Posts Tagged ‘Scams’

How Forex Brokers Cheat Traders?

Gil BZ asked:

The Forex market has evolved a lot since the days before the retail Forex market existed. Every day a new Forex broker open up shop, and every day new Forex trader fall into their traps. That is not to say that every single Forex broker is a scam, that is simply not true. However, unfortunately, there are many brokers who take advantage of new traders by promising them things they cannot deliver upon.

Whether the broker is offering exclusive bonuses to open an account, extraordinarily high leverage with which to trade, or competitive spreads on the various currencies, many brokers make promises and then deliver nothing other than disappointment.

It is important that traders understand how the whole Forex broker thing works. Depending on the type of broker, it is a common occurrence for your broker to take the other side of your trade. What this means is that when you lose, they gain and so their best interest is to make you lose. Now, does that sound like a broker you want to depend on for customer support and a stable trading environment?

Some of the tricks a Forex broker will play on traders is execute the trader’s requests with a delay so that they gain from the late response, as well as other tactics to make the trading experience all that more difficult.

I am not even going to talk about the full fledged scams out there that actually take a trader’s money and do not allow them to withdraw funds after they made some nice profits. Sounds pretty insane but that is the unfortunate reality of the Forex market.

It is for this reason that reading Forex reviews and doing research before choosing a Forex broker is not al luxury, it is a necessity every Forex trader cannot afford to miss.

Make the right start with FOREX picking the right Broker

where can i learn advanced forex trading strategies ?

Alex P asked:

Hello all, first of all i want to say that i already know all forex beginners materials i know what pips means what moving average means, MACD , indicators, robots, experts, RSI, …. and all that stuff …

now i still want to learn more advanced things to go one step farther to learn a real working strategies, step by step …

from choosing a good currency pairs , to picking the right direction (bearish or bullish) to enter the market and where exactly to exit the market (where to place the Take profit or Stop loss orders)

i’ll be more than glad if someone already passed those steps , already making a profit from forex with real account (not demo) and could just post a helpful link or advice to start from..

i don’t care if the tutorial website you point is free or not i am ready to pay money for good advanced forex trading courses but i am scared to end up with a scam one, because as you know about 99% are scams and all they want is your money , and they don’t give you a real worth course …

thanks all

Make the right start with FOREX picking the right Broker