Recent Forex Scams Are A Reminder to Always Be Careful With Your $
Posted on July 28th, 2009 by Yours Truly under Forex In relative terms, the forex as a retail market is still very young, especially in the US. The US government is passing regulation annually to give the industry more regulation to bear, but it’s still pretty light compared to other, more mature capital markets. This makes the forex a tool of opportunity for frauders and scammers
To help combat the rampant slime in the market, we frequently offer tips and hints for avoiding forex scams. Here’s a link to our most recent article on Avoiding Trading Scams.
To supplement that, I thought I’d give a few links to recent forex scams in the news as a warning for traders to watch and be prepared.
A man in Washington state used his church connection to run a forex scam:
http://www.hedgeco.net/news/04/2009/seattle-scam-targets-church-members-senior-citizens.html
The CFTC raids a Florida company in the middle of the night and secured documents proving the company’s forex investment product was a $17 million scam:
http://www.naplesnews.com/news/2009/apr/07/naples-man-part-group-charged-17-million-investmen/
Surprise! A Forex Investing company in Nigeria wasn’t quite on the up and up:
http://www.thetimesofnigeria.com/Article.aspx?id=1581
An article on the general cost and pain of investment scams:
http://www.politonomist.com/the-unspoken-ponzi-price-tag-002096/
- •About
0.25%
0.50%
2.50%
3.75% 
1.00%
0.25%
0.25%
0.10%
July 28th, 2009 at 10:24 pm
as the noteworthy Ralph Waldo Emerson said – \”What lies behind us and what lies before us are tiny matters compared to what lies within us.\” – I\’m absolutely looking forward to reading more of your posts!