How To Spot A Forex Scammer?
In recent years it has become very apparent that “Forex Signals” is becoming a highly contested part of the industry; in which many “mentors” (and I say mentors loosely) do not care if the trades they are sending to people are successful or not, all they care about is making sure they are getting their monthly subscription fee. Many of which charge premium prices for this false information, and make more money selling this false dream than they do trading and that’s if they can trade at all.
Too often scammers sell unrealistic dreams to people trying to learn how to trade; they coerce customers by selling the “invest £200 and get £2000 in 3 days” or selling the dream of nice holidays, fancy cars all achieved within a week of trading their signals.
I am here to say DO NOT FALL FOR IT. Any trader offering a 100% guaranteed return is a SCAMMER.
That is Rule 1 – 100% guaranteed profit is not a thing!
Instagram now seems to be a wash of Forex scammers which unfortunately give real traders and the industry a bad name and a bad image. Any “Forex Trader” who DM’S you randomly inviting you to “free signals” or join their course is scamming you. If they were doing so well as they are trying to say they are why would they be messaging individuals trying to convince them to join up with them.
If you ever have someone do this, entertain the conversation for a short period and I guarantee, you will be told you can achieve a massive return in a few days which will be 100% guaranteed; I will then guarantee this is a scam.
Think about it!
Rule 2 – If they randomly DM you it is a scam!
Crypto scammers seem to be on the rise; majority of which scammers are messaging individuals and promising with a small investment you can get in on their minors which turns over an exaggerated amount per day. Again think; if someone is trying to get you involved in this, but they are earning so much money why do they need your investment.
Rule 3 – Do your own research, trade through Coinbase or some other trusted site. If you want to mine your own do your research and get your own mining equipment.
There are a lot of other good giveaways but these three are what we think are the biggest signs. Protect your money and don’t jump in under the impression of quick money that isn’t a thing.
There is a difference if you are paying to learn trading, learning the indicators and strategies, and having someone there to support you for an affordable price; this makes your earning capacity as much as you want to make it.
Compared to being talked into handing over £1000s with a promise of £10000 in three days and never seeing it again.
Don’t cut corners, put in the work, and learn to do it yourself.