Forex is not a get rick quick opportunity. Contrary to what you‘ve read on many websites across the web, Forex trading is not going to take your $10,000 account and turn it into $1 million. The amount we can earn is determined more by the amount of money we are risking rather than how good our strategy is….AUTHORITIES are getting very concern over the way FOREX is being seen. Many are fooled into 10 – 15% or more returns and only to see their money disappeared in teh thin air!!


Forex trading may make you rich if you are a hedge fund with deep pockets or an unusually skilled currency trader.  While this could be interpreted to mean that about one in three traders does not lose money trading currencies, that’s not the same as getting rich trading forex.                                                              


It is an investment opportunity to increase your wealth. So it is worth to learn how to trade Forex and make money with it. However, there are some conditions that you have to met to become a profitable Forex trader.  The short answer to this group is, if others can make money from forex trading, you can do it too.


In terms of trading volume, forex markets are the largest in the world. Due to high trading volume, forex assets are classified as highly liquid assets.  However as a leveraged product there is plenty of risk associated with forex trades that can result in substantial losses. New traders are fooled by high returns and lost all their money. Forex is a margin trading and it involves leveraging the amount your trade and that alone is already a high risk. STAY AWAY FROM FOREX IF YOU ARE NOT EDUCATED (AT LEAST 6 – 12MONTHS OF TRAINING IS REQUIRED).


It various countries to countries – Legal US Forex Market. The US Forex market is one of the most highly regulated markets in the world. The two organizations in charge of regulating the US Forexmarket are the US Commodity Futures Trading Commission (CFTC) and the US National Futures Association (NFA).


We always ask the same question again and again – show me a person that makes 2% consistently for 2 years then I will believe them. If they are teaching forex and telling you that you can make money – why don’t you ask them a question.

  • I will deposit $1000USD – I will attend your course and they can minus the course fees from the profit that you make for the course – after all they assure you that they are profitable – so what is the problem?
  • If I lose any money – they must be responsible to pay back the losses.
  • If they can do the two above then try them out….of course they won’t – there are so many crooks out there who doesn’t have moral obligation in what they are doing and we are against such marketing gimmicks.


  • Start with Financial literacy.
  • Understand how the banking system works.
  • Understand how manage your money in simple way – like savings in the bank, fixed deposits, bonds, stocks & shares and etc.
  • Learn the skill of budgeting.
  • Understand economic Cycle and how do they affect the market.
  • Read widely.
  • Stay away from get rick quick.
  • Understand Value Investing.


Very few of the scams on the Internet are new. Most of the swindling techniques we see today originated long ago as telemarketing, direct mail, or even door-to-door selling schemes. But the Internet adds another troubling dimension to these old tricks. For example, a fancy Web site can create the illusion of a large and reputable company, especially if it provides links to legitimate sites.

Here are some of the largest and most successful investment scams:

  • Ponzi Scheme – A type of pyramid scheme, this is where money from new investors is used to provide a return to previous investors. The scheme collapses when money owed to previous investors is greater than the money that can be raised from new ones. Ponzi schemes always collapse eventually.
  • Pump and Dump – A highly illegal practice where a small group of informed people buy a stock before they recommend it to thousands of investors. The result is a quick spike in stock price followed by an equally fast downfall. The perpetrators who bought the stock early sell off when the price peaks at a huge profit. Most pump and dump schemes recommend companies that are over-the-counter bulletin board (OTCBB) and have a small float. Small companies are more volatile and it’s easier to manipulate a stock when there’s little or no information available about the company. There is also a variation of this scam called the “short and distort.” Instead of spreading positive news, fraudsters use a smear campaign and attempt to drive the stock price down. Profit is then made by short selling.
  • Off Shore Investing – These are becoming one of the more popular scams to trap U.S. and Canadian investors. Conflicting time zones, differing currencies, and the high costs of international telephone calls made it difficult for fraudsters to prey on North American residents. The Internet has eroded these barriers. Be all the more cautious when considering an investment opportunity originating in another country. It’s extremely difficult for your local law enforcement agencies to investigate and prosecute foreign criminals.
  • Prime Bank – This term usually describes the top 50 banks (or thereabouts) in the world. Prime banks trade high quality and low risk instruments such as world paper, International Monetary Fund bonds, and Federal Reserve notes. You should be very wary when you hear this term–it is often used by fraudsters looking to lend legitimacy to their cause. Prime bank programs often claim investors’ funds will be used to purchase and trade “prime bank” financial instruments for huge gains. Unfortunately these “prime bank” instruments often never exist and people lose all of their money. (investopedia)


“Robot” Scamming in Today’s Market

A persistent scam, old and new, presents itself in some types of forex-developed trading systems. These scammers tout their system’s ability to generate automatic trades that, even while you sleep, earn vast wealth. Today, the new terminology is “robot,” because of the ability to work automatically. Either way, many of these systems have not been submitted for formal review and tested by an independent source.

Examination factors must include the testing of a trading system’s parameters and optimization codes. If the parameters and optimization codes are invalid, the system will generate random buy and sell signals. This will cause unsuspecting traders to do nothing more than gamble. Although tested systems exist on the market, potential forex traders should research any system they’re thinking of incorporating into their trading strategy.

Other Factors to Consider

Traditionally, many trading systems have been quite costly. Just a few short years ago, $5,000 was not much to pay for a system. This can be viewed as a scam in itself. No trader should pay more than a few hundred dollars for a proper system today. Be especially careful of system sellers who offer programs at exorbitant prices justified by a guarantee of phenomenal results. Look for one of the many legitimate sellers who is decent and whose systems have been properly tested to potentially earn substantial income.


Forex or any other trading requires good education and good education cannot be ignored. For a start get yourself into good readings at www.babypips.com or www.investopedia.com.

Regulators are not wrong to tell you to stay away from FOREX!! They are absolutely right!! They are just trying to protect your interest!!

At FINWAZE we educate, enrich and empower you to make your own decision and our course fees are just a minimal to cover our overheads and nothing more – start with FINANCIAL LITERACY!!

Article by: Ashok


  1. ErnestBek 3 months ago

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