The forex market is a niche that involves money, so you, as a trader, should be able to discern if what you’re looking at is one of those scams or not. This is a niche wherein deceitful people have a lot of opportunity to make money by using fraud as they launch a forex scam. In this article, you’ll be given hints as to what identifies a real scam.
Those with exaggerated claims…
It is in the nature of websites promoting forex products or services to appeal to your wishes as a trader to make lots and lots of profits and money. There’s no question with that, but once they promise you that you can earn millions in just one night… then that’s a scam that you need to look out for!
Screenshots that show great earnings on trading accounts…
Websites promoting forex products commonly provide images of their own trading account results in order to convince the people of the ability of their system to make money. People who make scams will fake their screenshots using graphics editing programs such as Photoshop, which makes it impossible to tell whether it’s a fake or not. Even if what you see is really genuine, do not pay any attention to it, as you will never know what kind of system that person is using… and those systems might not work for you as well.
There’s no guarantee offered…
A genuine forex product always offers an easy to avail money-back guarantee. What you should be looking for is a no questions kind of guarantee instead of those that say that you have to follow a set of instructions before you qualify for one. For downloadable products like EA’s (expert advisors) and e-books, trust those that are sold by the vendor Clickbank for refunds, as they are the one who handles those kinds of transactions (within 58 days of the purchase). Choose those membership sites or services that you can cancel anytime without taking any charges, and you should never sign up for a scam that binds you to a 6-month or 12-month contract.
Bad press in the forums…
Forex products will show you the testimonials and recommendations that the satisfied customers has given them. In order to be sure that such claims are authentic, you can always ask for proof: remember that a good and honest business always finds a way for you to contact those people who made such testimonials and recommendations. Also, look at what the unsatisfied customers are saying about the product (which is always present for any kind of product, no matter how good it is). You see, going through these customers’ opinions and comments (which is available in the online forums) will help you in judging the product’s credibility, whether it is a forex scam or not.
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