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INTRO: Scams are everywhere, not just in Forex

Discussion in '5 Forex Scams Used in EAs, Indicators and Signals' started by Ea-Coder, Nov 11, 2016.

  1. Ea-Coder

    Ea-Coder EA-Coder.com Representative

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    Thanks. Glad you like it. Stay tuned for more videos ;-)
     
  2. Dermolikesprofit

    Dermolikesprofit Sergeant

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    I wrote the following after observing the same pattern of scams that I see on all forums on the internet especially here in the scam alerts folder on ForexPeaceArmy and I would like to add it here if you don't mind. It may prevent someone from falling into a scammers trap, or if they are already in one maybe recognize that and not add to their misfortune.

    Any broker that asks you to lodge more money in order to allow you withdraw your first deposit in just a SCAM. Simple as that! It is just a delay tacit and a way to ensure they scam more money from you before you come to realize that you have been scammed.
    Every bucket shop scam has done the exact same thing in every other thread I have read in the last six years.

    It is written in the Forex and Binary options scammers handbook on page three, fourth paragraph down.....
    Tactic 18.2, Offer them a deposit bonus of 200% if they have been trading for more than six months, and 500% deposit in they are new to trading and be sure to force them to over trade eg 500-1000 lots to receive fake bonus, this helps ensure the new trader will loose their small account within six months.

    Tactic 18.3 Offer them help to recover their initial loss of deposit by appointing an account manager with superior trading talent and skills, allows you (the broker) to take control of the buy and sell buttons, ( has now the ability to buy and sell unlimited risk and maximum lots against trend and at market turns so as to wipe out the account within several minutes /hours.) Be sure to have your victim sign you over this agreement so when he starts to complain that you lost his account you are covered!

    Tactic 18.4 If a new trader has been able to reach the required over trading conditions and makes profits, and then has the audacity to requests a partial/whole withdrawal, then they were lying in their application and had knowledge of trading, or were receiving third party help to to make profits. Options here are to deny them the withdrawal and send them a message that their account is under review, this review will delay them for several days/weeks, time is money and you do not want to spend all your time on one client when there is fresh income source/clients awaiting out there who think they will be the next Paulson.

    Tactic 18.5 Close their account and ignore their petty requests for explanations, if you have to pass them off to another (fake of course) department this will help delay them until they loose hope and eventually go away and stop pestering you. This tactic is successful in 97% of cases, they victim will just accept that they were scammed and will not bother you again. The other 3% of clients will contact other forums and complain you to various toothless agency's in the hope you will return their deposits, luckily you followed the rule book from page one where you set up you business from unregulated offshore islands with very lax rules and regulations.

    Tactic 18.6 If your business is finally falls under bad reputation on the internet review forums you may have to re-brand, luckily this is easy enough, A GOOD BUSINESS MODEL IS A GOOD BUSINESS MODEL after all. You may loose a fey weeks in the re-branding and building up fresh victims but you know "there is one born every minute" as the saying goes and you will still have clients from the old business that still refuse to believe that they are the victim of a scam company that some other client complained about in some forex forum. It is hard to believe that some people are that gullible but it is true and it is these core clients that will help fund your 5* lifestyle

    As always "THE FOREX & BINARY OPTIONS SCAMMERS HANDBOOK" is open to review and updates

    I have seen some people ask where can they find this book, well I was just being sarcastic, so do not panic, unless of course you recognize you are already trapped, just do not send any more money to the crooks
     
  3. Dermolikesprofit

    Dermolikesprofit Sergeant

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  4. aunzaht2558

    aunzaht2558 Recruit

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    Thanks Rimantas. It's a very helpful series.
     
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  5. Ea-Coder

    Ea-Coder EA-Coder.com Representative

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    Thanks for your feedback. Glad you like it ;-)
     
  6. terrate

    terrate Recruit

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    the good auto trading robots where can find it ? i search on website all is marketer....that's great video, thx Rimantas.
     
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  7. Ea-Coder

    Ea-Coder EA-Coder.com Representative

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    I would recommend first find website with good reviews on FPA and follow so see what they offer.
    And always remember, that if EA does not work it does not mean seller is scammer. All systems have losing months.
     
  8. fouclycm

    fouclycm Recruit

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    Hi! I hope I do not bother because I'm new here, but since you're out on esafas you should be aware of the scams made through myfxbook. Theft of investor's password, alteration in results and statistics, theft of trading strategies to be sold in portals of other brokers, changes of Ips in unrecognized users, etc.
    All I know is that myfxbook is a scam, and many fall there. What do you know about it?

    Fiderma
     
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  9. Ea-Coder

    Ea-Coder EA-Coder.com Representative

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    I heard similar rumors, but since no one can prove any of that all of it remains rumors.
    Myfxbook is a great system and if someone hacks an account there just to use it as a "verified proof" of their system (which does not work in reality), then it's not Myfxbook's fault.
    It's unfair this is happening, but there are a lot of unfair things happening in the world. What's important is that people knew how to avoid them.
     
  10. fouclycm

    fouclycm Recruit

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    Yes but, myfxbook does not do anything to avoid it, ie the accusations are that certain brokers incur scams and well, maintain business relationships with myfxbook, so they are untouchable.
    I can not say that myfxbook is an excellent platform if I see this type of fraudulent behavior.
    They do not do the scam directly but they do agree to those who do, both have the same responsibility!
     

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