16/06/ · The most important lesson that a prospective trader will derive from the above is that it is not a good idea to evaluate a forex scheme even on the base of the investment returns: Unless there is first-hand knowledge of the trading practices or a considerable degree of transparency about the firm itself, there is no guarantee that a track Estimated Reading Time: 10 mins 12/03/ · 2. Forex Ponzi scheme. Ponzi schemes are basically fake investment management companies. Instead of people paying a fee like in a Pyramid scheme, people will invest their money into the scheme. The owner of the scheme will entice investors to invest with a forex guru of some kind, typically a called a ‘forex money manager’. There are many real forex money managers who trade a 13/10/ · Forex Trading Tips Home; Contact Me; Finance. Tax Saving Investment Schemes October 13, November 29, Matthew Jackson 0 Comments Tax Saving. Tax saving investment schemes for those looking for secure, safe and fixed interest rates on their savings meant primarily for saving taxes have several common options to consider. The five-year
Tips to avoid a forex scam or pyramid scheme
By Jul 19, WHEN looking for a reputable broker, there are several signs forex investment schemes should look for as forex trading can be accessed by pretty much anyone.
First, ensure the broker is licensed and operating under a government licence or regulation that covers your country, forex investment schemes. Licensed and regulated brokers are bound to operate under set rules and standards. Generally speaking, this should help protect your interests. Always ensure the licence that covers you is the one that is from your country of citizenship or residence.
However, if your country does not regulate the operation or broker, you can get a layer of protection by ensuring the broker is working under a known government licence. Reviews can be helpful but, sometimes, competitors pay review websites to taint the image of other companies just to look better in the public eye. For a better picture, it is more effective to find unbiased information about a broker from its existing and former clients.
This might be time consuming, but it could save you a lot of time and money in the long run. The most common scams in Nigeria are investment scams. It is rampant because there is a prevalent trend where investors try to grow their money through legitimate means online — like forex — without going through the process of understanding the basics of online trading.
Unfortunately, forex investment schemes, con artists capitalise on the trend and set up scam companies that promise juicy monthly returns with guaranteed capital protection.
Ignorant investors fail to investigate the validity of the bold claims and get their fingers burnt. Satisfied investors are used to draft in greater participation by giving mouth-watering benefits for referral.
The companies are aggressive with advertising and publicity, so they can maximise and expedite exposure. Some will even go as far as securing famous social media influencers and network marketers to encourage participation. From the outside, it appears to be working and can do so for more than a year, until forex investment schemes perpetrators either disappear with the money or start to experience a decline in new investors, which leads to the scheme crashing.
To protect yourself against forex scams, you must understand the principles of investing in forex. Like every other business, trading forex has underlying risks.
That means, no risk, no reward. Stop looking for guarantees, as you will probably buy into lies and fall victim to unfulfilled promises, forex investment schemes. Investors must educate themselves as it helps them manage risk better. Profit is made only when the trader outsmarts the risk, and investors who are well informed are more likely to do so. It is advisable to invest your money directly with a forex broker instead of putting it in the hands of a third party.
Money invested with a forex broker is accessible and withdrawable at any point in time should you no longer be confident or happy with the outcome of the investment. However, when you invest using third parties, you put yourself at their mercy. It can become frustrating, much like watching TV without a remote control to adjust volume or change stations.
Moreover, forex investment schemes, should you decide that you have not invested wisely, you may find forex investment schemes trapped in the investment and have no choice but to await your fate, forex investment schemes. If you must use the service of any third party, fund your account with a broker and share your trading account login details with them, so they are able to make trades on your behalf, or better still, use a copy trading solution if it is available.
If you are not happy with the outcome, you can either lock out the forex investment schemes party by changing your password or stop copying trades. This is the type of control every investor should have. There are regulatory bodies that you can refer to in order to verify brokers before you trade.
Every regulator has a list of the brokers they oversee on their website. The reason scams are so prevalent is due to a lack of regulation in some countries.
Citizens will never know it all, so it is up to the government to protect them from public financial scams. Should your country not regulate forex business, it is vital that you gather enough information and eliminate ignorance before investing. This can be achieved by attending seminars, webinars, workshops or conducting comprehensive online research before making an investment.
Forex scams are forex investment schemes common in countries without any form of licensing or regulation. Within the past decade, Nigeria has experienced several high-profile forex scams because of this, forex investment schemes. Trading with an offshore broker is riskier because you will not be covered in the event of bankruptcy or any other unforeseen situation.
Forex investment schemes is safer to trade with a broker that is licensed and regulated by your own government. Your government is expected to offer protection through regulation. Regarding Nigeria specifically, there should be a move by the government to understand and regulate the forex industry like South Africa did some years agoseeing that there is significant interest in the forex business.
Regulation will help eliminate high-profile forex scams, increase investor confidence and participation from corporate entities which will ultimately grow the economy. Tope Ijibadejo, Nigeria regional manager for CMTrading. Personal Finance Guides, forex investment schemes. Photo supplied. How to invest in Forex and identify ponzi schemes By Jul 19, Share this article: Share Tweet Share Share Share Email Share. Tope Ijibadejo WHEN looking for a reputable broker, there are several signs one should look for as forex trading can be accessed by pretty much anyone.
MORE ON THIS Economic growth forecasts lowered after looting in Gauteng and KZN Heads forex investment schemes state commit to helping Africa recover from shocks of Covid Safari Investments and Vukile Property Fund suffer damages to shopping centres. PERSONAL FINANCE, forex investment schemes. Share this article: Share Tweet Share Share Share Email Share.
Investor Warning: Protect Yourself From Online Crypto and Forex Schemes
, time: 4:11Is Forex A Pyramid Scheme? - The Ultimate Guide ()
3. Forex Ponzi Scheme. Ponzi schemes are fake investment management Companies. Like Pyramid Scheme, People will invest their money in this project instead of paying fees. The owner of this project will persuade investors to invest in some kind of Forex guru, usually called a ‘Forex Money Manager’ 23/06/ · A forex trading strategy is a set of analyses that a forex day trader uses to determine whether to buy or sell a currency pair. more Authorized Forex Dealer Definition and Regulation About Asisi Forex Investment. Asisi Forex is an investment scheme created for everyone to benefit from the profitability of the forex markets, which happens to be the world's largest and liquid market. Asisi Forex is a scheme owned and managed by FIRST ASISI GLOBAL VENTURES, legally registered and recognized for it's online trading activities and contracts
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