In my search for a broker I’ve noticed quite a few with race cars plastered about their websites. Am I missing something? What do race cars have to do with forex?
Nothing. Chances are that those brokers want to reel in more customers with the get-rich-quick-mentality, which is the complete opposite of forex. Also, this reminds me of something. Does anyone else notice an alarming increase of forex ads on websites such as facebook,youtube etc. or have i been living under a rock this whole time?
Maybe we have both been living under a rock, but I have noticed the same thing. I also visit a boxing forum, and Forex ads have turned up there, too, recently.
Google “Interactive advertising” & read about it in wikipedia!!!
Holy cow! That really crept me out. Next thing you know they’re gonna “interactivate” your toilet and see which toilet seat your buns are most compatible with :D.
Living under a rock or not, I have recognized that many brokers try to catch quick rich believers with competitions, “free money” promotions, a lot of flashing and colorful ads and some tricks regarding mentioning low(est) broker expenses while the real expenses linger at other places like transaction fees, ridiculous rollover yields etc.
If I look at my broker where I had my most active trading going on in the past if they would have put more effort in improving execution reliability instead of those promotions going on they would have still my money to get interest on. Them lost it, because I switched to a broker where the website looks rather boring, but the execution reliability is much better.
Right now it becomes a first flashing sign of a bucket shop to me if a broker’s website is plastered with such stuff. I do not wont promotions, competitions or other loser gadgets, I just wanna have reliable execution and fair rules.
This sort of forex advertising isn’t new. Only the players, and the venues, have changed.
Does anyone remember the late-night infomercials on American t.v. about 6 or 7 years ago for such products as “4xMadeEasy” and “PremiereTrade”? The same guy (James ****s) was involved in the launch of both of those products. Evidently, Babypips thinks the guy’s last name is obscene — I guess that should be a tip-off, right there!
Regarding race-cars on forex sites, when we first started the “Going Offshore…” thread, here on the forum, we had two brokers — both Swiss banks — on our list of offshore brokers. I noticed a stunning difference in the “look” of the websites of these two banks, and asked the question “Do the Swiss have boy-banks and girl-banks?”
The two banks were MIG Bank (apparently a boy-bank), and CIM Banque (apparently a girl-bank).
Check out their websites:
Forex Broker Trading | Best Forex Broker- MIG BANK
CIM Bank | Private Banking | Swiss Bank accounts | Online Services
I’ve often said that the 5 factors which drive the forex market are greed, fear, testosterone, adrenaline and caffeine.
I guess the race-cars are meant to appeal to the testosterone in us all.
My apologies for hijacking this thread, but…
Speaking of forex and testosterone, I saw this stuff advertised somewhere, and it cracked me up —
[B]Don’t let low testosterone destroy your FX trading — Order today![/B]
Okay, just wanted to make sure I wasn’t missing anything with the race cars because I remember the first time I saw the term, “naked trading”, err… it wasn’t what I thought it was, lol.
At least it’ll be easier to spot shady brokers.