The Forex industry is one of the largest and most liquid markets, which means that huge amounts of money are moved back and forth every day, attracting many investors, speculators and of course fraudsters. Especially many beginners are enthusiastic about the possibilities to win a lot of money in a short time and quickly fall for the promises of many fraudsters.
There are many different kinds of fraud attempts in the Forex market.
- the broker can intervene manipulatively and create high spreads or slippage in his advantage
- vendors sell Expert Advisors that do not deliver what was promised
- Trading results of Expert Advisors are manipulated
- And much more
You should also keep in mind that according to European Securities and Markets Authority (ESMA)
In other words, with a probability of about 90% you will lose money. Therefore, do not be blinded by fraudsters and their empty promises. If you follow the advice below, you will significantly increase your chances of success and making money in the Forex market in the long run. Always keep your nerves and use your common sense. Nobody has money to give away. If something seems dubious to you, keep your distance. Successful acting always means hard work and only long term results are of interest. As in any industry, so in the Forex market, the fact is that the higher the potential profit, the higher the risk of losing the investment.
Before you decide to buy an Expert Advisor, consider the following critical issues. But also take a look at what we think a professional and trustworthy Expert Advisor must have.