subject: Forex Trading Information And Scams: What You Should Know [print this page] If you are thinking of investing your money in the Forex market you should know about Forex trading information and scams. There is a lot of information on the internet which is misleading. There have been a number of scams investigated and there are many accusations of different kinds by individual traders.
The Commodity Futures Trading Commission, CFTC found that on average individual traders lose fifteen thousand dollars on the market. The market does not create wealth it moves it around so if one person is gaining another person or company is losing.
The CFTC has investigated many fraud claims by companies who claimed to be brokers and took money from investors but never used it to trade in the markets. They are prosecuting many of these fraudsters but warn there are still many out there who prey on people who are desperate.
Most individual traders use some sort of software to help them decide trades called trading robots. There have been cases of fake robots being sold. There is also increasing chatter in online forums about whether brokers are tracking robots in order to steal deals from individual traders.
There are reports of many more Forex scams than these and it is hard to get to the truth. The CFTC is the regulatory organization for Forex trading so their website is a good place to start. However you should always be careful to check and cross check trading information as there is a lot of bad reporting out there.
Forex trading information and scams are a big problem for individual traders who are vulnerable in a market which has big players with lots of money. The old adage, if something looks too good to be true it probably is, serves as a warning to us all to be cautious with our money.
