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. In this article, you'll be given hints as to what identifies 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!
Those screenshots that show big earnings on trading accounts…
Websites that promote forex products commonly provides images of their own trading account results 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 authentic, make sure not to pay any attention to it, because you will never know what kind of system the person used… and those systems might not work for you as well.
No guarantees offered…
A true forex product always offers a money-back guarantee that's easy to avail of. You should be looking for a no-questions kind of guarantee, instead of the ones that say you have to follow some instructions before you qualify for one. For downloadable products such as EA's (expert advisors) and e-books, choose 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.
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 also look at what the unsatisfied customer are saying, which is always present for any kind of product, no matter how good or bad it is. You see, going through these customers' opinions and comments (which is available in the online forums) will help you in judging the product's credibility, whether it is a forex scam or not.
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