Whenever there is an opportunity to make large amounts of money, there will be people who are eager to jump right in and start making money. And where there are people who are eager to get rich quick with a minimum of effort on their part, there are fraudsters waiting to take their money. Experienced traders are wise enough to avoid the frauds – it’s the new traders who are most vulnerable to the forex scams that are slipping into the currency exchange market.
The U.S. CFTC (Commodity Futures Trading Commission), which regulates futures and commodities trading, warns new investors to be wary of frauds and scams that promise huge profits from your investments, in and out of the Forex market. The CFTC has issued several Consumer Fraud Alerts in connection with foreign currency trading. They offer the following tips to help you avoid being scammed.
Be skeptical of high-profit-low-risk come-ons.
“I made $1900 in one minute!” touts one sidebar ad for a Forex trading company. Ads that promise high returns on small investments with little or no risk to you are tempting bait. The fact is that while there are certainly big profits to be made in forex, there are correspondingly large losses. And most novice traders drop out of active trading by the end of their first year because they can’t afford the risk.
Be suspicious. Period.
Before you part with a penny, thoroughly check out the company or trader you’re planning to do business with. Check the CFTC’s consumer fraud alert page. Check to see if the company is registered with the CFTC, or is a member of the National Futures Association. Check to see if there’s any disciplinary action against the firm or company. Get even more basic. Get a valid address and telephone number, and verify that it belongs to the company. Check to be sure the person you’re dealing with actually works for the company. Especially if you’re doing business on the Internet, it’s very easy for a scammer to fake credentials.
Be wary of sending money over the Internet.
The Internet has made it incredibly easy for scammers to operate. It only costs $6.95 a month to have a professional looking web site hosted – that’s pennies a day to reach millions of potential marks. Before you part with credit card numbers, bank account transfer permissions or wire transfers, be sure to check out the company with all the authorities listed above.
Beware high pressure sales tactics.
Legitimate dealers don’t need to contact you with unsolicited email, or pressure you into doing business with them. If someone is pushing you to invest right now, tonight, this moment, it should set off huge warning signals in your head. A real dealer is more concerned with keeping you as a customer for the long haul. He’ll be patient while you check out his credentials and reputation. A phony dealer can’t afford that luxury – he needs to get you on the hook right now, or risk losing his score.
Be cautious of companies that tell you they’ll trade for you on the ‘interbank’ market.
The interbank market is a term for a loose network of currency traders that include banks, financial institutions and large corporations. Fraudulent currency trading firms often tell customers that they’ll trade for them on the interbank market where the prices are better. It should be a warning signal to you to stay away.
While technically not ‘scams’, you should also be wary of paying good money for training courses that promise you systems that are ‘guaranteed’ to earn you high profits. If the course advertises that their system will earn you huge profits with minimal risk, or guarantee you 40% return on your money in six weeks, take the promises with a huge grain of salt. Experienced traders understand that the forex market is a time market – while it’s possible to make large amounts of money in short-term trades, finding those profitable trades is a matter of being in the right place at the right time… which means putting in the time and the effort to be there.
They also understand that they’ll lose more often than they win – the trick is to keep your losses short and your profits long. Any company that guarantees that you’ll make a profit on all or most of your profits is coloring their advertising. Stick with trusted companies whose credentials you can verify and whose background you can check.
10 Minute Forex Wealth Builder
Forex Trading Robot - Forex Maestro
Showing posts with label opportunity. Show all posts
Showing posts with label opportunity. Show all posts
Monday
Invergy Forex – Is Invergy Forex for Real?
After seeing so much out on the Internet about Invergy Forex, I took the opportunity to check it out to see what all the noise was about.
Here's what I found. They have a neat site at Invergy.com but you won’t find much information there. It appears to be a combination of Forex trading and Multilevel Marketing. When someone signs up with Invergy Forex, they pay a one time membership fee to become a member. The Invergy site says they are then eligible for part of the profits Invergy makes with their “secret” trading system. They say that additional profits can be made by investing “real money” and also by referring others to Invergy Forex.
So is it for real? Well, put it this way, I didn’t sign up for it! While having someone else do your trading with 15% to 35% per month returns (so Invergy claims), does sound tempting, it just seems too good to be true. Here are some other things that throw up red flags:
1) I have not seen any positive reviews on Invergy Forex or anything from anyone claiming to have made money with them.
2) I have seen a number of negative reviews claiming Invergy Forex is a scam. Many of these look like they came from the same person.
3) Invergy is set up offshore. There is a reason for that.
4) The membership fee is not on their Main page, FAQ page or Terms page. So who knows how much it cost?
5) Who are the Masterminds behind Invergy Forex and this “secret system”? Have they ever made any money trading Forex?
While I can’t say for sure if Invergy Forex is for real or not, because I have not tried it, I would caution you to stay away from it at least until it has proven to be a legit Forex opportunity. I’m not touching this one!
If you're looking for a proven system from a Forex Expert, that only takes 10 minutes a day, check out 10MinuteWealthBuilder.com.
Here's what I found. They have a neat site at Invergy.com but you won’t find much information there. It appears to be a combination of Forex trading and Multilevel Marketing. When someone signs up with Invergy Forex, they pay a one time membership fee to become a member. The Invergy site says they are then eligible for part of the profits Invergy makes with their “secret” trading system. They say that additional profits can be made by investing “real money” and also by referring others to Invergy Forex.
So is it for real? Well, put it this way, I didn’t sign up for it! While having someone else do your trading with 15% to 35% per month returns (so Invergy claims), does sound tempting, it just seems too good to be true. Here are some other things that throw up red flags:
1) I have not seen any positive reviews on Invergy Forex or anything from anyone claiming to have made money with them.
2) I have seen a number of negative reviews claiming Invergy Forex is a scam. Many of these look like they came from the same person.
3) Invergy is set up offshore. There is a reason for that.
4) The membership fee is not on their Main page, FAQ page or Terms page. So who knows how much it cost?
5) Who are the Masterminds behind Invergy Forex and this “secret system”? Have they ever made any money trading Forex?
While I can’t say for sure if Invergy Forex is for real or not, because I have not tried it, I would caution you to stay away from it at least until it has proven to be a legit Forex opportunity. I’m not touching this one!
If you're looking for a proven system from a Forex Expert, that only takes 10 minutes a day, check out 10MinuteWealthBuilder.com.
Wednesday
Great Forex Opportunity
There is a tremendous Forex opportunity right now with the current stock market situation. If you’ve already lost money on the stock exchange or just looking for another place to invest right now, Forex trading may be the opportunity you’re looking for.
The Forex market is also known as the foreign exchange market, and the FX market. The exchange that takes place between two nations with different currencies is the foundation for the Forex market and the basis of the trading in this market. Forex trading is now over thirty years old. It was established in the early 70's. The Forex market is one that is not based on any type of business or investing in any type of business, but the trading and selling of currencies from different nations.
One difference between the stock market and Forex trading is the huge amount of trading that takes place on the Forex market. There is an incredible amount of trading every day on the Forex market; almost two trillion dollars are traded daily. This amount is far greater than the money traded on the daily stock market of any country. The Forex market involves currencies, financial institutions, governments, banks, and similar types of institutions.
The trades or what is bought and sold on the Forex market gives the investor an opportunity to easily liquidate or take out cash, because it actually is cash being traded. In this type of trading the availability of cash in the Forex market is something that can happen very quickly for any investor from any country.
Another difference between the stock exchange and the Forex exchange is that the forex market is international and worldwide. The stock exchange is something that takes place only within a country. The stock market is based on businesses and goods and services that are within a country, while the Forex opportunity takes that to the next level to include many countries.
The stock market in any given country is going to be based on only that countries currency. As an example, the United States’ stock markets are based on the US dollar and the stock market in Japan is based on the Japanese yen. On the other hand, when trading in the Forex market, you have the opportunity to invest in many different currencies, and many countries.
The stock exchanges close on weekends and holidays and have set hours of operation. The Forex exchange is one that is normally open 24 hours a day because of the vast number of countries that are involved in Forex trading. Buying and selling occurs all over the world in so many different times zones. As one market is closing, another market is opening. This is the perpetual method of how the forex market trading occurs.
As you can see there are some advantages to trading Forex. Now is the time to take advantage of the Forex opportunity while the stock market settles down.
Want to find out how to trade in just 10 minutes a day?
Grab your Forex opportunity at: http://10minutewealthbuilder.com/
The Forex market is also known as the foreign exchange market, and the FX market. The exchange that takes place between two nations with different currencies is the foundation for the Forex market and the basis of the trading in this market. Forex trading is now over thirty years old. It was established in the early 70's. The Forex market is one that is not based on any type of business or investing in any type of business, but the trading and selling of currencies from different nations.
One difference between the stock market and Forex trading is the huge amount of trading that takes place on the Forex market. There is an incredible amount of trading every day on the Forex market; almost two trillion dollars are traded daily. This amount is far greater than the money traded on the daily stock market of any country. The Forex market involves currencies, financial institutions, governments, banks, and similar types of institutions.
The trades or what is bought and sold on the Forex market gives the investor an opportunity to easily liquidate or take out cash, because it actually is cash being traded. In this type of trading the availability of cash in the Forex market is something that can happen very quickly for any investor from any country.
Another difference between the stock exchange and the Forex exchange is that the forex market is international and worldwide. The stock exchange is something that takes place only within a country. The stock market is based on businesses and goods and services that are within a country, while the Forex opportunity takes that to the next level to include many countries.
The stock market in any given country is going to be based on only that countries currency. As an example, the United States’ stock markets are based on the US dollar and the stock market in Japan is based on the Japanese yen. On the other hand, when trading in the Forex market, you have the opportunity to invest in many different currencies, and many countries.
The stock exchanges close on weekends and holidays and have set hours of operation. The Forex exchange is one that is normally open 24 hours a day because of the vast number of countries that are involved in Forex trading. Buying and selling occurs all over the world in so many different times zones. As one market is closing, another market is opening. This is the perpetual method of how the forex market trading occurs.
As you can see there are some advantages to trading Forex. Now is the time to take advantage of the Forex opportunity while the stock market settles down.
Want to find out how to trade in just 10 minutes a day?
Grab your Forex opportunity at: http://10minutewealthbuilder.com/
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