How To Spot Forex Scams

This post is directed at you new traders out there and also those of you who’ve been scammed in the Forex. This post is For You.

Many scammers out there feel uncomfortable when I’m around these boards. The reason for this is because I know their tricks. I was a Fraud investigator before I was a Forex trader and educator.

Still today I’m a member of the Association of Certified Fraud Examiners (ACFE).

[I]I know exactly how they fool people and you should too. [/I]

If you’ve tried Forex training, got beaten out of your money and don’t want to get ripped off again, here’s the best way to tell if someone is fooling you:

It’s about results. Often trading results are reported [I]after-the-fact[/I]. We all know how easy it would be to take two opposite positions, in two different accounts, reporting [I]ONLY[/I] the positions that succeed.

[B]Showing trading results after-the-fact is Usually how scammers fool people.[/B]

It’s kind of like ‘the hand is quicker than the eye’ trick. People are so awed by the results, they forget that the trades were executed hours or days earlier, leaving plenty of time for manipulation.

[I]Here’s how decent people can avoid being fooled and scammed: [/I]

Ask whomever is trying to impress you with their trading results, to give you their trade execution details, including entry and direction of position…[B][I].Not After-The-Fact But At The Time Of Execution[/I][/B], complete with stop loss so that [I][B]you can monitor their trades and trading systems In Real Time using Real Time Verification. [/B][/I]

In my Forex training venue I post trade executions complete with stop loss In Real Time. There is no hocus pocus as trade are posted in real time and not minutes or hour later. People have heard about my training and how I teach people to execute trade with 20-pip stop losses for 500 to 1000 pip gains or more. They think I must be fooling people, but then when they see that I show my trades in real time, they know that I’m for real.

Scammers don’t like me because they feel the pressure I’m bringing to bear on them to post their trades in real time too. They don’t want you to know their tricks and they certainly don’t like posts like these that will alert you to what they’re doing to fool you.

[I][U]Scammers don’t fool me and they shouldn’t fool you either.[/U][/I]

Remember: Where there’s big money such as in the Forex, there is going to be Big Abuse.

Use my advice to help you not to lose your hard earned money and to avoid being taken for a ride. For all of you newer Forex students or any of you who think you might want to give the Forex a try; yes this market can be lucrative, in fact it can be very lucrative…BUT, if anyone is trying to convince you that this is a get rich quick business, Beware! That is your Number One Red Flag Warning!!

[I][B]‘Get Rich Quick’ Does Not Mean You! ‘Get Rich Quick’ means the guy who’s trying to sell you the ‘Get Rich Quick’ scheme. [/B][/I]

I hope this posts saves you money and precious time on your learning journey.

Best Wishes and Good Trading,

Jeff Langin

Are you the same guy selling a 2.500$ forex course?

If so, what is your true purpose in being on this forum?

Easy, take a look at usdbot (google it) got scam written all over it. I get tons of spam and junk mail from EA sellers
But boy do they make it look good !!!

Even ACFE looks like a scam site. Check out the model with the earphone micropone standing by to take your call… it’s probably not but those ‘slick’ looks… :frowning:

Any advice I give on this site is free. If you don’t find the advice helpful, move to another thread. I’m sure that a lot of people here would like to know how to spot Forex scams.

In response to TalonD; if you seriously think the ACFE website looks like a scam, why would they have a banner right at the top left stating ‘Together, Reducing Fraud Worldwide’? Don’t you think it would be prudent to check it out before slandering it?

Are we adults with minds of are own or children who must be protected? More times than not people need protection from their “protectors”. :mad:

People get scammed more often than you might be aware. They don’t frequently broadcast it in order to protect thier pride and or hide thier shame.

People in general need to be aware of how [B][I]Not[/I][/B] to fall into traps. Con artists are extremely convincing. They practice their art almost all of their lives.

The Forex market has been like a magnet to scammers. The reason is because it has been relatively easy for scammers to use the Forex to convince people that it’s an easy way to get rich…[I]simply because that’s what most people want it to be.[/I]
There are many more bad apples than good ones in the this business…as I see it.

It’s up to the would-be Forex trader to decide which is which. That, more often than not, requires some education.

Caveat emptor!

“Let the buyer beware”

That keeps us safe from Russian Bride Scams. Please let me know if I am wrong!

how do you know he’s selling 2500 usd course?

Cause I googled his name.

Everybody’s been fairly warned, I won’t be wasting more time on this charade.

Valiantly saving us all from Russian brides. LoL

gotta love that google

Hey Mr Fraud… seems you got busted!! hahaha:p

Nothing to hide…just one of many services fraud investigators provide.

Yet, I suppose the Russian mob may seem like a piece of cake to guys who cower behind pseudonyms and take cheap shots.

Who knows, you could be one of the punks I’ve busted, right?

Actually if it’s a choice between spending 2500 on good training which will take you to the next level or spending hour and hours in front of the computer learning from the school of hard knocks than I think it would be money well spent.

As he states clearly in the sign up sheet it isn’t for beginners or newbies it’s for those who are experienced in trading and want to take thier trading to the next level.

I’m not saying his training is any good ( I have no idea) only that money spent upgrading your skills usually isn’t wasted

Rob (the super newbie Madrid :stuck_out_tongue:

Always check on google with the guys name (or the name of the forex product or service). Type the word scam beside the name. Those who run scams usually pop up on a complaint forum somewhere or other.

Yeah, good point actually.

not a bad idea, did that and found this


got scroll down a bit

All is well that ends well. Thanks for the advices. For the newbies, every advise is worth it. Its up to them how they will digest the information.

How to spot forex trolls. Look for someone who posts trivial messages on every thread just so they can build up their post count.

No, something more like yours. Reminds me of Ebay sellers who sell things for a penny just to build feedback.