Thread: Making money with Forex SCAM!

Just in case, this whole "Making money with Forex" bit... Forex is the foreign exchange currency market. The market is obviously legitimate, but the problem is that usually when someone places a post on a forum like that one, it's a scam. Be careful! The Foreign Exchange Market truly exists, there are actual brokers, some people do their exchanges online, etc... but there are also scams involved. I just looked this up right now, and this is what I found.

Originally Posted by kinkPOP

Just in case, this whole "Making money with Forex" bit... Forex is the foreign exchange currency market. The market is obviously legitimate, but the problem is that usually when someone places a post on a forum like that one, it's a scam. Be careful! The Foreign Exchange Market truly exists, there are actual brokers, some people do their exchanges online, etc... but there are also scams involved. I just looked this up right now, and this is what I found.

HELLO FRIEND FOREIGN EXCHANGE IS NOT SCAM IT IS PERFORMED REALLY.
BUT FOR THAT WE HAVE TO BE MASTERED IN THAT THEN ONLY WE CAN BE IN PROFITS......
MY FRIEND IS DOING THAT (WAS A COMMERCE STUDENT) HE STICKS TO THE MONITOR 24 HOURS AND HE EARNS ABOUT 60,000Rs HE LEARN THIS THROUGH HIS COLLEGE COMMERCE PROFESSOR.

HE IS NOW EARNING MORE THAN HIS PROFESSOR :stuart:

You cannot legally deal with Foreign Exchange in India. It is not part of the commodities as yet. You need a license to deal with Forex.

I don't know the exact limitations of dealing with Forex in India, and I have never dealt with them myself. I do know that Forex is very legitimate, but there have also been SCAMs of people who say they can distribute your trades, or whatnot. I know Forex can be used, and can provide lots of profit, but like everything else, there is always someone who decides to create a scam out of it, and then pose for being the actual thing. That is what I meant. Thank you, though. It's good to see that someone has truly used this and it is legitimate exchange. Thanks a bunch!

Is it really a scam? I haven't tried it so I can't really say. But thanks for the info. There are really a lot of online scams right now so we must really be careful.

Hi... Well, Forex actually exists, and it's one of the biggest most popular markets known Internationally. The thing is, like almost everything else, whether Google Adsense, Adwords, anything at all... someone comes up with a get rich/steal money from other people idea, and then people sign up, pay, give access to their info. etc, and that's it... the investment is gone, and now there is info circling around that's taking your money. It's just something to be aware of... that SCAMS do exist, and that before we go off and give personal info attached to money, banks, investments, etc... we need to make sure to look both ways, like crossing the street - SCAMs are rampant, and people are into make a quick buck a lot of the time - not caring who they hurt or what they affect.

I had learned the horrible truth that most of the FOREX companies online are scammers.Further this is totally a unstable market and high risks are involved in investing in them.

Hi there... I've never traded in Forex, or any other market, literally, but I can imagine the instability of something like Forex. Forex deals in an international basis, while other markets are considered domestic, meaning the same currency for this business is the currency of that one. It's like macroeconomics (Forex) vs microeconomics (Asian markets, NYSE, Nasdaq, etc.) I'm just putting 2 and 2 together now, & it seems like a much more hard-hitting ebb & flow - considering that these are full economies you are trading in, not only 1 or 2 or 3 businesses.

Originally Posted by manojjonam10

I had learned the horrible truth that most of the FOREX companies online are scammers.Further this is totally a unstable market and high risks are involved in investing in them.

Right. It wouldn't be worth the invesments if you know that things like these are scams.

I usually stay away from online companies like them.

real informative

Forex sites are the biggest scams on internet. Do not invest in that. You won't earn any money.