Is Forex A Scam?

shaunna75

Private
Messages
20
Forex itself is not a scam, but there are a lot of scams that are connected with Forex just like any other investments. There are a lot of people who are looking of ways to scam new comers since they are gullible and don't have much knowledge yet with Forex. Forex trading is a real business where you can earn, but it does not happen overnight. You need to work hard and be patient for that to happen. Getting a Forex broker would help guide you and protect you from scam.
 

itkraze

Private, 1st Class
Messages
200
No Forex is not scam it is the real business and we can earn good and consistent profit from this business so it is necessary that trader should have proper trading skills and knowledge to earn generate the reasonable profit from risky Forex market.
 

Whitesnake

Corporal
Messages
428
Forex as such is not scam, but there could be scam forex brokers and fund managers so beware of them. :(
 

Red Herring

Corporal
Messages
388
Forex itself is not a scam, but there are a lot of scams that are connected with Forex just like any other investments. There are a lot of people who are looking of ways to scam new comers since they are gullible and don't have much knowledge yet with Forex. Forex trading is a real business where you can earn, but it does not happen overnight. You need to work hard and be patient for that to happen. Getting a Forex broker would help guide you and protect you from scam.
So what is your prescription? Make a list that a newbies should not do to avoid scam and post it. That should help.
 

Pharaoh

Colonel
Messages
19,743
What's up with resurrecting threads from years ago? Check Shauna's profile - last login was in 2011.

I already wrote several articles that can save newbies (and not-so-newbies) from scam. You can find those and more here:

Forex Basics Boot Camp
 

Mozzy

Recruit
Messages
6
Scam is forex not, believe me, young padavan. Anyway, why would all of us even be here talking about scam thing. If nobody ever win at Forex, what would be the way for it to turn into the market with 4 trillion daily turnover (yes, I got it from wikipеdia)
 

Pharaoh

Colonel
Messages
19,743
Don't believe all the brokers who push the 4 Trillion per day. That's ALL currency exchanges. Think of how many USD Walmart has to convert into CNY every day to buy all that cheap plastic stuff they sell. Think of every UK company needing to buy something priced in Euros. Every conversion of one currency to another counts, including swaps between banks.

Retail forex is a few buckets of water in that ocean of currency exchanges.
 

manish88

Recruit
Messages
5
Well when you are about to start trading in the Forex market, or if you already are, you need to avoid the scams.

Here are some tips of how to avoid Forex scams:

1 - Use your good sense. This is the primary thing you need to do. Evaluate carefully the product or the broker you are choosing. If you think they are offering you too much, be careful. It may be a scam.

2 - Before buying a product or signing up with a broker, always read their webpages. Feel free to ask them your doubts. If they believe in their products and services, they will answer your questions.
 

Floriano

Recruit
Messages
70
No I am not agree that Forex is a scam. Forex is a real business and we can earn good money from Forex.
 
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