Sunday, July 15, 2007
A forex scam is any trading scheme used to defraud individual traders by convincing them that they can anticipate to unreasonably high profit by trading in the foreign exchange market, which would be a zero-sum game were it not for the fact that there are brokerage commissions, which technically make forex a "negative-sum" game.
These scams might include churning of customer accounts for the purpose of generating commissions, selling software that is supposed to guide the customer to huge profits, improperly managed "managed accounts", false advertising, Ponzi schemes and outright fraud. It also refers to any vend forex broker who indicates that trading foreign exchange is a low risk, high profit investment.
These scams might include churning of customer accounts for the purpose of generating commissions, selling software that is supposed to guide the customer to huge profits, improperly managed "managed accounts", false advertising, Ponzi schemes and outright fraud. It also refers to any vend forex broker who indicates that trading foreign exchange is a low risk, high profit investment.
posted by stifxonline
@ 9:47 PM
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