Forex exchange scam

Forex scam, also known as a foreign exchange scam, is a trading scheme where scammers

convince people that they can gain profit easily in the foreign exchange market. It is a simple

trading system where a person gains high profit or loses everything. The foreign exchange

market is a global market for exchanging currencies. Trading takes advantage of this in

currency exchange rates. Most work of forex markets is done by MNC natural positions.

Investing in currencies, whether traditional currencies is different than investing in stocks or

real estate.

Scam broker

When you start to trade forex, the first thing is choosing a broker who can work more

efficiently and wisely. Make a list of some brokers and according to their ratings, choose one

of them. In starting do not invest a large amount of money because it is a risk barrier with a

broker. You can get the list of Scam Brokers 2022 in Good Review sites like All Scam Reports

Some points to identify a fraud broker:

 If you do not get any response from your broker, that can indicate a scam.

 Try to invest a small amount of money and wait some time. If all will okay then start

investing in the large amount.

 If some security problem occurred in trading then immediately talk with the broker.

 Before investing, you can research the broker about any complaints and frauds.

Types of Forex Scam

 Forex mutual fund Scams.

 Trading robots scam.

 Trading signals forex Scams.

 Guaranteed returns Scams.

 Price manipulation.

 Unusually High Leverage.

 Unsegregated Client bank Accounts.

How can a scammer convince people?

They believe that you can make a profit easily through news, advertisement, emails, social

media, community, etc. They can ask for your mobile number, personal details, adhaar

number, or any personal documents. They can assure you that you make money easily

without any loss.

Communication is most important in trading between a broker and a trader. If a broker does

not attend your call or reply to your emails then be aware, this is a sign that you can cheat by

the broker. Make sure that there is no complaint or fraud case about the broker which you


Make a complaint by filing in Scam Help Website.

Good Fund Recovery Websites  can help you in Fund Recovery.