Today's Forex And Forex Trading News
Our Featured Learn Forex Writer
Win Big Time In The Forex market With This Amazing Forex Strategy System II
How To Avoid Some Common Forex Scams
By Gregg Hall
There is an old saying that states, "A Fool and his Money are Easily Parted". With the proper strategy and resources from which to educate yourself, there is no reason to be foolish. With all of the opportunities to make money from home there are plenty of people who can't wait to get right in and get started. The problem is, there are also plenty of scam artists out there who are all too willing to rip you off if you give them half a chance. In the Forex industry, experienced traders don't fall for the scams, but people who are new to the industry are ripe targets. Therefore, you need to know what to look out for. There is an old saying that states, "A Fool and his Money are Easily Parted". With the proper strategy and resources from which to educate yourself, there is no reason to be foolish. With all of the opportunities to make money from home there are plenty of people who can't wait to get right in and get started. The problem is, there are also plenty of scam artists out there who are all too willing to rip you off if you give them half a chance. In the Forex industry, experienced traders don't fall for the scams, but people who are new to the industry are ripe targets. Therefore, you need to know what to look out for.
The government agency that regulates Forex trading, as well as other futures and commodities markets, cautions newcomers to watch out for the scammers that try to paint unrealistic pictures of huge profit potential in Forex and other trading markets. Recently they have also put out numerous fraud alerts for consumers specifically about scams involving the foreign currency exchange market. Here are a few of the tips from the CFTC to give you some insight on how to avoid scams.
First off, you always need to be wary of people who promise huge returns at low or no risk. If you see ads that say things like, "Make $2500 in minutes" that is a pretty good sign that they are not a reputable company. A reputable company will always temper the allure of large profits with warnings that you can also lose just as big or bigger. The Forex market is not a cash cow; there are risks just as there is with any investment opportunity. People who are unaware of the risks involved usually quit trading when they begin losing money.
You were equipped at birth with the ability to question and reason. Use it and be suspicious of everything until you verify that a company is reputable. Use the CFTC and investigate the company or broker you are thinking of doing business with by checking their fraud alert pages. Another good thing to do is see if the company is registered with the CFTC or if they belong to the National Futures Association. By using these resources you can easily find out if there have ever been disciplinary actions taken against the company you are investigating. You can also verify addresses and phone numbers. With the ease of access on the Internet, it has become increasingly easy to run fraud scams with false credentials and fake names.
Just think about how easy it is to have an online presence now. A Domain name is less than ten bucks and you can get web hosting for less than $10 a month. That is a pretty cheap investment for the opportunity to reach millions of people and part them and their money. Be sure to take the time to investigate and verify the people you are considering with the agencies I mentioned above before you give them any private information or credit card numbers. Forex trading can be a wonderful experience and business. Just make sure you work with a reputable company and do your homework.
Gregg Hall is an author living in Navarre Beach, Florida. Find more about this as well as online Forex trading at www.FXTradingStrategies.com
Additional Info On Forex Today
forex news
The primary factors influencing exchange rates include the balance of payments, the state of the economy, implications drawn from chart analysis as well as political and psychological factors.
easy forex
The highly liquid and volatile currency markets offer opportunities for speculators every day. Most speculators tend to focus on the so-called �majors,� which are the most actively traded currencies and include the U.S. dollar, the euro, the Japanese yen, the British pound, the Swiss franc, the Australian dollar and the Canadian dollar.
forex data
The beginner forex currency trading should take note of the major currencies are the U.S. dollar (USD), the Euro dollar (EUR), the Japanese yen (JPY), the British pound sterling (GBP) [known as cable], the Swiss franc (CHF), the Canadian dollar (CAD), and the Australian dollar (AUD). All other currencies are referred to as minors.
online forex trading
I have been using USD index and Eur/Gbp (or Gbp/Chf) as my guide dogs since late 70?s with reasonable accuracy for medium-term trend. Never lost money on medium-term bet relying on those guide dogs in fact. But that cross does not work when Pound is deliberately devalued.
The Latest Learn Forex News
Forex - Weak Data Is Only Beginning to Hurt the US Dollar
Sat, 18 Nov 2006 16:29:00 GMT
FXCM - DAILYFX Fundamentals 11-17-06
By Kathy Lien, Chief Strategist of www.
Win Big Time In The Forex market With This Amazing Forex Strategy System II
How To Avoid Some Common Forex Scams
By Gregg Hall
There is an old saying that states, "A Fool and his Money are Easily Parted". With the proper strategy and resources from which to educate yourself, there is no reason to be foolish. With all of the opportunities to make money from home there are plenty of people who can't wait to get right in and get started. The problem is, there are also plenty of scam artists out there who are all too willing to rip you off if you give them half a chance. In the Forex industry, experienced traders don't fall for the scams, but people who are new to the industry are ripe targets. Therefore, you need to know what to look out for. There is an old saying that states, "A Fool and his Money are Easily Parted". With the proper strategy and resources from which to educate yourself, there is no reason to be foolish. With all of the opportunities to make money from home there are plenty of people who can't wait to get right in and get started. The problem is, there are also plenty of scam artists out there who are all too willing to rip you off if you give them half a chance. In the Forex industry, experienced traders don't fall for the scams, but people who are new to the industry are ripe targets. Therefore, you need to know what to look out for.
The government agency that regulates Forex trading, as well as other futures and commodities markets, cautions newcomers to watch out for the scammers that try to paint unrealistic pictures of huge profit potential in Forex and other trading markets. Recently they have also put out numerous fraud alerts for consumers specifically about scams involving the foreign currency exchange market. Here are a few of the tips from the CFTC to give you some insight on how to avoid scams.
First off, you always need to be wary of people who promise huge returns at low or no risk. If you see ads that say things like, "Make $2500 in minutes" that is a pretty good sign that they are not a reputable company. A reputable company will always temper the allure of large profits with warnings that you can also lose just as big or bigger. The Forex market is not a cash cow; there are risks just as there is with any investment opportunity. People who are unaware of the risks involved usually quit trading when they begin losing money.
You were equipped at birth with the ability to question and reason. Use it and be suspicious of everything until you verify that a company is reputable. Use the CFTC and investigate the company or broker you are thinking of doing business with by checking their fraud alert pages. Another good thing to do is see if the company is registered with the CFTC or if they belong to the National Futures Association. By using these resources you can easily find out if there have ever been disciplinary actions taken against the company you are investigating. You can also verify addresses and phone numbers. With the ease of access on the Internet, it has become increasingly easy to run fraud scams with false credentials and fake names.
Just think about how easy it is to have an online presence now. A Domain name is less than ten bucks and you can get web hosting for less than $10 a month. That is a pretty cheap investment for the opportunity to reach millions of people and part them and their money. Be sure to take the time to investigate and verify the people you are considering with the agencies I mentioned above before you give them any private information or credit card numbers. Forex trading can be a wonderful experience and business. Just make sure you work with a reputable company and do your homework.
Gregg Hall is an author living in Navarre Beach, Florida. Find more about this as well as online Forex trading at www.FXTradingStrategies.com
Additional Info On Forex Today
forex news
The primary factors influencing exchange rates include the balance of payments, the state of the economy, implications drawn from chart analysis as well as political and psychological factors.
easy forex
The highly liquid and volatile currency markets offer opportunities for speculators every day. Most speculators tend to focus on the so-called �majors,� which are the most actively traded currencies and include the U.S. dollar, the euro, the Japanese yen, the British pound, the Swiss franc, the Australian dollar and the Canadian dollar.
forex data
The beginner forex currency trading should take note of the major currencies are the U.S. dollar (USD), the Euro dollar (EUR), the Japanese yen (JPY), the British pound sterling (GBP) [known as cable], the Swiss franc (CHF), the Canadian dollar (CAD), and the Australian dollar (AUD). All other currencies are referred to as minors.
online forex trading
I have been using USD index and Eur/Gbp (or Gbp/Chf) as my guide dogs since late 70?s with reasonable accuracy for medium-term trend. Never lost money on medium-term bet relying on those guide dogs in fact. But that cross does not work when Pound is deliberately devalued.
The Latest Learn Forex News
Forex - Weak Data Is Only Beginning to Hurt the US Dollar
Sat, 18 Nov 2006 16:29:00 GMT
FXCM - DAILYFX Fundamentals 11-17-06
By Kathy Lien, Chief Strategist of www.
posted by the forex guru at 11:22 PM
0 comments
