How to Identify Forex Scams

/r/Scams

Online, offline, email, or postal. If you know of or encounter a scam, this is the place to let people know about it. If you have any questions, you can post here and have your question answered by people who are knowledgeable about all types of scams. If you have fallen for a scam, you can post your experience here to warn others.
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ForexTraders

An Online Community for Forex Traders.
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Binary Options Reviews, Recommendations and Scams

Here you will find objective reviews of Forex and Binary Options trading products. I will recommend on the best ones, but will also warn you from scams, frauds, or just not good enough services.
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Journalist looking for information/leads on forex scams in the era of COVID-19

Hello Forex!
My name is Ed Prideaux and I’m a UK-based journalist (VICE, BBC, FT, Guardian, Independent, Spectator, etc.). I’m interested in writing an article about how scammers are using the internet - and especially social media platforms like IG - to recruit new bait amid the financial stresses of COVID-19.
One area I want to explore is Forex trading, which has attracted its fair share of fake gurus, 'mentors' and other scammers for a while. I’m looking for tips, potential leads, and things to read and check out. Please share anything and everything you think I should see, and especially if it’s connected to COVID-19 and the economic slowdown.
Ideally, I’d also like to source some testimonies from people in the sub-reddit who were recently scammed. As above, I’m especially interested in hearing from those who were targeted and fell for a scam because of financial hardship triggered by the global recession. For testimonies, everything would be anonymous on request. If you want to help, feel free to PM me or leave a comment, and I’ll PM you.
Thanks -
Ed
submitted by sambabeat78 to Forex [link] [comments]

Not sure what action to take regarding Chinese Forex scam

Hi, I'm usually a lurker on Reddit but I created this throwaway account to ask for any advice and also warn people of this scam.
I'm 99% sure my uncle fell into what I think is very clearly a Forex scam. Now our family is in deep financial troubles. We will need to liquidate all of our assets (including our home, which we live together) to pay off our debts. How it happened:
About a year ago, my uncle is approached on LinkedIn by a women claiming to know the secrets to Forex trading. She claims to be from Hong Kong and sends him several screenshots of her very successful trade and claims she makes millions and also lives an incredibly lavish lifestyle. She tells my uncle to install a 3rd party version of MetaTrader4 to get started. Of course, this gets his attention and he downloads the app and starts taking her advice and plays with the paper money. He makes some really great gains on paper and eventually she pushes him to put in real money.
He then comes to me at the beginning to ask my opinion of this situation.
So I did some initial research and I could not find ANY information about this woman's company and her existence. She literally has less than 10 connections on LinkedIn. I also noted that it was sketchy to download a 3rd party version of this app when a version of it already exists in the App Store. I also reversed image searched her profile pictures but I wasn't able to get any concrete proof she was a scammer.
I tell him that this is most likely a scam based on what I found and his paper money gains on Forex are incredulous and that even pros don't make that much money (He and I have some retail experience trading equities, so we are familiar with the basics).
I don't want him feeling down so I let him know that if he wants to try it maybe he should put in money that he can afford to lose...
Come about half a year later, my uncle confesses that he has all of his savings and on MARGIN into this "forex broker" and that he has been unable to withdraw any money from his account. Each time he doubles his money through trading, he would make another wire transfer to add money to this trading account.
He also tells me each time he tried withdrawing money, the broker requires a lump sum wire transfer of 100k to ensure the right channels are "secured" for him to transfer the money without being targeted by something among the likes of a Hong Kong Security Law. Of course, he gets convinced to make the wire transfer thinking that the gains he makes from the trades offsets this loss...
I should mention that when he calls the "head trader" at this Hong Kong forex firm, it's a young man who speaks Mandarin..
Also I should mention each wire deposit goes to a different account.
Sorry if my writing and organization isn't the best... honestly I am still so shook from writing this... I've convinced my uncle that he should not expect to get any money back from these guys. Our current financial situation is pretty f**ked as I said earlier and we will lose our homes for this. Do you guys have any advice or paths forward we should take? I'm thinking of taking this to a higher authority in Hong Kong but also we don't want to scare the scammer away. We really don't have anything on this scammer as he communicates with us through WeChat. He never answers our calls, and only calls us when we try to withdraw the money.
I appreciate any advice you guys could give me, and I'll be able to answer any question as I may have missed a couple details..
submitted by throwaway920911 to Scams [link] [comments]

Not sure what action to take regarding Chinese Forex scam

Hi, I'm usually a lurker on Reddit but I created this throwaway account to ask for any advice and also warn people of this scam.
I'm 99% sure my uncle fell into what I think is very clearly a Forex scam. Now our family is in deep financial troubles. We will need to liquidate all of our assets (including our home, which we live together) to pay off our debts. How it happened:
About a year ago, my uncle is approached on LinkedIn by a women claiming to know the secrets to Forex trading. She claims to be from Hong Kong and sends him several screenshots of her very successful trade and claims she makes millions and also lives an incredibly lavish lifestyle. She tells my uncle to install a 3rd party version of MetaTrader4 to get started. Of course, this gets his attention and he downloads the app and starts taking her advice and plays with the paper money. He makes some really great gains on paper and eventually she pushes him to put in real money.
He then comes to me at the beginning to ask my opinion of this situation.
So I did some initial research and I could not find ANY information about this woman's company and her existence. She literally has less than 10 connections on LinkedIn. I also noted that it was sketchy to download a 3rd party version of this app when a version of it already exists in the App Store. I also reversed image searched her profile pictures but I wasn't able to get any concrete proof she was a scammer.
I tell him that this is most likely a scam based on what I found and his paper money gains on Forex are incredulous and that even pros don't make that much money (He and I have some retail experience trading equities, so we are familiar with the basics).
I don't want him feeling down so I let him know that if he wants to try it maybe he should put in money that he can afford to lose...
Come about half a year later, my uncle confesses that he has all of his savings and on MARGIN into this "forex broker" and that he has been unable to withdraw any money from his account. Each time he doubles his money through trading, he would make another wire transfer to add money to this trading account.
He also tells me each time he tried withdrawing money, the broker requires a lump sum wire transfer of 100k to ensure the right channels are "secured" for him to transfer the money without being targeted by something among the likes of a Hong Kong Security Law. Of course, he gets convinced to make the wire transfer thinking that the gains he makes from the trades offsets this loss...
I should mention that when he calls the "head trader" at this Hong Kong forex firm, it's a young man who speaks Mandarin..
Also I should mention each wire deposit goes to a different account.
Sorry if my writing and organization isn't the best... honestly I am still so shook from writing this... I've convinced my uncle that he should not expect to get any money back from these guys. Our current financial situation is pretty f**ked as I said earlier and we will lose our homes for this. Do you guys have any advice or paths forward we should take? I'm thinking of taking this to a higher authority in Hong Kong but also we don't want to scare the scammer away. We really don't have anything on this scammer as he communicates with us through WeChat. He never answers our calls, and only calls us when we try to withdraw the money.
I appreciate any advice you guys could give me, and I'll be able to answer any question as I may have missed a couple details..
submitted by throwaway920911 to personalfinance [link] [comments]

Chinese Tinder Forex Scam

I have matched up with at least 9 gorgeous Chinese women from Hong Kong or Singapore who seem to follow a similar pattern, so I think this must be a scam. I wasn’t foolish enough to go all the way through with this to verify, but I figured someone else has and can validate my suspicions.
  1. Chinese girl matches with you - not in your geographic area
  2. Chinese girl is always young, beautiful, and wealthy (lifestyle includes golfing, high fashion brands, expensive resorts in photos)
  3. Chinese girl asks you for your WhatsApp almost immediately; she sends messages daily and even throws in some cute videos or pics to bait you. She may occasionally actually call you for a brief moment (to make you think it is a real woman but I suspect there is one girl calling hundreds of guys for a minute per guy)
  4. She asks you about your profession or business if you have one and says she does something very similar (to build trust and affinity)
  5. She casually brings up Forex trading and says she makes lots of money trading Bitcoin - USD or some other variation on forex
  6. She tells you to try it, that she will teach you how or even offers to introduce you to her teacher She will send you screen shots of her earnings (one woman sent me a screen shot showing she made $75,000 on a trade)
  7. Once you agree and download MetaTrader 4 as instructed (even though there is a Version 5 out), she directs you on when to execute sample trades (usually late at night during HK or Singapore opening hours)
  8. After you do several simulations (mine generated up to $14,000 per trade in profit), she asks how much you will invest in real money. She or her teacher suggest you start with $50,000 USD or more.
  9. If you prove useless or say you are not interested, she will stop contacting you.
submitted by ElJefecitodeEnsenada to Scams [link] [comments]

forex scams

forex scams
https://preview.redd.it/i0s0opmt0up51.jpg?width=980&format=pjpg&auto=webp&s=7f4308a74dc60832eefce6bd162837d99fbc8b5b

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submitted by forexscams to u/forexscams [link] [comments]

[ZA] - Bushiri v Mboro: ‘Prophets’ to square off in high court over forex scam claims

[ZA] - Bushiri v Mboro: ‘Prophets’ to square off in high court over forex scam claims submitted by AutoNewsAdmin to IOLauto [link] [comments]

Forex scam?

This may seem like a dumb question, but....
I don’t invest but some close friends of mine in college have begun too with good results. They have been for about a couple months. However, I was hesitant and a bit skeptical with how much money they were making. They recently invited me to a seminar to hear out what they had to say and explain about Forex. Now it sounded like a cool opportunity to learn something new with my friends and earn money. They make money off of forex but also u can optionally make more money when u invite others (which is pyramid scheme I believe, although they called it “multi level marketing”). One of them has made over $5000 in those couple months I believe. There is also a fee for an online website that offers lessons, tips, and seminars from people who have actually became very successful from forex (forgot the name of it), which is what they all used and consider it very helpful. The main thing they say is that “you get out of it, what u put in”. One of them actually dropped out of college to pursue it full time and expects to be a millionaire before 30. Am I being scammed?
(Now they aren’t forcing this on me or anything, they just think it will be cool for me to join them. If I don’t it’s fine.)
As far as I know, they are just unaware the kind of scheme they are apart of and are unintentionally scamming people. They truly believe this is a great thing and have a big passion for it. Although I just wanted input from people who may have been scammed, gone through a similar experience, or have been using forex for a long time.
Edit: well good to know it is a scam, which I thought so just wasn’t sure.
submitted by MasterDRU21 to investing [link] [comments]

Forex Scams

broker scam
If you got scammed by a forex scam broker or a crypto scam broker you can now get your money back! Forex trading scams are on the rise in 2020 and money people look at a solution to return their funds.Broker Complaint Registry will help you get your money back with a tailored solution. Don't give up.Let us guide you and explain the process.
submitted by brokercomplaint1 to u/brokercomplaint1 [link] [comments]

Forex Scam website

I have been scammed by this fake forex website. How do I take down their website so nobody fall for it anymore.
scam website
The moderators should check this out, because there might be many more falling for this.
submitted by frrbz_ to Scams [link] [comments]

How You Can Identify Forex Scams!

How You Can Identify Forex Scams! submitted by FinancialMarketJunky to u/FinancialMarketJunky [link] [comments]

Forex Scams

Forex Scams submitted by brokercomplaint to u/brokercomplaint [link] [comments]

Forex Scam Brokers Scam List

The number of forex scams you can discover with only a direct pursuit on Google is stunning. There are many forex trading scams lawbreakers out there who sit tight for beginner merchants with the goal that they can cheat them, in a market where over $5 trillion moves every day, there will undoubtedly be individuals who need to exploit fair merchants.
https://www.topfxbrokersreview.com/forex-scams-brokers-list/
submitted by scambroker99 to u/scambroker99 [link] [comments]

[ZA] - Consumer Watch: Fooled by a forex scam? Get your own back | IOL

[ZA] - Consumer Watch: Fooled by a forex scam? Get your own back | IOL submitted by AutoNewspaperAdmin to AutoNewspaper [link] [comments]

[ZA] - Consumer Watch: Fooled by a forex scam? Get your own back

[ZA] - Consumer Watch: Fooled by a forex scam? Get your own back submitted by AutoNewsAdmin to IOLauto [link] [comments]

A review on a book subtitled “America love in god, heal America”. The author claims it is an international best seller on their Instagram page. I found it when looking at the author’s comment on a forex scam account asking for tips in “investing”.

A review on a book subtitled “America love in god, heal America”. The author claims it is an international best seller on their Instagram page. I found it when looking at the author’s comment on a forex scam account asking for tips in “investing”. submitted by skullchainz to religiousfruitcake [link] [comments]

Forex Scams Broker List

which I can get the chance to help me in my exchanging. In any case, one day I arrived on a site which sell a Forex instructional class bundle, this site asserted that the its technique brings about a benefit rate around 80% in all cases, I read more on this course enough to be inspired to get it, particularly its cost was truly reasonable to me ($99 aggregate for the 5 eBooks). When I got the eBooks, forex scams I started perusing
each and every word in them with unquenchability, and - for trustworthiness - it was the first run through for me to peruse in quite a while about Forex cash the board and hazard the executives and their essential standard in Forex exchanging, yet this was all I had gotten from this course, not much. I attempted to contact the creator of the Forex course to inquiry him around a few focuses with respect to his preparation program, and learn to expect the unexpected.
I didn't get any reaction from him, I reached him up to multiple times, anyway I didn't hear single word.This was the exercise #1 I learned: It isn't about the preparation program, it's about the AUTHOR of this program, would he say he is alive man? is he a genuine Forex dealer OR: he's only an educator of hypothetical talks in Forex exchanging! The exercise #2 I learnt was: What is level of the specialized help given in the wake of buying his Forex preparing program? will I discover him when I need him?
Following an entire year, I would have left nearly Forex exchanging and engrossed by different organizations, however one day while surfing on the web, I found unintentionally the Forex Mentor site, and once arrived on the primary page, at the principal sight I skeptically snickered and said to myself: "Another Scam!!"
In any case, I began perusing all the data on his preparation program and the primary thought behind it: Pivot Points. I started by and by deduction genuinely to come back to Forex exchanging, and chose to buy this program of Peter Bain, however for the main look, I was baffled at its significant expense ($495 for a printed version on CDs, or $349 of the computerized duplicate). A little while later of profound thought and attempting to choose whether I'll purchase or not, I said to myself, I lost in the Forex exchanging the previous a few thousand of dollars, let them be a few thousand PLUS $495!!
I read each word on the Forex Mentor Website, I gathered each data accessible about the Author (Peter Bain) and his history in the Forex and stocks showcase, I read numerous free surveys about this course. In spite of that, The most significant factores urged me to purchase Forex tutor course were as the follows:
submitted by emiliclark44 to u/emiliclark44 [link] [comments]

How To Avoid Forex Scams

Greatest market earth, Forex is short for Foreign Exchange, once in a while just called FX. More than two trillion dollars is exchanged Forex each and every day. Forex is the most fluid and biggest market on the planet. In the past cornered by the Forex Scams significant financial establishments, enormous examiners, and major outside money vendors, it is currently open to most (even little) speculators. It's extremely truly simple to figure out how to exchange Forex.
Why the influence of influence makes Forex dealers rich and more extravagant
A modest quantity of capital would now be able to use enormous situations on the Foreign Exchange showcase. For example, with 100:1 influence, simply making a $1000 venture can use $100,000. There is tremendous expected addition with this sort of influence, when you have figured out How to Trade in forex.
Where does this Forex exchanging happen? A huge number of areas everywhere throughout the world, at cash trades, on phones, and work stations. Forex exchanging should be possible right on your own PC. There is hazard required, likewise with any undertaking. However, your misfortunes can be way limited. What's more, the benefits or gains can be completely amazing.
What is Foreign Exchange fundamentally?
Rather than fates, stocks, and wares, Forex is a Foreign Exchange of 5 significant monetary standards, the U.S. Dollar, British Pound, Swiss Franc, the Japanese Yen, and furthermore Eurocurrency. More or less, you're fundamentally getting one money in expectation or indication(s) that it will pick up in esteem contrasted with another cash.
The instability of the enormous Forex markets is impacted to a great extent by the unpredictability all through the world. Politcal flimsiness, the ascent and fall of governments, cataclysmic events, and changes in global exchange are only a few factors in variances of the Foreign Exchange. Vacillations that bring about tremendous, and regularly exceptionally unexpected benefits for brokers who realize how to exchange Forex.
Things being what they are, how can one figure out How to Trade in forex? There's no preferable educator over a prepared veteran. There are a significant number of these on the web with different projects, strategies and procedures. Exchanging Forex isn't "advanced science", however numerous advertisers make it sound that way. It very well may be extremely basic. Keep it that way and watch for a couple of key things. The connections here will make it straightforward for you to break into this remarkable market.
submitted by forexscams44 to u/forexscams44 [link] [comments]

I see alote of assholes trying to steal people's money using forex scams.

submitted by jaguarae to Forex [link] [comments]

Is this a classic Tinder Forex scam?

Found a girl on Tinder from HK and supposdely living in my city London.
We talk here and there, limited language barrier. She mentions she is a trader and sends me screenshots of the money she is making. She then asks me if I can do a trade with her because she 'needs to visit the embassay'. So she gives me the login details for her account to which there is 17k USD dollars in there which is very bizzare and overly trusting anyway I go with it. She said please can you contact this guy called 'Johnson' who is a broker for her brother. So I message Johnson saying hey I'm making the trades for my friend...so on 2 separate days he advises when to buy and close the trades (around 2-3pm both days). 1st time made 7k profit and 2nd time about 2k profit. It all seems too good to be true..none of these people have been pushy and it al came from me asking how I could get involved etc but I guess thats all part of the plan.
He offered to create an account for me which I did and he said whenever you want to deposit and start trading let me know, in return you just give me a percentage of you returns depeneding how much you are trading with. For example if I deposited 2k USD he would take 20%.
So he makes me an account on MT4 which I downloaded from the google store, not a dodgey APK. I wonder why not MT5...
The website where I am supposed to deposit the money is https://www.airpas.io/
The server I connecting to is: MT4AIRPASS Hedg Gapital Limited
https://beta.companieshouse.gov.uk/company/12057582 (is this even a legit site? the beta.xxxx seems odd).
https://opencorporates.com/companies/gb/12057582
I am guessing I am connecting to some fake server that has old fake data and he just makes it seem like I am buying and selling according to his knowledge?
submitted by greenkomodo to Scams [link] [comments]

Instagram Forex Scam- Has anyone else encountered this?

Hi r/Scams, I have to confess I'm not a forex trader nor am I familiar with anything about it other than someone on instagram DM'd me and told me it's the easiest way to make money. We'll call the original account "L", and I never fell for his scam. I did have some fun messing with him though but got bored with it last October.
Fast forward to today, I find out that L's account has been taken over by his "grandson" B. Interestingly, the account changed ownership to B after the original owner, "L" passed away. Logically, the account was taken over, with its first post changing to a memorial to L with a "RIP Grandpa" caption.
Along with the new ownership there are new posts showing the young man whom I am assuming is B doing all sorts of cool things, like owning an Audi, staying at expensive hotels, and not always looking like the same person in between posts.
Point is, I want to know if the scams community has any knowledge of this account and whether or not it is a scam. I never bought into anything the original guy, L, was selling and obviously if this is somehow legitimate I do not want to disrespect a dead man. I have my doubts about legitimacy though (partially because B just told me I could easily be making $5000 from the comfort of my home).
I can provide screenshots if anyone is interested. Thanks!

Edit: Removed specific details to follow the rules :)
submitted by thatsijohnic to Scams [link] [comments]

How To Avoid Forex Scams


  1. The fledgling Forex dealer can choose a self-coordinated internet exchanging methodology. This kind of expert merchant chooses the Forex Scams best stage that fits with a general technique. The online stages are managed. There will be a commission expense for any offer or solicit orders put through this sort from online framework.

  1. The new Forex dealer can choose to utilize an online tutor framework. There are counselors accessible through a few of the internet exchanging frameworks. Workshops are offered that help with outline choices and request investigations.

  1. There are online robotized Forex exchanging frameworks that can be chosen. These records for the most part require a bigger store sum that is remembered for a pool of assets that are exchanged together.

A Forex Trading Journal

The online merchant getting by through self-guided Forex exchanging might need to devise an individual exchanging diary. Composing a different diary can keep an ongoing record of the online exchanges that are finished. There are extra motivations to keep a Forex diary, and these reasons are the accompanying:
submitted by jenniferjenne1 to u/jenniferjenne1 [link] [comments]

Forex scam

07958483831 this number is a forex trade scammer who goes by the name 'forexbossahmed' scammed people out of thousands with his get rich quick trade scheme absolute scum of the earth
submitted by Mandemclipper to ScamNumbers [link] [comments]

My Dumb A** got SCAMMED by FOREX Lost $500 - YouTube Stay AWAY From FOREX SCAMS!  STORYTIME - YouTube How to spot a FOREX scam  4-steps - YouTube I GOT SCAMMED * FOREX SCAMMER EXPOSED* - YouTube How To Spot a FOREX SCAM! - YouTube

How to Avoid Forex Fraud and Scams. Author: ForexFraud Published: 11th August, 2020. If you’re somewhat new to the forex market, it can be an overwhelming place. Being subject to relatively loose regulations, it is a vast, confusing labyrinth with a daily trading volume – options and currency futures accounted for – of upwards of $5 trillion. Many scams in the forex market are no longer as pervasive due to tighter regulations, but some problems still exist. One shady practice is when forex brokers offer wide bid-ask spreads on certain ... Forex.com is not a proven scam company but it looks not very reliable to say the least. Experiences with Forex.com. To judge a Forex broker it’s best to take a look at other traders experiences: I’m trading with them for 3 years and never had issues. Great platform and good spreads. The support is great. They also pay interest in your account. However, there are three major types of forex scams that people commonly fall victim to. Below we will explain how these work, as understanding them is the first step in avoiding them. 1) Robot Scams. A Forex robot is a trading program which uses algorithms, or lines of computer code, as technical signals to open and close trades. Not all Forex ... Forex management funds have proliferated, but most of these are scams. They offer investors the "opportunity" to have their forex trades carried out by highly-skilled forex traders who can offer outstanding market returns in exchange for a share of the profits.

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My Dumb A** got SCAMMED by FOREX Lost $500 - YouTube

So recently, I inadvertently went to a MLM event that involved the discussion of Forex, and this is my PERSONAL OPINION on how I felt about it...no offence t... Here are 4 steps you can use to assess whether the company you would like to work with is a honest and healthy company OR if the company is just a Forex scam... Im such a crybaby but Ya this is my story on How I got Scammed by Forex. Get A Ticket to My POP UP0p]: https://www.ashakosh.com/shop NEW VIDEOS EVERY WEDNESD... ⛔️ ⛔️ ⛔️ 📚📈 LEARN TO TRADE / INVEST & MAKE AN EXTRA INCOME 👉🏾 https://goo.gl/NAWDXP 📸🎥 EVERYTHING I USE TO MAKE VIDEOS: https://goo.gl/3gXEUB ⛔️ ⛔️ ⛔️ ... Forex trading is a scam. Forex scams and forex trading are very popular. 100% of the gurus on YouTube who claim to be profitable forex traders are frauds Dis...

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