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In order to conduct trade or do business with foreign entities, currencies must be exchanged. That is how the “Forex” currency exchange market exists. The Forex market is the largest, most liquid financial market in the world. This is one of the reasons why some people might want to exploit the market and take advantage of others. No central market entity exists and regulators from different countries all have different laws and rules. Currencies are exchanged electronically with up to $4.9 trillion U.S. dollars being traded per day. Forex scammers abound, and prey on people who usually are looking to make some quick and easy profits.Rimantas Petrauskas was scammed online several times and he found out that many of his clients had this problem too. That is what made him decide to share his knowledge and experience with the world so that other people would be able to avoid fraudulent offers online and even offline.
A lot of people do not know how do they do it. In many cases, fake MT4 statements are created and uploaded to the company website. The statements reflect fabricated net results. To find out if it is a scam or not, there are a few questions to ask. Start with finding out if they have live trading results verified by reputable third party services. If the provider is "legit", they will send the information. Red flags ought to go up if they tell they don’t have time to send verified trading record. Better yet, live statistics will be posted to the site. A verified trading record at MyFXBook will show the trader’s history and activity, but even these records can be faked with the help of a fraudulent broker. Before considering a new trading system, forex robot, or trading education program, people should find out the track record from more than one source and read all the review they can.
Scammers often create investor passwords and can even profess to have business alliances with reputable and disreputable brokers alike. If Forex resource does not provide an MT4 server name, check it out further. If they don’t have Myfxbook records, then it might be a scam.
For additional research and for the full findings in Petrauskas' report, including how to avoid the scams that are so prevalent in the Forex market, read his full blog post on this topic.
Contact Info:
Name: Rimantas Petrauskas
Email: Send Email
Organization: EA-Coder.com
Address: Vilniaus 53, Ziezmariai, Lithuania
Website: http://www.ea-coder.com
Release ID: 70822
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