omar.elalfy Posted October 29, 2010 Posted October 29, 2010 WHAT IS FOREX SCAM? Forex scam means that the code of the expert advisor is not genuine, it was stolen from another EA. Here is what scammers do: they find free EA with a good backtest on public forums, rename it, put the trading logic into DLL to hide it and release as a new $97 robot to gather some pocket money from forex newbies. On the other hand If the EA does not trade well that does not mean it is a scam. All EAs have periods when they perform better during the certain market conditions. There is no EA that can perform the same during 10 years. This is a myth. So beware guys and don't forget to check out reviews before buying anything! thanks , best wiches , omar Quote
SolidSnake21 Posted November 1, 2010 Posted November 1, 2010 I think scam in forex is less than other programs but If you know any forex scam tell us, It is bad to be scamed in forex trading. thank you I think it is very good to point to this issue. Quote
tprhzm2009 Posted November 2, 2010 Posted November 2, 2010 I think scam in forex is less than other programs but If you know any forex scam tell us, It is bad to be scamed in forex trading. thank you I think it is very good to point to this issue. Yeah, this is right, comparing with HYIPs programs, scam is less in forex program. of course, with a lot of new forex brokers coming up , I think there are some brokers will turn into scam, so it is necessory for us to choose the brokers with good reputation. Quote
chuna1985 Posted November 8, 2010 Posted November 8, 2010 I know about forex scams but i never knew that they have infiltrated the forex trade to this level. It's very difficult to track down scams in the internet, due to the fact that it is cyber space. Everyone should be sure to reduce spam risks by making proper inquiries before using a broker or a robot. Quote
sirwilly Posted November 22, 2010 Posted November 22, 2010 Forex scams are less popular than in other online programs. I think the fact taht most of the popular brokers are regulated is contributory. If we had a lot of uneregulated brokers, then we can expect that scamming brokers will be on the upsurge already. Quote
hongshui Posted November 24, 2010 Posted November 24, 2010 That is say good,some scam forex always extort our money in aspect of spread pip and withdraw,some forex have as high as 10 pips,that is quite incredible.And when you withdraw lots of money,their always delay the payment even dont want to pay out you,I had meet! Quote
sirwilly Posted November 28, 2010 Posted November 28, 2010 Or they may even have hidden charges on our withdrawals. Once, I used a broker who charged as much as 8% of my withdrawal as his fees. I think that's merely extortion considering the broker has a dozen other ways of making money from his traders. Quote
mundi Posted January 11, 2011 Posted January 11, 2011 thanks for the warning about forex scam ... I guess in the online business is always there just a scam ... I will always be vigilant about this ... Quote
Hunter Posted January 12, 2011 Posted January 12, 2011 many scam sites came in the past and still coming in but not as much in hyip sites.In certain forums some people complained that they lost 100's dollars to those scam brokers.so better search for good brokers. Quote
yogeshwartyagi Posted January 13, 2011 Posted January 13, 2011 Yup there are many who try to scam newbies and so one has tobe much careful Not only while buying an EA but also while joining a broker there are brokers which are not legit and proved tobe scam So join only those who are proved legit and with good reputation. Quote
boniez Posted January 14, 2011 Posted January 14, 2011 indeed there are many of forex scam, but its easy to avoid these matter, because now therea re many of forex forum and we must know the lasest update about forex stuff Quote
Hunter Posted January 14, 2011 Posted January 14, 2011 yes, now we have many great forums like digital money talk where we can get many updates about a particular forex broker and their minuses,in the past we didn't have these features.now we can easily find scam brokers. Quote
t2t Posted January 20, 2011 Posted January 20, 2011 To avoid getting scam by forex broker you need to use the popular ones and also you need to do your research very well. Most broker just open their platform for the sole purpose of scamMING their traders. Quote
boniez Posted January 21, 2011 Posted January 21, 2011 To avoid getting scam by forex broker you need to use the popular ones and also you need to do your research very well. Most broker just open their platform for the sole purpose of scamMING their traders. therefore we have to update about a broker for not regret later. I think now is a lot of sites that provide it, so no need to bother. especially now that many forums that discuss about Forex Quote
Legendkid Posted January 22, 2011 Posted January 22, 2011 Any newbie who wants to learn forex trading and finds his way down here is bless.Since forex experts are here offering various knowledge and insights on how not to get scam. @sirwilly can you give us the name of this broker who charges 8% just for exchanging,so that maybe in the near future we can avoid his site and tell others about him too. Quote
indieover Posted February 14, 2011 Posted February 14, 2011 yes i thought that there are no such thing as scam in forex but only in hyip. but i was surprised there is still some scam in forex. but not as many as we see in hyip. so i think better be aware only of what are those scams in forex and we will be fine. Quote
sirwilly Posted February 15, 2011 Posted February 15, 2011 Forex scams are more discrete and more organized. The majority of traders will have no idea that they have been scammed even. It may be in something so miniscule as adding a slight pip to the spread. Quote
flybiz08 Posted March 28, 2012 Posted March 28, 2012 I agree with you because it is the organized nature of these forex scams that make traders fall for them. In the organized nature, they seem to be similar to the real one. Also, forex scams know the very needs of traders and they try to tell traders that those needs are possible to come by when in reality, they are not. Quote
charlly007 Posted April 26, 2012 Posted April 26, 2012 WHAT IS FOREX SCAM? Forex scam means that the code of the expert advisor is not genuine, it was stolen from another EA. Here is what scammers do: they find free EA with a good backtest on public forums, rename it, put the trading logic into DLL to hide it and release as a new $97 robot to gather some pocket money from forex newbies. On the other hand If the EA does not trade well that does not mean it is a scam. All EAs have periods when they perform better during the certain market conditions. There is no EA that can perform the same during 10 years. This is a myth. So beware guys and don't forget to check out reviews before buying anything! thanks , best wiches , omar Honestly,i never knew that there is scam too when it come to trading forex online or dealing with forex online.I will surely keep in mind your advice and hope others will do same as well.We need to check reviews before we do anything especially if it had to do with making payments. Quote
indieover Posted April 27, 2012 Posted April 27, 2012 there are so many forex brokers actually. i have googled for different brokers and some were called scams. but they are not popular. so better stick with popular brokers that are proven and have been online for quite some time already. Quote
pepy Posted April 27, 2012 Posted April 27, 2012 lol, i think what do you mean is forex robot that scamming people , well actually not all forex robot good for us but still there are some EA that if we use them correctly will help us a lot, and for forex broker still there are few, but not as much as HYIP or PTC site, to create broker we need a lot of bucks . so i think only few people want to create it. Quote
euro Posted September 18, 2013 Posted September 18, 2013 No doubt, there are many scams online and when there is money to be made, they will scams you in all possible ways. I will read reviews about products before using them. There are many hyip programs too. I'm also wary of those kind of scams. There are even scams with brokers too who freeze your account and not let you withdraw your funds. So, I've also heard of hackers into instaforex account and then empty their account. Your best bet is to put minimum amount of money in there and not a lot so you don't get scammed. Quote
screw_twizz Posted January 5, 2014 Posted January 5, 2014 I understand with regards to fx hoaxes nevertheless when i never ever understood they've already infiltrated the forex trading to the amount. It is quite tough to track down hoaxes inside the world-wide-web, simply because that it's cyber area. All people should be sure you lessen junk mail risks by means of doing correct questions ahead of utilizing a agent or possibly a robot. Quote
Decub Posted February 19, 2014 Posted February 19, 2014 Provided it's an online business, other is prone to scam. Scam is something that has eaten so deep in any online business and Forex is no exception to the rule. Trading in Forex is lucrative and people take advantage of it. Even though it is through robots, they are all scam and software is a very easy way to scam people with Forex. Quote
tray22 Posted February 22, 2014 Posted February 22, 2014 There are always scam program when ever its involve anything internet because from the look of things and what i can see i need to tell you that a good forex trading trader need full time trading than part time but when you look and see your self been possibly scam then try and trade part time and you will get good outcome from your trade Quote
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