Forex Scams

Although forex trading is potentially very rewarding, there is no magic button that will instantly turn you into a multi-millionaire. If someone tells you forex is easy and that they have found the 'Magic Solution' to raking in millions with a simple click of a mouse, you should run far. It is most likely a scam.

The Commodities Futures Trading Commission (CFTC) has said that in recent years they have seen a sharp increase in forex scams. They warn consumers to be cautious of sales solicitations in newspapers, radio or television.

Forex trading presents a tremendous investment opportunity, but unfortunately, the fraudsters are giving the profession a bad name.

Bear in mind that not every firm that advertises a 'break-through' product is a scammer. There are legitimate forex companies out there.

When we bumped into the e-book that underpins our strategy, we immediately assumed the so-called 'forex strategy' a scam. With its hard sales push, and profitability claims it bore the hallmarks of a scam. It was only the six-week-money-back-guarantee that roped us in. And it turned out to be a good thing. We back-tested the strategy and confirmed the results presented as proof of the strategy's profitability. We never asked for our money back.

Be cautious, apply good judgment.

We suggest, also, that you do not risk your hard-earned money by investing in so-called forex clubs, or - in the absence of appropriate regulation - in those who hold themselves out to be fund or money managers. You will more than likely get burned.

Please click these links to get more in-depth info on forex scams:

Rising Number In Forex Scams
http://www.cftc.gov/enf/enfForex.htm

Public Warnings For Forex Scamso
http://www.cftc.gov/opa/enf98/opaFrexa15.htm

A List Of Known Forex Scammers
http://www.quatloos.com/Forex-bulletins.htm

How To Report A Forex Scam
http://www.quatloos.com/Forex-problems.htm