Welcome to ForexScams.org
ForexScams.org is here to help. We want to give you the opportunity to inform others about possible Forex scams and educate yourself to avoid getting scammed. This is a completely free community where traders can share their experiences and warn others when appropriate.
We are publishing a regular scamletter that keeps you up to date without having to login to ForexScams all the time. You can subscribe here. If you invest serious money into your Forex Trading, this is a must. Nothing is a bigger waste than getting scammed, not only for your profits but only for your trading capital. Most potential trading careers are given up on because of scam. You’ll also get out free Anti-Scam Guide eBook when you subscribe. Trust me, you will learn a lot from this eBook. Some things will make you uncomfortable but it’s necessary to know the truth.
Likely Forex Scams 2019
When we’re talking about Forex scams we refer to brokers with shady business practices most of the time. These brokers are either restricting cashouts for dubious reasons (like wanting to see more and more documents, delaying payouts for no reasons, etc.) or manipulate the result of trades (ignoring stop losses or putting you at a disadvantage with chart manipulation, and so on). There are many ways on how to scam you. If you want to know more about it subscribe to our scamletter.
Anyways, these are the hottest brokers right now. Brokers, most people complain about and throw serious allegations on them:
Have a look at this overview here with all the forex brokers listed on ForexScams.org.
Binary Options Scams
Binary Options became very popular and are a big topic since 2012. They are even used by professional traders even though they are some sort of beginner trading tool. But you can do a lot of useful things with it so it’s worth taking a look.
The problem with binary is that the industry became extremely shady. They all see the big dollar signs and throw their morale overboard. What we see now is the follwing:
- Binary Options Brokers that are only in to make a quick buck. They get a cheap license, try to get new traders with bonus offers etc. and run away with most of the cash or find more sophisticated ways to cheat. They may hire account managers that tell you to trade this or that position. Most of the time it’s way too risky and sooner or later you’ll be broke when you obey.
- Make Money nonsense. Some self proclaimed “Gurus” or “Experts” try to lure you into a system that claims to be a simple money machine while it’s just nothing than a scam. They refer you as trader to brokers, get their commission for it and have exactly 0 interest in making you money. All they do is to look legit and fool you. Unfortnately, many, many people fall into this trap. The really bad thing is that this hurts the complete industry. So people think that binary options in general are a scam while the product itself is totally fine.
We have listed more than a dozen binary options brokers, so be sure to check out the reviews on ForexScams.org.
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