The Scam of Forex

A few weeks ago I got an interesting message from a guy on Instagram. He said he was lured into currency trading by an Instagram account. He sent them $4,000 USD to trade for him and they somehow showed him they had turned it into $12,000 USD on a fake website. After seeing this he requested they withdraw and give him the funds. They contacted him and told him he would need to pay tax on that money and the tax was $8,000. He then preceded to pay over the $8,000 to get the $12,000. I hope you have been following, if you have been you would’ve noticed that he was giving them $12,000 to get $12,000.

I guess maybe he was blinded by the fact that they had tricked him into believing they had turned the $4,000 to $12,000 USD. He said it went on like this until he had sent them a total of $22,000 USD. I was so shocked that he kept giving them money without noticing he was been scammed. He gave them his life savings and money he had borrowed from his friends and now he can’t repay. He went on to say he lost his wife, family, and friends during this time because he had taken loans from them to give these scammers to trade for him.

After telling me about his story he asked if I could help him recover all the money he had lost with the little money he had left. I know by now you are wondering what was my response to him. I normally would joke around, I was going to joke around and say something stupid but I empathized. It took me a while to respond and by this, I saw the need for this post. Obviously, he had a bigger problem than losing $22k. You might think he is stupid but he has the same problem most of you guys have.

Oh yea, I told him to get off the internet because he was scammed and there he was again trying to find someone on the internet again to help him.

At the time of publishing this post, I have over 40,000 followers on Instagram. The two (2) most common forex questions I get are:

  1. Do you do account management?
  2. Do you give forex signals?

This is the problem, the idea of “Easy Money” I try to help traders get better, and with patience and discipline become profitable. Let me confess, for the persons who ask either of those two questions I always tell them my book isn’t for them.

This is a very serious issue, scammers know you want easy money and they aren’t afraid to promise you whatever your heart desires. People who steal content from my page put it on theirs and you would be alarmed at the number of followers they have.

Do not send a weird guy on the internet your money thinking they will turn you in a Billionaire. If you want to learn forex go to www.babypips.com.

You don’t have to buy a course or signals

Instagram is full of fake and my suggestion to you is trying to learn on your own or if you must find genuine traders who you at least post stuff that actually helps you improve on your trading. Not traders who blast you with an ad of their signal service every second of every day. If they have never posted anything that helped you why are you even following them.

Be safe out there guys!

 

6 comments
    1. Its not too hard brother. Its depend how much effort and time we spend for learning something new for change our life…
      Keep practice brother its will makes you perfect… πŸ™‚

  1. Please also tell them one unmovable truth : THEY WILL BE LOOSING MONEY WHILE LEARNOING TRADING. I didin’t say “may”. An d tha is part of the process because the second thing they have to change to get their own psychology fit with this business and the whole industry is that FEAR OF LOSS WILL GET THEM TO MESS.

    Tkx for sharing.

  2. can i just say as blunt as mr squid sounds… take the time and discipline to buy the ebook. he is not the one to advertise himself and promise you stable income. he is the real deal. I’ve been through this scam but lucky for me it was money i was willing to risk. Unfortunately through this game you’ll only see results over a long period of time. you have all the time in the world. when we all die one day this material things we build will not go with us. Happiness is found not in money but hard work. like mr squid says win or loose you treat it the same way. be safe guys and girls

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