Its very easy for new forex trading investors to get taken in by some sort of forex scam or another. This can include just about any idea under the sun that scammers can come up with. Usually the realm of forex scams can include, software and e-books that guarantee a profit in the forex market, an unscrupulous market maker that spikes costumer accounts so they can get their fees, general false advertising, and even those with fake sites that just take your money and disappear.
The nature of the currency market tends to leave new investors vulnerable to such scams, simply because it fluctuates a lot and little is known about the market by the general population. Its up to investors to educate themselves on forex trading, just as they would before making any other investment if they expect to do well. This includes being aware of common scams. In 2001 the US Commodity Futures Trading Commission (CFTC) released nine tips investors in the forex market should keep in mind when looking for a broker:
Stay Away From Opportunities That are Too Good To Be True
Avoid Any Company that Predicts or Guarantees Large Profits
Stay Away From Companies That Promise...
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