Submitted by: Chris Johansen

Where there is money, there is greed. Where there is greed, of course, there will be scams. Since ForeEx trading started, more and more people are enticed to getting in the bandwagon, with hopes of getting richer. In a trade like this, many con-artists lurk, especially online, to prey on innocent people who only want to get a piece of the meat. Thisis what we call online ForEx trading scams.

A typical scam would entice traders by promising huge profits in a few weeks. Often times, the money from the poor trader never gets placed in the market; but instead, it gets diverted, lost, somewhere in the feeding frenzy.

Below are more indicators of scams.

If they say ForEx trading is easy, that all you have to do is buy a program/robot, install it wham! You are rich!

Be wary of secret methods. For all you know, you are just paying for water ;

ForEx trading is very unpredictable, if they say they can help you up the accuracy 90%, that is just plain rubbish.

Those sites that promise little to no risk. If there is one thing I know in business, like trading, little investments yield small profits. So if they say you ll earn big time with no risk, they are in it for your money.

Earn 30% to 40% in about two months or less.

It is very easy to do money transactions on-line but hard to get a refund. They may not display their address once you check their website or any other substantial information. Just full of sweet nothings.

Anything can happen online, it is also so for ForeEX trading. It is best to ask them for actual trading track record.

The Dash and Dine scam, is one of many online ForeEx trading scams wherein they will get enough investors to fatten their wallets once they are satisfied (although it doesn’t look like the people behind this ever will), they will just vanish into thin air. As was mentioned, always check for information for a particular website offering trading. No information whatsoever, is a scam.

The Milk scam, this type demands more than the amount of the pip spread for each trade. In other words, they milk you dry. Before you know it, you are out of money. So be alert and on the guard for certain fees that they charge which should not be

Online ForEx trading scams might include draining your account dry for the purpose of commissions, selling software to guide you in trading supposedly, or again promising you that this is a low investment high paying trade.

The best way to go about this is the long way. No shortcuts. No promises; Just pure hard work, patience and wisdom. Don t be in a hurry to get rich. The faster you go the harder you will fall. One step at a time is the key. Check the tools of ForeEx trading. Learn from the masters. Read a lot. Do research.

About the Author: Are you looking for more information regarding

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Source:

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