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I was greatly relieved to have had this professional service provide me with the support I desperately needed after a terrible experience losing my money to a deceptive company! I was kept well informed and the guidance…

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    What is forex trading?

    The forex market (FX) is the world’s largest trading market, dwarfing the stock exchange in size with nearly US$5 Trillion traded daily. The market is open 24 hours a day, when trading closes in New York it starts again in Tokyo and Hong Kong. Currencies are always traded in pairs, for example, the US$ with the UK£ or the US$ with the EURO. With constant price fluctuations, this tumultuous market can make Institutions, companies and some individuals a lot of money.

    Forex fraud is a growing problem. It can be found everywhere from boiler room scam artists, to some guy you met at the coffee shop the other day, even past trusted brokers and executives have been involved in forex scams. The most common victims are the ones who think it will never happen to them.

    People under 25 are falling in droves for the lavish payouts promised by rudimentary Instagram scams. Until recently, older people (those over 50 and in retirement) were considered to be most vulnerable to various scams perpetrated online. It makes perfect sense: a generation not particularly well-versed in the ways of this new online world would indeed be expected to fare poorly when faced with its challenges.

    So with the above context in mind, we are here to help you recover your lost funds from the banks and credit card providers with our extensive knowledge in fraud detection and years of experience in dealing with these matters. We have a high success rate and many satisfied customers. Below we list several common Forex scams that have gained traction over the last decade as the internet has reached a larger population.

    High yield investment programs

    High Yield Investment Programs (HYIP) are (a lot of the time) a form of Ponzi scheme in which a high level of return is promised for a small initial investment into a forex fund. However, in reality, the initial investors are only being paid back by the money generated by the current investors and once there are no more investors in the scheme the owners usually close it down and take all money remaining.

    Ponzi or pyramid schemes

    This is a very common form of affinity fraud. They promise high returns from a small initial investment upfront. The early investors usually do gain some sort of return on their money and motivated by this success they then recruit their friends and family into the scheme. However, the truth is that the ‘investment opportunity’ does not actually exist and their initial return is being funded by money paid in by other members of the scheme. When the investor numbers start to drop the scammers close the scheme and take the money. We have covered this type of scam in-depth under the Ponzi & Pyramid scams section.

    “Robot” Scamming in Today’s Market

    A persistent scam, old and new, presents itself in some types of forex-developed trading systems. These scammers tout their system’s ability to generate automatic trades that, even while you sleep, earn vast wealth. Today, the new terminology is “robot,” because of the ability to work automatically. Either way, many of these systems have not been submitted for formal review and tested by an independent source.

    Signal-Seller Scam

    A popular modern-day scam is the signal seller. Signal sellers are retail firms, pooled asset managers, managed account companies or individual traders that offer a system – for a daily, weekly or monthly fee – that claims to identify favorable times to buy or sell a currency pair, based on professional recommendations that will make anyone wealthy. They tout their long experience and trading abilities, plus testimonials from people who vouch for how great a trader and friend the person is, and the vast wealth that this person has earned for them.

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