you are spot on, this site is misused by scammers in big style. But I really don't understand why you're categorizing this site to serve ONLY PROMOTING PURPOSES (promotion of anything; EAs, services, etc). It's the poor believing people searching for effortless income who's responsible for the unhappy situation. Just look around the forum - you will spot numerous inquires from people actually looking for traders to manage money.. '..please, please, take my money and double 'em every month' or so. AFAIK, myfxbook never encouraged anybody to join someone's service or public offering. This site doesn't separate commercial/non-commercial interests (as ForexFactory for instance) and so this situation is a result of supply and demand. Maybe the site itself could increase its focus visibly in some anti-scam education. I personally suggested for some advanced charting options (time based equity charts w/floating P/L and leverage exposed) and was assured everything will come in time.
You'd have to EDUCATE the people not to become victims of scam. You'd have to EXPLAIN them that their GREED for effortless income is nonsensical. I'm sure that this can't be done. So what are you suggesting to do? Some kind of censorship? Some '..try to promote yourself without (at least one year tracked) real account and get banned?' rule? Yes, but will such (or similar) mesure stop the victims from falling into the trap again and again, since they seem to pull money out of their pockets just as they spot gazillion %gains everywhere??
I'm playing a funny game with a zero-deposit-welcome-bonus-cent account since a week. I have the stats for myself and a couple of friends outside the site. It has little in common with real trading. I don't have (and will never have) ANY SLIGHTEST commercial interests, if someone would contact me to manage his money, I'd shout at him 'run away man! are u crazy??'.
But should I delete the account because it's crap (yeah, I don't say it isn't lol) showing 300% gain after one week? Is it immoral? Am I wasting anyone's time with it? Shouldn't we prohibit contests? They are total crap. Shouldn't everybody who's ROI is above 2% a month be banned automatically??
I don't think so. But I welcome any constructive suggestions because the evident scammers make me sick, too ;-)
Edit: received a PM '..we want you as money manager' half an hour ago.. LoL :-D No, thanks :-D