How does the Forex newbie avoid Forex scams and find real Forex
products?
1. First off, remember the saying "If it
sounds too good to be true, it probably is." There is NO such thing as
guaranteed returns in Forex let alone a guaranteed 200% per month. Forex can be
VERY profitable but it is NOT easy and there is rarely weekly consistency. If
you see a Forex company including automated Forex systems making such claims -
beware.
2. Two. Research the company presenting the
opportunity. In the case we discussed a moment ago, it only takes a quick look
at the company's website registration to find out there are inconsistencies in
the story. The website was registered in July of this year but the company
claims to have started in June. Also, they provide false business contact
information in their site registration.
3. Never give up control of your money. In
Forex, you NEVER should have to send your money to someone other than a fully
regulated Forex broker. If you decide to have someone manage your funds for
you, you still maintain control of your funds and your Forex account.
4. Speak to the people behind the Forex
opportunity. Many Forex opportunities are completely legitimate. If an
opportunity is legitimate the company will be more than willing to speak with
you directly. Never invest in any Forex product without having contact with the
individuals responsible for that product.
5. Does the company disclose the risks involved
with trading Forex? Forex is a risky investment. If a company refuses to
acknowledge that, they are misleading you. It doesn't matter whether you are
considering a Forex managed account, an automated Forex trading system, Forex
education, Forex trade signals, or any other Forex product. If they are
offering you something to do with Forex, they MUST disclose the risks of
trading Forex to you.
6. Don't let emotion get the best of you. There
is something exciting about the possibility of making 200% per month
guaranteed. This excitement often blinds people from reality. They want to
believe SO bad that something is real that they overlook the obvious.
Forex is a legitimate investment opportunity. Thousands of Forex
traders make a significant living trading the Forex market everyday. However,
don't let yourself get sucked into the Forex scams that seem to be too good to
be true. Because they are. Use common sense and the tips I've provided above to
avoid being the next victim of a Forex scam.
Echo FX prides itself on being an experienced, honest,
disciplined, and emotion-free Forex Account Manager and quality Forex Trading
Education provider. For more information about the company, their Managed Forex
Account Programs, or Forex Trading preparation solutions - visit http://www.echocurrency.com
(Forex Managed Account) and http://www.AcademyofForex.com (Forex
Education)
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