Forex trader scammers?

Hi guys,

On facebook and youtube, there are many pages and channels popping up to do with forex trading, these guys are usually under 25 years old and try persuade noobs like myself that forex is really simple and you can live large without working a day job in your life, they usually post videos of nice locations, accommodations and vehicles, which I presume are rented out to fool people into thinking they bought them with forex money.
my question is, are these guys legitimate traders and just try to make an extra buck from “teaching” or are they complete frauds and post false profits and false trades, whats your take on this guys?

here are some examples (all on youtube)
Jay Pelle
Quillan Black
PLATO

A very good and helpful general principle, when dealing with any kind of money-making “opportunities” on the internet, is to steer well clear of anything that presents itself with an aura of “income claims” whether explicit (“You too can earn $5,000 per month”) or implicit (pictures of fancy villas, wads of money and Ferraris).

Anyone who tells you making money consistently on forex is easy is either deluded or lying- its damn hard work and requires a lot more discipline than people realise.

Hi dear all…i am facing big problem now…i have been investing in some money since January…but i cannot withdraw my money…i i listen everywhere FreshForex is a scam…is that true ? I really worrying now…

Hey Charvibela,

That sounds horrible, i have not heard personally of FreshForex ever, but indeed, if you type in ‘‘Freshforex scam?’’ into google it only shows bad things.

What do they say when you try to withdraw your money?

Next time, whenever chosing a broker, always make sure it is regulated by a legit entity and i always type in the broker name with the word scam behind it into google as well.

Lastly, whatever you do, do NOT engage in ANYTHING that has to do with BINARY OPTIONS.
Binary options is the devils voodoo when it comes to scam, my friend lost 400 euro and the internet is riddled with scammers that try to take advantage of people using manipulated charts and make you lose on purpose.

hope it helps.

Pipeater

1 Like

I’d hate to ruffle some feathers, but it’s actually not that tough when you advance from the learning curve. Unfortunately for me my account [when I eventually turned profitable] was rather small.

I have a full time job and can still manage to be profitable net of each month end.

As Lexy wrote in a previous post on a different thread, it really is ‘about doing the basics very well’

One should be very careful, there are so many forex scammers out there posing as legit. They are complete fraudsters trying to lure you into losing your hard-earned funds. They claim they are legit traders trying to teach you. When it’s too good to be true, trust me it’s scam. The Forex market is a legitimate trading market where the world’s currencies are traded. It is not a scam in itself, these scammers are the ones making forex look like a scam. Be careful, make your researches well, don’t be greedy, don’t just believe everything you see, and take your time. With this you will be fine