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Spotting Forex Fraud and Scams
Forex investing is a great option for anyone that is looking to generate streams of income. However, new traders often fall prey to scams and fraud, which is why all traders need to be on the watch for these scams and know how to spot them. Forex scams can lead to the loss of tons of money and will be a huge pitfall for any new investor. When traders get off on the wrong foot or have a bad experience right away, they will be less apt to trade again. This is why it is essential for all interested traders to learn about different scams and learn how to avoid them, no matter how attractive they may first seem.
One of the major warning signs that a scam may be being run is the promise of no risk when investing. Forex investing can be extremely profitable because of the high risk of loss. The market is volatile and when traders do not practice money management skills, they can lose all of their capital. Any individual or brokerage that promises there will be no risk is simply after your money and these brokers and sites should be avoided at all costs.
Watch for anyone that is promising large profits. With this type of investing, there is no guarantee that anyone will make money. These guarantees that are offered are mere ploys to get investors to offer up their money. Claims of guaranteed profits are completely untrue and even the professional traders who have been doing this for years cannot guarantee that they will always make money with the trades that are being conducted. Always be suspicious of any broker that offers instant and large profits.
Another thing to watch for are employment ads that state they are looking for people to learn how to trade using firm capital. Most people who reply to these ads will be convinced they will make a fortune. After using demo accounts, the new trader is convinced that they can make more money by using their own money and there is never any firm capital offered. There will also be many fees because the new “employee” will be forced to use the firm’s trading platform. Never respond to an ad where a firm is offering a trading job using the company’s capital.
Forex Related Articles
There's a lot that to know when it comes to Forex trading which is why WorldForex.org will continue adding articles and new information to this website on a regular basis. Please visit us and come back to our website from time to time for the latest Forex technicals, charts and other information.
June 20, 2017
When it comes time to start trading Forex online, traders will start by selecting a broker, which will facilitate the trades being conducted. One of the great names in the business is OANDA, a pioneering brokerage that has been operating since the mid 1990s. With this broker, traders will benefit from many tools, useful tutorials and other great perks that can make trading even more exciting and rewarding. The online platform was launched in 2001 and since that time, it has been a preferred platform for traders from all over the world.
The 1 Minute Scalping Strategy
June 15, 2017
Forex traders who have experience in trading will be aware of many different strategies and techniques that can help generate successful trades and profits. One of the common strategies that is used is the 1 minute scalping strategy. In regards to the Forex market, scalping refers to method of trading specific currencies based on technical analysis. Traders will have the goal of making a profit by buying or selling while holding positions for a very limited amount of time and closing the trade to earn small profits. Most trades with the 1 minute strategy will be held for one minute or less.
June 2, 2017
When new traders make the decision to start investing online, they will have to make an important decision to begin, which is selecting a trading platform. A platform is the software that will be used to send information between the trader and their selected broker. This software can offer a large amount of information including charts and quotes and it is also used to enter orders that will be executed. There are different types of platforms, such as local platforms, which are installed on the computer by the trader and web based platforms, that are run with Java. The advantage of a web based platform is that it can be used by any operating system, so it is accessible to more traders.
May 18, 2017
Forex trading has become one of the most popular forms of investing and since it can all be done online with ease, it is simple for traders to access brokers and conduct trades at any time. While the Forex market may seem easy to enter, there are many things that must be considered before trading. There is a risk involved and traders who enter the market with little knowledge or no information on proven strategies will have a difficult time enjoying any success. Here, we discuss some strategies that have been used over the years and continue to provide traders with the tools they need to conduct successful trades and start generating profits.
May 5, 2017
Investing in the Forex market can be quite exciting and there are many options that can generate amazing profits. Unfortunately, many traders enter the market without the knowledge they should have and they often make common mistakes that can lead to unnecessary losses. Making mistakes while trading is part of the learning process, but there are some mistakes that can easily be avoided. For those that are price action traders, there is not as much information available online, so common mistakes are often made because traders cannot find the right information to help them conduct these tyupes of trades. Here, we discuss the top three price action trading mistakes that are made.