The forex market is a niche that involves money, so you, as a trader, should be able to discern if what you’re looking at is one of those scams or not. This is a niche wherein deceitful people have a lot of opportunity to make money by using fraud as they launch a forex scam. This article will give you the hints in identifying a real scam.
Those unrealistic claims…
It is in the nature of websites promoting forex products or services to appeal to your wishes as a trader to make lots and lots of profits and money. There’s no question with that, but once they promise you that you can earn millions in just one night… then that’s a scam that you need to look out for!
The screenshots with big profits on trading accounts…
Websites promoting forex products commonly provide images of their own trading account results in order to convince the people of the ability of their system to make money. People who make a scam will fake the screenshots with the help of Photoshop, which makes it impossible to tell whether it's a fake or not. And even if what you see is genuine, you should not pay any attention to it, because you will never know what kind of system that person used… and those systems might not work for you as well.
There are no guarantees…
A genuine forex product will always offer a money-back guarantee that's always easy to avail of. What you should be looking for is a no questions kind of guarantee instead of those that say that you have to follow a set of instructions before you qualify for one. For downloadable EA's and e-books, trust those that are sold by Clickbank for refunds, as they are the one who handles those kinds of transactions (within 58 days of the purchase). Choose those membership sites or services that you can cancel anytime without taking any charges, and you should never sign up for a scam that binds you to a 6-month or 12-month contract.
Those that have bad press in the forums…
Forex products will show you the testimonials and recommendations that the satisfied customers has given them. To be sure that those claims are real, you can always ask for proof: keep in mind that a good and honest business always finds a way for you to contact those people who made such testimonials and recommendations. Also, you can look at the statements of unsatisfied customers (this is always present for any kind of product, no matter how good or bad it is). Going through the customers' opinions (available on the online forums) will be able to help you judge the credibility of the product, whether it is a forex scam or not.
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