Watch out for the Scammers in the Forex Industry

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  • Thu, Nov 28, 2013 - 09:54am



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    Watch out for the Scammers in the Forex Industry

Dear Trader,


The Forex industry has grown enormously, unfortunately, it has literally been taking over by scam artist who's only goal is to deceive enough traders into buying something from them that they can make a living on it.


It's alarming, how more and more of these pathetic liars and scam artists are popping up with ridiculous products and methodologies that will NEVER work. Yet, they convince enough people to buy their lousy product so they can live another day.


Since the Forex is an industry that is about making money, it has attracted so many of these scammers and it's amazing how many people fall for their crap. Though I guess if you don't know any better or don't have years of experience in the markets, it's easy to believe that they might have really found a holy grail or black box system that works, so I can't blame folks for buying into it.


But take it from me… They have not.


All they want is to pry 97 or 47 dollars from you and leave you with something that will only lose you more money.


I am not saying every Forex company that has a product must be a liar and a scammer. Having years of Forex Trading in the industry, I know of a handful of really good companies who provide services that actually help traders.


However, the overwhelming majority of Forex companies out there were just created to market something. They have no idea how to trade Forex and they probably don't even know what they are selling… All they know is that if they can sell enough of their product, they can make good money without trading—and that's just wrong.



Please be careful about these rip-off scammers. If they have a one-page site that only sells a product or are promising 100% returns per month, or selling you the holy grail for 47 dollars, do not buy into that. Leave right away.


I am so sick of hearing about my subscribers being ripped off by these liars and scammers. I do not want to see any more traders losing money they can't afford on lies and false promises.


Remember, it’s your money on the line.


For me a healthy relationship with a brokers is imperative, and when it comes a personal relationship the better.


Customer services is on top of my list. You must have trust in your broker, because you don’t want to lose your hard-earned money. Watch out for fly-by-nights. Fortunately, I have done that for you, and only recommend Brokers that I have a personal and healthy relationship and whom I trust. They are not scammers.


Why do I give you options. It will help you to diversify and customized your Trading. Brokers offer a very wide variety of services and products,  and you must feel comfortable. Otherwise, you can’t trade with ease. If you comfortable with your current brokers, I am happy, but will also recommend looking at the Brokers I recommend just to expand your horizon.


Pierre A Pienaar


P.S. I recommend these Forex Companies:


1.    XM (Trading Point) 

2.    Windsor Brokers

3.    Forex Club International

4.    Easy Forex

Clarification: Yes, I get paid if you open an account.

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