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and Signals - Fake MyFxBook Accounts Scam Book
Check if the Myfxbook account is active. This example is quite common: The seller’s website shows Myfxbook results, maybe even gives a link to Myfxbook, but when you visit their Myfxbook account, you see that trading stopped months ago.
Updated Nov 1, 2023How to Identify Forex Scams in 5 Easy Steps - 5 Forex Scams.. Book
Step 3: Are Myfxbook results public or private? The third step is to check whether Myfxbook results are public or private. Do not trust private results with hidden data. In the picture above, we see a trading strategy taken from a website.
Updated Nov 1, 2023Common Forex Signal Scams - 5 Forex Scams Used in EAs, Indic.. Book
There’s nothing to see, and it’s a shame that people believe such things just because they are on Myfxbook. Yes, you should trust Myfxbook if you see that there are no open trades holding huge loses.
Updated Nov 1, 2023Fabricated Backtest Results Scam - 5 Forex Scams Used in EAs.. Book
Fortunately, these days, we have access to Myfxbook, where we can see real trading results and evaluate strategies. Before Myfxbook, a backtest was the only way to know whether a particular strategy had potential. People would present MetaTrader4 statement reports but they are as easily fabricated as backtests.
Updated Nov 1, 2023Scams are Everywhere, not just in Forex - 5 Forex Scams Used.. Book
I had found a great strategy with good Myfxbook results and rushed to buy it. Over the next week, I realized that the results did not match the strategy on Myfxbook. The trades did not match; nothing matched. It was a totally different strategy. Realizing that I got scammed, I did a Google search.
Updated Nov 1, 2023