Forex - "Fraud" or "Improvidence" - Page 2
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Thread: Forex - "Fraud" or "Improvidence"

  1. #1
    Super Moderator Gulfstream's Avatar
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    Forex - "Fraud" or "Improvidence"

    Forex - "Fraud" or "Improvidence"

    Forex - "Fraud" or "Improvidence"
    : when these concepts are contiguous, and when it derived one from another?

    In order to simplify us the understanding of this question, let's define each of these concepts.

    So, the "fraud" - is the theft or acquisition of rights to someone else's property, including funds and other benefits by deception or abuse of trust. This deception can be both passive and active form.
    The passive form of deception - is a deliberate omission of any facts (events of reality), while the active form of deception - is a conscious distortion of the truth (reality).

    Under the "improvidence" is often understood the negligent, carefree, short-sighted attitude to the events happening around.
    The concept of "improvidence" is closely connected with the concept of "inattention" .

    Regarding the Forex market, there are present both concepts.
    Fraud at Forex - it is one of the most prosperous areas. And believe, it is “a vast sphere for action”. The lack of clear legislative framework governing relations at Forex currency market, «let off the leash»to many people.
    If we consider scope of activity at the Forex market the so-called scammers can be divided into several groups.

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    Last edited by Gulfstream; 09-03-2015 at 01:21 PM.

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    the worst of them all are scammers they can even use law to defraud you and its not easy to read them but you can tell when one wants something from your pocket without the leisure of trading forex with the right season and being sure we have the same process that can be proved , scamers are hard to find an catch, and also there are those who can enter your process with the wrong reasons.

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  3. #12
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    Quote Originally Posted by rinaji View Post
    Good thread, I have never read this kind of article before. I think I am including a lucky trader, I've tried to trade twenty broker or more, some of them are already declared bankruptcy, even one of them are scam or cheating, and now these broker does not exist anymore, but I never had a problem when I still a part of them as a client. That's why I say that I'm lucky person in this regard.

    Thanks for this valuable information mod...., really I need this kind of topic.
    Yes not all brokers can dare to have threads of this kind. Only a genuine and reliable broker like roboforex can. It is true that these are unique threads opened, especially in the legal aspects section. We would barely find these kind of valuable information given by any other broker. With experience from my trading with Roboforex I can say that here we not only get comfortable and good trading conditions but our trading and our money is in safe hands.

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  4. #13
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    Quote Originally Posted by PROPENSITY100 View Post
    Yes not all brokers can dare to have threads of this kind. Only a genuine and reliable broker like roboforex can. It is true that these are unique threads opened, especially in the legal aspects section. We would barely find these kind of valuable information given by any other broker. With experience from my trading with Roboforex I can say that here we not only get comfortable and good trading conditions but our trading and our money is in safe hands.
    That's why I love robo forex very much too, other broker's don't have a great facility and a great community like robo forex forum, Now its well proved for me that robo forex broker is a genuine broker, you are right there are unique threads in this forum especially these new ones, I have rarely seen that broker's talk about this kind of valuable information, I will request forum moderator's to tell us more ideas and information which can help us to save ourself from any scam.

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  5. #14
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    Fraud is not the brokers who are doing the main business and want to make money for the long term. yes if you want to make money in the forex market the best way to do so is to make sure that you are making money with a proper plan and proper strategy.

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  6. #15
    Trader layigold's Avatar
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    Quote Originally Posted by splash View Post
    The most popular fraud we have in the business is the last one, which individual fraud where in some one who is yet to trade and make money tells you on how to trade just to sell some untested strategy. In the aspect of the first group, most of the times some brokers are been accused wrongly and most of the traders that feels cheated on are the scalping traders, I have been doing a whole lot of research and have seldom see where a long term swing trader complain much about brokers requote or stop haunting.
    I have personally suffered this from a broker and that I got to know when I made a withdrawal of the huge profit I realized as a result of using higher lot size. I was fortunate to have the market go in my direction and the broker denied me of withdrawing my profits by cooking up a story and at some other times, My position moved far above my take profit target and my trade was not closed and it was another story entirely. I do not want to mention the broker because the rules of this forum does not permit such. In that case, how does one seek a redress ?

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  7. #16
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    actually forex frauds are everywhere in the internet, once you accept their offer then and their you become their victim, thank God i found the robo forex brokers because they are the best brokers i have ever seen in the trade. The are legal and genuine and all standard, the pay you your money as at when do and dont charge anything unnecessarily.

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  8. #17
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    Quote Originally Posted by layigold View Post
    I have personally suffered this from a broker and that I got to know when I made a withdrawal of the huge profit I realized as a result of using higher lot size. I was fortunate to have the market go in my direction and the broker denied me of withdrawing my profits by cooking up a story and at some other times, My position moved far above my take profit target and my trade was not closed and it was another story entirely. I do not want to mention the broker because the rules of this forum does not permit such. In that case, how does one seek a redress ?
    Indeed I have seen so many cases of fraud with some brokers and this altitude is very bad because instead of seeing yourself in a winning trade, you get to see negatives and in most cases they won't prompt your withdrawal. Most of this brokers do these things and get away with it thinking it's hard for their client to come for their money in a legal way. Am sure some strict client can't tolerate this and they can spot those kind of one's and issue them refund.

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    Most fraud are recognized by traders due to inconvenience and cheating done with them. However understanding technical frauds and gliches in the trading system also needs to be shed light upon, traders cannot understand technical frauds, I can't really say that whether to blame the broker or not, for instance, I have compared charts of 2 brokers and see prices in cross pair at most 70 to 80 difference in highs at major announcements eg EURAUD, GBPAUD, don't understand why the price has so much difference, spread for both brokers were between 3 to 5 through out day, and between 15 to 20 at events.

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  10. #19
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    There are a lot of fraudsters on social media claiming to be professional traders, some claim to be forex tutors why some claim to be signal providers, why some sell trading software, there are so many fraudsters that scam people money by telling them fake info and those people who are new are looking for fast way to earn, so they fall victims to such simple tricks.

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  11. #20
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    Quote Originally Posted by davido View Post
    There are a lot of fraudsters on social media claiming to be professional traders, some claim to be forex tutors why some claim to be signal providers, why some sell trading software, there are so many fraudsters that scam people money by telling them fake info and those people who are new are looking for fast way to earn, so they fall victims to such simple tricks.
    When I see those kind of forex guru as they claim posting winnings on facebook and looking to entice you to subscribe with their platform, I ignore them knowing that majority of them are all scam. They would rip you off and give you signals that you will struggle with before you can even earn a token at month end. I don't path my money with them because in most cases if I look well I might be a better trader than the signal provider.

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