These scams promise high returns on investment but rely on funds from new investors to pay existing ones. Eventually, the scheme collapses when it becomes unsustainable.
Fraudulent individuals or companies offer to provide trading signals or systems that guarantee profitable trades but these signals are ineffective or even intentionally misleading.
Scammers create fake brokerage firms that appear legitimate but are designed to deceive investors. They manipulate trading platforms, delay withdrawals, or refuse to return funds altogether.
Some scammers promote automated trading systems or expert advisors that claim to generate significant profits. They often fail to deliver results & even cause substantial losses.
Fraudsters offer to manage investors' forex trading accounts, promising substantial returns. They engage in unauthorized trades or misappropriate the money.
Scammers convince individuals to pay upfront fees for services such as forex training, trading signals, or access to exclusive trading platforms. Once the fee is paid, rpomised services are never delivered.
While not exclusive to forex trading, binary options scams involve platforms that manipulate prices and payouts, making it nearly impossible for traders to profit consistently.
Fraudsters promote a particular currency, artificially inflating its price, and then sell their holdings to unsuspecting investors before the price crashes.
Scammers pose as offshore brokers with lax regulations, enticing traders with appealing offers, but they engage in unethical practices and vanish with funds.
Scammers pose as legitimate forex brokers or representatives of reputable financial institutions, using deceptive tactics to gain investors' trust and access their funds.