I’m pretty sure everyone has seen these fake forex traders all over social media. It seems they’ve grown over the last couple years. Constantly recruiting and enticing inexperienced starry eyed hopefuls. If you’re brand new to this market, PLEASE beware of their schemes. I created a Youtube video breaking down their duplicitous tactics. Take a look when you get a moment. Best of luck to you all in your journey. May the PIPs be with you.
3 Likes
Thanks, you are doing God’s work
1 Like
Thanks so much. I put a lot of research, time and energy into this episode. Somebody needed to call them out and explain their scam. So I figured why not me?
Social media is full of scammers; tons of unrealistic screenshots!
1 Like
that is good warning. thank you
1 Like
Thanks! That’s much appreciated.
Too many out there to be honest. Stay away from Instagram especially as most of them are full of BS.
1 Like
They’re the worst
1 Like
Thanks for making us alert.
1 Like
bad market is bad, partly in some individuals because of greed. they just focus and greed on investors. and this technique is still used continuously 
1 Like
Sadly yes.
It’s important to be careful of any social media scammer and always go for regulated broker.
It would be great to hear of BP members’ actual experiences with “traders” on Instagram, Telegram and Signal.
I watched a great documentary on BBC iplayer called ‘scam land’ . Exactly about forex scams and seriously dodgy broker that signs uk clients up who assume they are with the UK office but actually signed to their Bahama office. This means they are not regulated by FCA. Well worth a watch
1 Like
Be good to also hear of people out there who aren’t scammers and worth listening to. I’m naturally sceptical so not sure who to trust.
I’ve seen a couple threads but I’ve not seen anyone with actual experience with them. Now v curious.
Tom Hougaard runs a very good Telegram group. He’s a very transparent, high stakes scalper, so not everyone’s cup of tea.
He has a good website with a lot of educational stuff TraderTom.com
But, beware he has a lot of scammers pirating his name!
Everything he does is free.
2 Likes
Thank you for this information, it is tough out there. So many traders get manipulated by scammers and lose their money.
If someone guarantees you profit trading forex, that is pretty much a scam. There are also plenty of scam brokers out there as well so be sure to check their license and info carefully so you don’t fall for one.
I just got done reading some posts on another forum about this. One guy met someone on WhatsApp and said she even reached out and made friends with his mother. Overall, he sold his house and rented out a small room so he could invest $100k with them. In the end, he requested a withdrawal because he needed funds for some sort of emergency and then they disappeared. Scammers are getting a lot better at hiding it these days, the WhatsApp and Tinder scams are kind of red flags to me but for those that don’t know a lot about it, I can see how they lure them in.
1 Like