Forex market, as one of the largest markets in the world, is very lucrative and opportunity tempting for anyone, and therefore most scammers will use it to attract people to their schemas and steal money from them.
The Internet is, unfortunately, very convenient for scammers and it is relatively easy to deceive people.Today anyone can purchase a domain name and setup a website for less than $ 100. it is also possible to hire an expert to create a site for a relatively small amount of money.
In addition, most people aren't so familiar on the Forex market that makes them easy targets because it is very easy to promise dreams and manipulate numbers and information submitted.
Scammers can easily hide from the public, and once fooled, getting money back is very difficult and often impossible.
The most common scams are several Forex investment programmes, also known as HYIPs, or High Yield Investment Programs.Scammers usually present themselves as financial experts who can bring unrealistic profit by investing in the Forex market, stock market, oil, stocks online, several companies offline, etc. and offer a chance to profit in your "experience" of potential victims.
Scam is generally seen as a great investment opportunity, sometimes with unrealistic returns (200% to 300% within the next days), and many people decide to invest money into it. the problem is that every investor should expect a certain amount of time before money can be withdrawn. For example, if a program offers 300% within 10 days, this means that if you invest $ 100 after 10 days of this "expert" "" you'll earn $ 300.During this time investment is blocked, which means that you cannot remove a single penny before 10 days expire. Obviously this time is necessary for the owners of program "trade with money invested" and "profit" for investors.
What is really happening during this time, nobody knows for sure, but here is the most likely scenario:
You invest a certain amount of money and have to wait 10 days before you can withdraw all the money. During that time scam artist promotes your program on the Internet to find more potential investors.Scam artist also offers investors a Commission for each new investor who bring which makes the promotion of your site (scam).
Each of the new investors invest sums diverse and each one has to wait ten days before withdrawing any money after the first 10 days scam artist generally collects enough money to pay their investors initial seus lucros. They are happy because they won a lot of money and decide to tell everyone they know about this program.
The number of investors begins to grow exponentially, and the scam artist is collecting the money.In a moment he has enough money to live happily ever after and can no longer pay profits to investors. then is when he decides to stop issuing payments and HYIP collapses.In this scenario the first few investors made money, while many others who joined later lost their investments.
Other scenarios are also possible where nobody gets paid and scam artist only collects money, makes promises and suddenly disappears with your program.In addition, many scam artists come back later with a new look under another name and website and scam people again.
Some of them even offer realistic investment returns and use it to attract more investors, but one thing that never know about this type of programs is when they stop making payments or when they will disappear.
High Yield Investing Programs are just one type of forex scams. There are many investment programs that offer more unrealistic income through some kind of get rich quick scheme involving trading forex.There are also a lot of shady Forex brokers that offer foreign currency futures and option contracts and they should be avoided at all costs.Some of these programs may seem legitimate and can be very difficult to recognize, but always keep in mind his only goal-to take your money.
The best recipe to avoid getting scammed is use your diligence. If something seems too good to be true, it probably is. Also pay attention to every detail when you come across some sites that offer "great opportunity" and always do an in-depth investigation. it is difficult to say whether there can be real programs that really trade with money invested and generate profit for investors to invest there, but probably less than 1% of all programs and investments are private, these programmes offer low returns and rarely accept new members.
Never leave any offer tempting cloud his judgement. be suspicious of each offer where you have to decide and act quickly, as phishers often use this technique to prevent you from thinking too much about that. Always do a search and you will never be wrong. If the offer is genuine, he won't disappear overnight and will be available tomorrow.
If you are interested in investing in forex, arm yourself with knowledge-learn as much as you can about Forex trading and thread carefully in the Forex market also find a lot of forums and online discussions about forex trading on the Internet and join them. they are excellent source of free information and even give you the opportunity to interact with other Forex traders. you can see, opinions and experiences from different people about various issues. Forex trading strategies, HYIPs forex scams, and other investments, programs, and even ask questions about anything in particular.
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