I’ve been approached by a woman on Facebook who wants me to try trading Forex via broker. She claims there isn’t anything I need to do except let the brokers do my trading. This doesn’t seem correct to me. They also are hawking 100% returns on my investment on a weekly basis. How do I determine if this is legit or not? I’m extremely interested in Forex trading but have little time or knowledge to sit in front of a computer screen and trade myself. The brokerage is located in the UK I’d love to jump in but very concerned. Opinions please Dan
Hi Dan,
seems scams have increased over the lockdown period.
Often you will see “we are regulated” etc.
Here is a cautionary tale on BBC today - if you check the names you will see quite a few people have lost money.
Run the other way!
Welcome to Baby Pips - all you need to do is to spend a few hours browsing around some topics on here and you will be saved a fortune, and the embarrassment of having been sucked in by a scam or Ponzi scheme. The world is full of them, and it is not limited to Trading either.
It has been said that if something sounds too good to be true, it is usually not true. Best of luck and exercise some patience. It is a virtue that will stand you in good stead and good company if you decide to pursue trading