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Obscure FOREX traders are promising get rich quick returns, how legitimate are they?

Forex Traders promise high monthly returns and “stop-loss” provisions which suggest that you would never lose all of your money. On the other hand they talk about leverage which suggest that they will always have more to invest than they actually have and therefore all losses will be recovered. I have never heard of high returns and no risk, but this is what the so-called Forex traders are advocating. Is this some kind of scam?

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21 Responses to “Obscure FOREX traders are promising get rich quick returns, how legitimate are they?”

  1. Shelomo said :

    I wouldn’t call it a scam, more like hype. In the currency arena, the money appears to be so close to earning and yet it is so far away. Never trust anybody who is trying to sell you a method, currency trading is very difficult. I interact with your exact question on the pages below (see ‘falsly claimed advantages’).

  2. ajb said :

    Focus more on fundamentals than technical analysis. Economic news analysis is what moves the markets.

    Here is a free site that shows what has happened after economic news releases:

  3. Fred G said :

    Do your homework. Useful guides are here:

  4. tiara.brigita said :

    It is not a scam. But than again it all depends, which Forex you’re dealing with. I’m investing in Finanzasforex, the link is Already coupple of months and I’m happy with 14% monthly. I also have some experience from before – it has a lot to do with software improvement – same like with pricing strategy – where a company such as GE Lightning uses software which evaluate many relevant factors influencing the change. They guarantee 7% min – but it never went that low in my case -always 14.

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