How to recognize a Forex Scammer ?

EddyEdgardo posted:
It seems like everything is a scam,. Are there any legit traders out there with good history?

Not everything, but yes, there are NUMEROUS scams in forex and other investment markets.

EddyEdgardo posted:
It seems like everything is a scam,. Are there any legit traders out there with good history?

We are trying and we succeed to do a serious job as signal provider with quality signal first and account management after too.

It's a serious job and you can't make promise to do 1'000 % by year, it's only that.

The basic problem is to able to reproduce your(s) performance(s) then to probe that your method is sustainable.

In any case you can't rely on performance on a single account but you have a classic 'bell curve' where a part of your(s) account(s) are losing and the other(s) winning(s). The goal is to place the average median gain with > 0 % first and after with a digit close to 10% to have an interest to do forex instead of real estate...Working on your drawdown for example, minimize your looses ect..

It's a professional work.

And here is yet another one.






All I did is ask the person to validate their account and they blocked me. This is typical of a scammer, because they don't want people questioning their accounts.




Link to page:
https://www.myfxbook.com/members/leo23/febonacci-forex-robot-v-252/2198962

Link to discussion:
https://www.myfxbook.com/community/trading-systems/febonacci-forex-robot-v-252/1503351,20

Link to user profile:
https://www.myfxbook.com/members/leo23


When discovering a scammer, it is important to always down vote them to 1 star, because often you will see they've managed to give their pages a 5 star rating by using multiple fake accounts.

I would like to add some more info here bout the scam Forex brokers that are around. I just felt into one few months ago and lost a lot of money.

The so called account manager start to promise so many things over the phone, and actually they show profits into your account. But it is all scam. By accident I opened another account and noticed that even they manipulated the price shown in the trading account, so my balance 'grows', and they ask for more money.

After that I started looking for information, and found one article called How to recognize the scam brokers. Everything written inside is true, and I hope that many people will read it first, before they lose money. He it is: https://eaforexacademy.com/forums/topic/how-to-recognize-the-scam-brokers/

So with certainty, there are many scammers in this business, but I think the biggest are the brokers.

This is great one. Thanks @Professional4X Very helpful for those who are about to be trapped due to fake profile. Great job.

@Professional4X
How can we recognize if the account validated?
By the way, he has blocked 55 people....such a confusing number

1, win rate over 60%
2, slight profit taker
3, no trailing stop or even no stop loss
4, '>70% we will make you rich'
5, showing upper lifestyle picture.

voketexpert posted:
1, win rate over 60%
2, slight profit taker
3, no trailing stop or even no stop loss
4, '>70% we will make you rich'
5, showing upper lifestyle picture.

Very smart answer! Agree with you. New members should aware of all of these points.

The most important giveaway of a Forex scammer is the guarantee of unusually large profits with little or no financial risk. First of all: there's no such thing as a 100% guarantee. If there was, there's no way traders would share it with other market players. Some of these offers may sound very attractive, especially to trading beginners. But as the saying goes, the only free cheese is in the mouse trap

Anyone showing picture of big house and fast car is sure to be a scammer. Real trader show charts and analysis but scammer show unrealistic profits and cars. It is easy to tell scammer because the website is all talk and no stats

thinkpad954 posted:
The most important giveaway of a Forex scammer is the guarantee of unusually large profits with little or no financial risk. First of all: there's no such thing as a 100% guarantee. If there was, there's no way traders would share it with other market players. Some of these offers may sound very attractive, especially to trading beginners. But as the saying goes, the only free cheese is in the mouse trap

That’s the main parameter; I mean who claims 100% success ratio; it’s truly impossible to make! Because, Forex is all about probabilities.

AniLorak posted:

thinkpad954 posted:
The most important giveaway of a Forex scammer is the guarantee of unusually large profits with little or no financial risk. First of all: there's no such thing as a 100% guarantee. If there was, there's no way traders would share it with other market players. Some of these offers may sound very attractive, especially to trading beginners. But as the saying goes, the only free cheese is in the mouse trap

That’s the main parameter; I mean who claims 100% success ratio; it’s truly impossible to make! Because, Forex is all about probabilities.

I think anything like 90% and more looking like unrealistic since, it’s a decimalized market;

Adribaasmet posted:

AniLorak posted:

thinkpad954 posted:
The most important giveaway of a Forex scammer is the guarantee of unusually large profits with little or no financial risk. First of all: there's no such thing as a 100% guarantee. If there was, there's no way traders would share it with other market players. Some of these offers may sound very attractive, especially to trading beginners. But as the saying goes, the only free cheese is in the mouse trap

That’s the main parameter; I mean who claims 100% success ratio; it’s truly impossible to make! Because, Forex is all about probabilities.

I think anything like 90% and more looking like unrealistic since, it’s a decimalized market;

I think so; 90% is not a normal case actually! Maybe pro traders can do so. But it’s not easy task.

Well; I know few good Forex traders who are trading with account 70-75% accuracy but they all have handsome yearly return.

Adribaasmet posted:
Well; I know few good Forex traders who are trading with account 70-75% accuracy but they all have handsome yearly return.

Basically, this relation is depending on the profit %; like which traders are trading with 1:3 profit ratio; I think they have no problem although they have near about 55% success ratio.

Why do you need to do that ? I mean by looking at other accounts ? Are you looking for some get rich quick scheme or something like that totally or what ? I do not get you at all really. I assume you wanted to buy some thing from another guru and looking for advice.

How to recognise ? Well first thing probably would be that you really can't withdraw your money when needed and they will keep asking for more, more and more in your case. How does that sounds to you ? I think it's very bad thing there anyway.

Anayallador posted:
How to recognise ? Well first thing probably would be that you really can't withdraw your money when needed and they will keep asking for more, more and more in your case. How does that sounds to you ? I think it's very bad thing there anyway.

This is why; we need to make dealing with regulated FX brokers and avoid all of the 3rd parties.

Which are the best regulated brokers..