Other signals, robots and advisor scams
It is human to be lazy and take everything with maximum comfort. Therefore it’s no surprise that there’s high demand for everything that seems to automate Forex trading. Be it signals, robots or human advisors. Signals tell you when to enter the market, robots do that for you automatically and advisors usually work with a fixed or performance based fee to make more out of your money.
However, this whole industry started to turn into a scam industry. It is just too easy to claim to have success using certain tools or trading yourself. You can convince others easily and make money with it. So it’s no real surprise that there are more scams than legit offers out there. We highly recommend not to use any system, software or advisor unless the success is bullet proof.
At this page we list all the potential scams that did not make it into our list here. Most of these come from traders visiting ForexScams.org and contacting us (see contact details on the right).
G7 Forex Signals
“Some days ago, i was approach by a forex trader on facebook as a fund manager and forex signal provider ( https://www.facebook.com/G7forexsignal/?fref=nf&pnref=story ), the so-called president Walid Mohamed. After much chats and few signals he sent to me (His SCAM tactics), i decided to give him a try. I registered under his HotForex G7 IB link https://www.hotforex.com/?refid=25102 (Since he shut down his website, he advertise via https://twitter.com/g7fxsolution ). I funded the account, paid him his management fee of $200 and gave him login details. First day he lost 20% of my capital and when i chatted with him, he said he will make it up in 2days so i paused. After the 2days, he finally lost the account. Worst of all, he blocked all our communications immediately he lost the account. When i use a friend to contact him via twitter, he also blocked her after few chats. Am not reporting this issue so i can get my money back but to alert everyone of this scam artist and avoid him and his groups. See some screenshots for Proofs. I will add more on your request.”