Beware of Trading Scams

by John Mcclane Professional SEO Expert

There are sadly now many scams online linked to binary options trading and foreign currency. The CFTC, Commodity Futures Trading Commission in the US oversees trading in North America and warns the public to take care of the Forex scam and more. In 2000 a new act gave them the authority to investigate, sue and end illegal selling including being able to shut them down.

Illegal Forex trades

More and more trading and investment opportunities are happening and they are also becoming increasingly complex. But this has also seen a rise in fraud with foreign money trade. While a lot of Forex trades are legal and many opportunities are genuine, there is more recognition in recent years that a lot are more of a Forex scam taking advantage especially of new and inexperienced investors and traders.

This rise in fraud has worsened as more people use the internet and fall into scams online, ads they click on, websites they visit, but there are also newspapers and TV ads that promise high return investment opportunities in binary and Forex options or employment opportunities that pay very highly. Essentially they tell you there are huge profits to be earned with very little risk.

Things to look out for

If a business approaches you asking for a deposit of money for foreign exchange be suspicious. Look for the following and take all precautions you can before you give anyone your money. Consider looking into scam recovery for support.

Avoid any business or individual that guarantees there will be large profits. There is never a complete definite in any investment.
If there are business opportunities being offered that seem too good to be true then they probably are not true.
Always be wary of sending a stranger any money or cash by mail or via the internet or any other way. Be especially wary when they see there is urgency and they need it fast.
If they promise there is no financial risk, they are lying, when you invest there is always some risk even if it is on the low end of the scale.
Ask about their history and if they won't talk about their experience and background back away.
Ask about their track record and look into their organization to see what others have to say about them.
If you do not what trading on the margin is, then do not do it.
Be aware that those of ethnic minorities are more likely to be targeted to be scammed.
If you get an email, phone call or letter from a business or foreign agent who you are not familiar with, be suspicious.
If they are not approved by the CFTC then do not buy into their promises it could be a Forex scam.

Conclusion

Report scams you come across to a trustworthy scam recovery site. The more we report the less they will be able to affect people.