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Easy forex trading scam what is scalping on forex

Easy forex trading scam

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All the unsuspecting trader has to do is hand over X amount of dollars for the privilege of trade recommendations. Many of signal-seller scammers simply collect money from a certain number of traders and disappear. Some will recommend a good trade now and then, to allow the signal money to perpetuate.

This new scam is slowly becoming a wider problem. A persistent scam, old and new, presents itself in some types of forex-developed trading systems. If the parameters and optimization codes are invalid, the system will generate random buy and sell signals. This will cause unsuspecting traders to do nothing more than gamble.

Although tested systems exist on the market, potential forex traders should do some research before putting money into one of these approaches. This can be viewed as a scam in itself. No trader should pay more than a few hundred dollars for a proper system today. Be especially careful of system sellers who offer programs at exorbitant prices justified by a guarantee of phenomenal results. Another persistent problem is the commingling of funds. Without a record of segregated accounts, individuals cannot track the exact performance of their investments.

Section 4D of the Commodity Futures Modernization Act of addressed the issue of fund segregation; what occurs in other nations is a separate issue. An important factor to always consider when choosing a broker or a trading system is to be skeptical of promises or promotional material that guarantees a high level of performance.

For example, can you enter or exit a trade during volatile market action after an economic announcement? Many changes have driven out the crooks and the old scams and legitimized the system for the many good firms. However, always be wary of new forex scams; the temptation and allure of huge profits will always bring new and more sophisticated scammers to this market.

Bank for International Settlements. National Futures Association. United States Congress. Advanced Forex Trading Concepts. Your Money. Personal Finance. Your Practice. Popular Courses. Key Takeaways Many scams in the forex market are no longer as pervasive due to tighter regulations, but some problems still exist. One shady practice is when forex brokers offer wide bid-ask spreads on certain currency pairs, making it more difficult to earn profits on trades.

Be careful of any offshore, unregulated broker. Accordingly, the maximum duration offered for Day-Trading deals is limited usually 1 week but it can also be shorter or longer depending on the currency pair traded. Traders can select over products ranging from currencies, commodities and metals, to options, using their desktops, tablets or smartphone devices with account. There is also a wide range of agricultural commodities over and above what most brokers offer such as cocoa, corn and coffee.

Traders can take advantage of the easy-forex Trade Simulator with no obligation or risk and at no cost. The Trade Simulator lets newbie traders explore the easy-forex platform features which include the Inside Viewer that shows them the most popularly traded currency pairs or the Trade Controller that enables them to visually set their risk management strategy.

The trading simulator is a great way to sharpen trading skills or to test out some trading strategies. There are training videos for both beginners and advanced traders and a free Forex guide ebook that can be easily downloaded and includes basic information on trading in general as well as tips and techniques for successful Forex trading.

Forex webinars are online and accessible from anywhere in the world and seminars offer traders an opportunity to meet the easy-forex team in person and interact with traders like themselves from other areas. An additional chance to meet other traders is provided at easy-forex expos which take place periodically in many different locations.

A listing of upcoming expos and other events are listed on the website. Questrade Features. There were several promotions going when doing this review. With the Win-Win bonus, a trader need only make a deposit of any amount. Funding to easy-forex accounts can be done with credit cards or via bank wires.

They accept 12 different currencies. Withdrawals are done by filling out an online form. Funds are returned using the same methods as the deposit. Queries can be sent by email and snail mail can be sent to easy-forex at their address in the Marshall Islands. Live Chat is also available.

Options can be set to expire up to six months from initiation date. The website is user-friendly and easy to navigate. The broker is well regulated and offers a host of educational features for both beginners and advanced traders. The most attractive feature at easy-forex is its list of generous bonuses and promotions. At the time of this review there were at least four bonuses being offered which made opening an account with this broker both lucrative and fun.

There is nothing like a good promotion to attract new clients and easy-forex has done just that. The fact that the broker is regulated by several organization adds to the appeal of this broker. The platform includes sophisticated tools, real-time rates feed, one-click trading, freeze rate, live market news and other unique features. The platform is fully transposable once downloaded. Trading Platforms. The easy-forex platform can be used on most mobile devices including iPhones, Androids and Smartphones.

The popular MetaTrader4 platform at easy-forex offers fixed spreads, the use of Expert Advisors, hedging, microlots starting from 0. MT4 Platform. Did you have a good experience with this broker? A bad one? Tell our team and traders worldwide about your experience in our User Reviews tab. Your email address will not be posted. Please make sure your comments are appropriate and that they do not promote services or products, political parties, campaign material or ballot propositions.

Comments that contain abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind will be deleted. Comments including inappropriate, irrelevant or promotional links will also be removed. Super make-over. I like the new features.

I may just open an account with them. I hope theyre as good as they sound. This is a pretty well stocked brokers. I've had an account with them for years and have done pretty well. The platforms and everything else is pretty standard and I have no complaints. The easy forex classic platform offers a couple of nice features that the other brokers don't. For a beginner trader like me I found the site easy to maneuver and when I followed the instructions for opening my account it went pretty smoothly.

This review is easy to read and has a lot of useful information about the easy forex classic trading platform. It seems to me that the Easy forex classic is a pretty standad platforms and many of their other features are pretty standard too.


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If you are a novice, it is absolutely essential to equip yourself with knowledge before you start trading. How educational is the broker? Is the trading method easy to understand from the website? What tools and resources are available to help you learn? For example, is there a comprehensive library? What is the market information like and does the broker use world-class newsfeeds such as Reuters?

Does the broker disclose all relevant fees? Are the spreads for currency pairs fixed and clearly stated? Brokers that offer low or no spread can be seen to be forex scams as their spreads may widen when the market is volatile. Your relationship with your broker is a two-way street. Is the broker flexible enough for you to start off small with low leverage and grow more sophisticated in your trading when you are ready? For example, does it offer tiered accounts?

A good broker will ensure that you are supported by a personal account service manager who acts as a guide as you take your first steps in forex trading. Once you are more confident in your trading you will have the opportunity to have your own personal dealer to support you in your trading and to better understand the forex market.

Do not use a broker that does not have well-known Internet and payment security systems. And ask how credit card clearing is handled. Do not forget this. Although a broker may be online, do the people "act real"? Do they have physical office locations around the world?

Can you contact your broker and get one-on-one service from a human being? Are they the sort of people you can deal with? That means that no clients who are resident outside Australia have the protection of ASIC regulation if they trade with easyMarkets or easy-forex.

Therefore, all clients who are resident outside Europe and Australia have no protection from any form of regulation. This applies to the vast majority of the clients of easyMarkets and easy-forex who happen to be from China and the Middle East. If you are trading with easyMarkets or easy-forex and you live in China or the Middle East, you are trading without any form of regulatory protection. Clients in Europe will see a different website than clients in China and the Middle East.

This system has been constructed specifically to minimise the potential issues generated by regulation and is contrary to the interests of its clients in China and the Middle East. They are deliberately being mislead. The potential implications of this system are severe. If the company were to be declared bankrupt, clients from China and the Middle East could lose their money. Additionally, if a client were to feel they were cheated in some way, there is no regulator to ensure a complaint is dealt with properly.

It is purely a matter for the company what action, if any, they take to resolve any complaint from a Chinese or Middle Eastern Client. It would appear that they want everyone to believe they are protected by regulators who are watching over their conduct in order that clients feel confident to deposit their money.

However, their claims are inaccurate. However, if you are a client from China or the Middle East, would you really feel confident depositing your money knowing that it is not protected. They are the only ones with the insurance tool dealCancellation and this has been really great for my trading. Even if you pay 50 to use it you will save hundreds by being able to cancel a losing trade.

I think they are a more established broker so safer option. Signed up in easyMarkets to try the new cancel deal tool and recommend it. It seems to good to be true to cancel a deal that has against you within an hour? A trade is a trade you cant back in time and say oh I wish i had not done that so lets not. Now Nicolas cannot answer my question.

I would suggest everyone who trading with easy forex check easy forex withdrawal system. They insisted I had made the trade, if so, it could only have occurred because of my not having been able to place a new order, for about 45 mins. I then right clicked to open up a trade which was either pending or had transitioned to being opened to active. I tried to close it, but somehow it must have not closed. Subsequently,about 6pm I came back to check my many trades as I knew I needed to close some if losses were blowing out because of markets volatility,I notice3d a huge account balance discrepancy, then checked emails from easyforex found some issues and contacted Cyprus.

If I had not been terminated, I would think they are good brokers in the main. I notice other customers of other brokers have complained of getting hit with the 1 full lot issue too, now, I compare, and am wondering more as to whether my trade was manipulated. I have noticed with comments on forex forums that you start to see the house wins against you when you start making money.

I assure you, I never knowingly made a big trade like this!!! He is famous with his 20 years practice as a Wallstreet broker. The file, which they sent me, directed me to a link in which I was obliged to pay USD for monthly subscription. I was very surprised, because I have already paid for annual subscription at the discount price of USD They provide complete guidance and training to new comers and for experienced traders they open up the opportunities to earn more profits. Your email address will not be published.

Avoid being scammed now and get started here! Note: Leveraged products, your capital is at risk. This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

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Easy-Forex — Scam or Not? VN:F [1. October 26, at pm. September 26, at pm. Andy says:. March 23, at pm. Mary says:. January 12, at pm. Alex Henry says:. January 3, at pm. Critical Mass says:. November 14, at pm. Katerina Teica says:.