Like any other business, you will find scams. This is a link to the CFTC (Commodity Futures Trading Commission), they have some information on fraud and how to report it. It may come in handy, nobody wants to get scammed but it happens to the best of us!
I really hope I don’t get scammed, but I guess in the event that I do I will need to know where to report it. I read the CFTC report, they make it sound even scarier than the schooling does…lol
I would have to agree, I think I have read long enough though. I think it is time to demo. Wish me luck and pips…lol
I do think it is kinda scary, probably intentionally. I guess you have been warned, it is useful to know where to report though. I really don’t know what the scam rate is in the Forex, I would think people would do some checking before handing over their cash.
Here is an excerpt from and article about Forex scams, you can get an idea of how common it is.
"The Multi-Billion Dollar Business of Investment Fraud
Americans are investors. We purchase stocks and bonds, contribute to savings programs,
own real estate, participate in futures and options markets, acquire collectibles, provide start-up capital for new business ventures, buy franchises, and the list goes on. The strength of our economy is in large measure the product of our combined investments. Perhaps more so than any people in the world, we enjoy an ever-expanding variety of investments to choose from, coupled with the freedom to make our own investment decisions. It’s our money and we can invest it as we wish. Unfortunately, some unscrupulous promoters abuse our freedom to choose by concocting investment schemes that have zero possibility of making money for anyone other than themselves. Such persons promise investment rewards they cannot possibly deliver and have no intention of delivering. They are swindlers. And many of them are very successful. Their annual take through lying and deceit is estimated to run in the billions of dollars. How do they do it? Successful investment swindlers use every trick in the book, and some that aren’t even recorded, to convince you that none of the descriptions and precautions in the following pages applies to them. After all, they are offering you a once-in-a-lifetime opportunity to make a lot of money quickly and you do trust them, don’t you? As will be seen, some of their methods of gaining your trust are truly ingenious."
You can read the rest of the article here if you want http://www.forexfraud.com/commodity-fraud-forex-fraud.htm
Another good service for checking scams and spam is http://www.snopes.com/. It is amazing what you can find there.
I wasn’t aware Snopes had a Forex information. I should have known, they have a little bit of everything else. That is another website I love, I haven’t been in about 6 mos though.
I have never been to Snopes, up until now, they have everything. I can’t believed I missed this diamond in the rough. I didn’t see any Forex information, but they have everything else.