Forex Article


Some of may ever hear about Forex scam. Today there are many forms of Forex scam that we need to be aware of. More people are playing with Forex investment today. Therefore, there are some parties who use this opportunity to do a Forex scam. There are many Forex investments around us or on the internet which eventually led to the fraud. Therefore, we must really understand and be aware so that we do not become a victim of a Forex scam.

Fraud using Forex investment has become more often nowadays. Many people have become the victims and lost with huge value. Some of us may have offered a Forex investment with a huge advantage. It can be 10%, 20%, or even 100% every month. However, do not immediately interest to make this investment. We have to really look at whether this is a fraud or not. There are things we need to know that the Forex investment actually cannot provide benefits to the fixed value of profit every month. Therefore, if someone offers and promises that, it can be a scam. Here are the signs of Forex scam that need to be careful and aware.

  • We do not need to work hard

    If there is someone who offers Forex investment with huge profits without having to work hard to get it, do not believe it. It can lead to fraud. Forex scam is usually done by various ways of approach. One of them is in this way. They offer huge profits and we do not need to strive to get it.

  • There is a money game has to offer

    If we are offered a Forex investment with member-get-member system, it can be a scam. It is one of the new ways, a Forex scam is looking for the victims. They offer greater benefits to us if we are able to invite others to join. This will usually lead to the loss for all the members.

  • Do not believe all sellers of trading systems / indicators / Forex robots

    When we offer to buy trading systems / indicators / Forex robot that will make us gain greater profits reached 100%, do not do it. This is a fraud.

As we know, doing Forex trading means that we play probability. Therefore, the offers above are able to be a fraud. We have to be a smart investor. We have to do some research and find a lot of information before we make an investment. If we want to do Forex trading, we have to find a lot of information and knowledge before we start doing it. So, we can think intelligently and avoid Forex scam.

Fraud by country

To aid with transparency, some regulatory authorities publish in to public domain the following: list of regulated companies/firms, warnings to regulated companies, cases opened against regulated companies, fines levied to regulated companies, revocation of companies license as well as general news announcements.

United Kingdom

The Financial Conduct Authority (FCA) website lists guides to aid with avoiding fraud/scams as well as public list of warnings recorded by the FCA.

  • Official FCA Investment Firm Warning List
  • Online guide on how to avoid scams
  • FCA Guide on how to report a scam
  • FCA Investment Scam support website
  • FCA News on Investment Firms

Cyprus

The Cyprus Securities and Exchange Commission (CySEC) provides public access to information regarding the process for how to obtain a CIF authorisation as well as listed the current and past CySEC authorised companies.

  • List of current 'Cyprus Investment Firms' (CIFs)
  • List of former Cyprus Investment Firms
  • List of issued CySEC Warnings
  • List of announced Board Decisions (including fines)

Convicted forex scammers list

  • bestfxworld.us
  • BForex.com
  • btrfx.com (Boston Trading & Research, Craig Karlis, Ahmet Devrim Akyil)
  • Buyexpertadvisor.com (Remforex.com)
  • CapitalBlu.com (profxalerts.com)
  • CapitalOneForex.com
  • CapitalOption.com (Trademarker)
  • CDHForex.com (CDH Global)
  • cfscap.com
  • Citrades.com (CitiTrader.com)
  • CityEQ.com (City Equities Ltd)
  • CommexFx.com (Abdel Rahman El Omari)
  • CRECapCorp.com (CRE Capital Corporation)
  • crownforex.com
  • DragonPips.com
  • Elite-Financials.com (Rizwan Awan)
  • emoneypower.com
  • EMPfx.com (E-Money Power)
  • EverestMarkets.com
  • Forex-Age.com
  • GTCapitalInvestments.com
  • imoktrade.com
  • Joel N. Ward
  • StartForex.com
  • texmanagedfx.com (Khalid Alam)
  • Russell Cline
  • Russell Erxleben
  • RedUluru.com
  • WinCapita
  • YouTradeFx.com