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How to recognize a Forex Scammer ?

ProfitingSystems
PROFITINGSYSTEMS
Jun 11 2020 at 07:58
posts 48
FuYating posted:
I have seen fully verified accounts with unrealistic gains are they legit or are they somehow faking it

If you see accounts with None Verifiable/Regulated Brokers, Then it's fake.

Dorigda
Jun 16 2020 at 04:07
posts 83
There is no specification of liquidity providers.

SofieAndreasen
Aug 25 2020 at 22:49
posts 571
Trader with regulated broker. Always check regulator website. Regulator regularly update scam broker list.

Duktilar
Aug 29 2020 at 10:40
posts 107
You need to look at the terms that are being offered and how effective they are.

LyudmilLukanov
Sep 26 2020 at 12:10
posts 547
Most of the time unregulated brokers are scammer. Customer review is also helpful to identify scammer.

zanzuk
Sep 26 2020 at 14:53
posts 47
I think most of myfxbooks user are scammers.
one side are loser with no money(so little money) but want to be rich quick.
the other side are scammer,who offer get rich quick scheme.
i advise never ever look for investor here or look for traders here.

Gougon D (gdssxau66)
Sep 27 2020 at 04:21
posts 6
zanzuk posted:
I think most of myfxbooks user are scammers.
one side are loser with no money(so little money) but want to be rich quick.
the other side are scammer,who offer get rich quick scheme.
i advise never ever look for investor here or look for traders here.


Completely disagreed.
Scammers are everywhere but theres also good people who really want to help and make money.
I know few traders who just launch their system, after months working on it. They dont ask money from nobody, they dont charge any fees, they simply have a MAM account where people register on the broker and have total control of their money. The risk is super low because the guys dont risk as soon their money is also there.
So scammers are everywhere but not generalize.
Theres still few good people in this world. But for sure, even with this pandemic, the scammers are hunting.
 

Michihito
Sep 27 2020 at 05:46
posts 298
If anyone promising you unrealistic profit percentage, he is a scammer. If anyone is really able to make 200%/300% in short time he will not need funds from Internet. Even If anyone is able to make 10% per month consistently, he would be millionaire in few years with few thousand bucks.

UweMoench
Sep 27 2020 at 07:20
posts 547
A scammer promise you 50% to 100%+ daily return if they are managing account. Stay away from them. If they are that much capable of making money they only need 100$ to be millionaire. Just use your logic to recognize them.

Elena Triston (ele020)
Sep 28 2020 at 10:27
posts 219
Professional4X posted:
They often show unrealistic gains with very little Draw Down.

For example:



Here's the link to the discussion on the above example.

https://www.myfxbook.com/community/trading-systems/arbitragefastscalper/1479797,1


Another example would be as follows:



And also...



And here is the link to the discussion on the above example.

https://www.myfxbook.com/community/trading-systems/goodmoney/1579642,4


Quite often a scammer will try to pass off a DEMO account as a LIVE account, but they will not be able to validate the account.
When pressed for the reason as to why they are unable to verify the account, they will typically use an excuse such as 'Oh I contacted myfxbook because there is a problem with their website....'





Thank you for such a detailed report. It helped me alot. Lately I as trading with a unregulated broker just to test the high leverages, everything was going smooth but gradually my trades started being manipulated, it was then when I realise that the broker I am trading with is using plugins. After that i never tried any unregulated broker.

The more your practice, the more you learn.
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