Thread: Is Forex A Scam?

Forex itself is not a scam, but there are a lot of scams that are connected with Forex just like any other investments. There are a lot of people who are looking of ways to scam new comers since they are gullible and don't have much knowledge yet with Forex. Forex trading is a real business where you can earn, but it does not happen overnight. You need to work hard and be patient for that to happen. Getting a Forex broker would help guide you and protect you from scam.

In "FMSMTrading.blogspot.com" I found actual screen shots of EURUSD Trades.

The Author claims he found a simple way to predict any market movement (stocks, futures, forex) and he is willing to do free of charge to prove his method works. All we have to do is ask him the counter and he will send the predictions by making trades on his demo account and he will send the screen shot on daily basis

I asked him for EURGBP and he send me email with screen shots of actual trades made on 7th and 8th. I don't know whether to believe it or not. When I test the trade details with actual chart, it fits. May be he photoshop the numbers

Is Trading really that simple?. Have any one heard about this blog?

how can forex be a scam? The only scam part is people selling stuffs to you that do not work. People that is not even into forex trading or knows very little about it. And yet they are here to sell you stuffs about forex trading. But i feel its not all bad as all this stuffs (so called scams when they don't worked) are sometimes education, knowledge and improves your trading skills.

However, it really takes a lot of time and effort to learn about forex trading. This applies to any other forms of trading be it stocks, options, futures or forex. And yes, you will waste and lose lots of money if you do not invest the time to learn the knowledge and skills required in trading.

My advise to you is to open a practice account and paper trade first. This way, you do not lose real money. From my experience, most beginners up to 90% of them, will blow up several accounts (be it practice account or real money trading account) before they get the hang of it. So don't be so eager to get into the action so early with real money.

For me, I have invested in stuffs on forex. Most of them don't work ( which you can call it scams) but for those that worked, they improve my learning, knowledge and skills in trading (and of course my profits).This stuffs will cost you lesser amount than you are going to lose in the markets for sure. I have a free eBook on forex for beginners like you. Please download it and read it and start your forex education.

Originally Posted by shaunna75

Forex itself is not a scam, but there are a lot of scams that are connected with Forex just like any other investments. There are a lot of people who are looking of ways to scam new comers since they are gullible and don't have much knowledge yet with Forex. Forex trading is a real business where you can earn, but it does not happen overnight. You need to work hard and be patient for that to happen. Getting a Forex broker would help guide you and protect you from scam.

Best answer here and agree entirely. Once you learn to sieve through all the rubbish and find the few sites of genuine and helpful content, you can spot the scams and concentrate on trading with reliable and reputable companies, with fellow traders by your side in the forums.

The biggest reason for people getting scammed, is they want a quick win, an easy and lazy buck. If you don't put the research in, and learn the industry, if your not prepared for extensive effort and your only looking for a quick and easy buck...you will fall for the scam.