Where there's money, there are scammers. Forex has its share. Learn the red flags.
Guaranteed returnsNobody can guarantee market returns
Send me your loginAccount managers who want your password
Unregulated 'broker'No licence you can verify
Lifestyle-only proofCars and watches, no verified track record
Pay to withdrawFees or 'taxes' before you can get your money
Pressure & urgency'Only today', 'last spots'
Common scams
- Fake account managers: "Send me your login, I'll trade for you." Then the account disappears.
- Unregulated brokers: deposits are easy, withdrawals mysteriously aren't.
- Signal sellers with no track record: screenshots of wins, never the losses.
- Recovery scams: people promising to recover money you lost to other scams. For a fee.
- "Pay tax to withdraw": a real broker never asks you to send more money to release your money.
Pro tip
Verify everything: broker licences on the regulator's site, track records through independent verification, reviews from multiple sources.
Wick says
If someone guarantees 10% a month, they are lying. If someone guarantees 10% a week, they are lying faster.
Key takeaways
- Guaranteed returns = scam.
- Never share your trading account login.
- Verify broker licences yourself.