matter how smart these frauds seem to have become, you can always avoid them by keeping your eyes wide open and your minds focused. You obviously know that making money is difficult in the forex market and if anyone tries to tell you that they will help you in making money easily, you will know that they are lying.

 

[Heirloom]

The rising frauds are a result of the traders being so unrealistic about the market and profit-making. They need to understand that forex trading doesn’t give them a key to a fortune. They have to work hard to become capable of earning a fortune.

 

[forum.forex]

The rising frauds are a result of the traders being so unrealistic about the market and profit-making. They need to understand that forex trading doesn’t give them a key to a fortune. They have to work hard to become capable of earning a fortune.

We know this. Can you please tell us about your trading session.

Thanks

 

[Polakandil]

The major reason why frauds happen is because traders keep looking for shortcuts. If the traders stop looking for any get-rich-quick schemes, they won’t fall for scams. Being a trader is not easy and it requires a trader to be mentally and physically available in the market so that they can sense dangers and not put their money just anywhere.

There is no shortcut to success in many fields including trading, however in forex, can be split into types of trader, independent trader and investor trader, and mixing between the two, independent trader relying upon trading skills, investor trader relying upon their investing choosing PAMM manager or copy trading, etc, mixing trader besides trade by own selves also investing to balance the portfolio.

 

[Implumou]

In order to protect yourselves from forex frauds, you must be present in your trades mentally. Setting expectations will be a useless thing if you are not putting the required amount of time in analysing the market and checking for your right entry and exit points. If you don’t make proper analysis, you may end up believing in fraud companies that tell you false things about the market just to loot money from you.

 

[Verves]

You have to get good with your trading skills and prepare your mind that trading is not going to be easy. If anything seems to be easy, it will be a fraud. Before taking up any kind of trading services, I always check the review on FPA to be sure about the risk I am going to take.

 

[Homostone]

Frauds won’t be able to touch you if you don’t invite them. Somewhere, traders get greedy by the fake offers and expect to make a fortune out of nothing. If you don’t get attracted by the fake deals, you will be able to stay safe.

 

[Polakandil]

First, how to avoid bankruptcy in the forex trading business, traders need to learn and prepare trading skills, improve good knowledge of how to trade, then choose trusted brokers for the long-term goals, and prevent big loss investing money that affords to lose, because today's profit does not guarantee on the future.

 

[Isometric]

The only way of staying safe from fraudsters is sticking to what you can do. There is no need to do something that you don’t understand. I agree that you need to enhance your knowledge but never move ahead without clarifying if what you are going to use is genuine or not.

 

[Teropus]

In most cases, frauds contact those traders who are too eager to make money. If you can control your greed and fear, you can save yourself from such scams. It’s okay to make losses. It’s okay to miss a few trades. But it’s not okay to find a shortcut to cover all that you lost or missed.

 

[Muricide]

It is important that you should always do your own research before investing in any forex trading program or system. There are a number of reputable sources of information on forex trading, and you should always consult multiple sources before making any decisions.

 

[Braggart]

Distractions often lead to wrong decision-making. Scammers seem to be taking quite an advantage of all this and giving a hard time to traders who become greedy and can’t follow their strategies. It’s you as a trader who has to understand things.

 

[Masterate]

These fraudsters are such a bother. You will find them at every step of your trading career. It comes as a challenge for you to identify them and stay away from them. So, just get your basics done so that no lucrative deals take your focus away.

 

[Monique Rich]

Frauds are doing an amazing job at alluring new traders. Traders need to be careful about what they do and how they do it in the forex market. A deal that seems cheap and easy will surely land you in trouble. Learn to filter out your options.

 

[Arithmogram]

Nice post. Scams are very common these days and forex traders must be very careful. Most of the time, the scammer is promising a good, completely automated system. They find out when they get the system. The scammer took the money and left them with nothing. If you want to protect your funds from going into the hands of scammers, then make sure you follow these tips:

1. Don’t respond to unsolicited offers that come out of the blue, as they are most likely to be a scam. Also, don’t share your personal information or transfer money to any company.
2. If you come across a company that promises high returns on investment that are too good to be true, then it’s a scam.
3. If the company pressurises you to invest your money quickly, then it’s likely to be fraudulent.
4. Social media is a popular platform for scammers to lure people into their traps, and they use highly professional advertisements to look genuine. So, beware of such advertisements.

 

[Capitation]

I agree. Forex market is full of scammers and people often fall into their trap because of greed to earn quick money. Don’t think of forex as easy money, it takes a lot of hard work to become a profitable forex trader. Most of the signal providers and course sellers are scammers so you need to stay away from such people. Stop being greedy and lazy. You can learn forex on your own and you can also create your own signals. Don’t keep unrealistic expectations and accept the fact that there’s no shortcut to success.

 

[Cataclasm]

When we expect too much from the forex market, we lose. And sometimes, we want quick-fix solutions for meeting those expectations. This is what those scammers know, and they take advantage of this behaviour. We must avoid such behaviour at all costs.

 

[Jaculation]

As forex is popular globally, signal providers from all corners of the world target such people who want quick ‘financial nirvana’. And they target them with fraudulent schemes and dupe them of their hard earned money.
The best way to avoid such scams, in my opinion, is by exploring the market by oneself. Follow the trusted sources and practice hard in a demo account.

 

[peter9461]

There are a lot of scam forex brokers out there that will try to scam your money so traders need to be careful when choosing a broker. Especially broker without regulation is more or less gonna be a scam.