The psychological tricks of frauds on Forex market - Page 2
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Thread: The psychological tricks of frauds on Forex market

  1. #1
    Super Moderator Gulfstream's Avatar
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    The psychological tricks of frauds on Forex market

    The psychological tricks

    Nowadays we often meet people, who has suffered with fraud hands on Forex market. As the rule, it is traders–beginners or those people who does not have a concept about what Forex is and “what it eats with”, but decided to make as much money in a short period of time.
    In this topic, I would like to draw your attention exactly to psychological tricks, with the help of which, so-called frauds “hook” naïve customers.
    You ask, what such psychological tricks are. Let’s examine it in more details.


    In this topic determined manipulations are interpreted as psychological tricks, impacting on your and our mind, which is very often used by marketing specialists, but increasingly – by notorious frauds. The difference between fraud manipulations and marketing ploys, consists only in that the tricks of the first one are mainly directed to lower our vigilance, to warm into the confidence, and of course to get into the purse.


    All this psychological influence starts from simple phone calls…

    Somebody called you introducing himself as employee of some broker company/dealing company (next DC/BC), with the offer to become their client. May be there is nothing wrong here. Many companies have call-center, where employees work with clients through telephone connection. But there is one “BUT!”, which is worth paying attention to.

    One thing, when representatives of the company call you, where you worked someday and/or left your requisites, and another, when you hear about the company at first time and never, nowhere put your personal details. Of course, there are such situations, when one company clients database is transferred to another one, it is also should be taken into consideration. However, there are nuances here…



    Phone calls are made not once, and not twice, but with regular periodicity, which you are imposed theirs services in. Theoretically, this small call is suspected as something wrong here.
    Because of your own busy, inattention, frivolity and/or trustfulness, more often, we don’t pay attention to this “call”. Herewith phone calls are continued.
    What happens, when we are constantly advised and/or offered something during a certain period of time? Surely, the idea appears in our mind: “Why not to try…”. This is what the psychological trick is expected for, to appear even small but the wish to work with the certain company. In such case, frauds’ insistence played its game…

    Another psychological trick of impact on us is the method of persuasion.


    The same person tries to persuade us in every possible way that theirs company is the best one. Most of all, frauds have such expressions in the arsenal, as:
    · «we are the most reliable company»,
    · «we guarantee you the highest level of income»,
    · «your deposits will be insured»,
    · «total lack of risks»,
    · «all your losses will be reimbursed fully »,
    · «you will be supervised by the best traders/analysts of the company»,
    · «we work with the most reliable and proven signals»,
    · «here(giving the link of the source) you can look at our clients feedbacks»
    · «we make the agreement will all our clients, which will protect all your rights and interests» etc.


    Thus, all these arguments sound very persuasive, displacing the usual warnings about risks, which exist every bona fide company, to the background. And next idea, which appears with us: “Why not to invest money in the company, if it promises high level of income and… I can make good money with low level of risks… exactly, I need to take the advantage of the deal…”
    So, because of first two psychological tricks of frauds, You have already become the client of some broker/dealing company. However, the psychological impact on you does not ends on it.

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  2. #11
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    I can never fail a victim to anyone when it comes to the forex trading business because I no almost every step required to start trading forex, and I no the real brokers and the fake brokers, the real signal providers too, so there is no way I will be play by anyone, but for those who have no good understanding about the forex market can fall victims to those professional forex fraudsters.

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  3. #12
    Trader Sixteen's Avatar
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    If we must know there are fraud going on with some brokers and this is very important so we could not fall a victim. We can see some brokers pay third party organization to provide them with the list of forex traders numbers. With this they could contact you to tell you about their platform. I have experience it and when I was on the call the lady went ahead to ask me to open an account, I was following due process until it reaches where they ask me to fund my account with my card. This was surprising as they don't even care for the fact that I haven't verify my profile. The representative was all interested in ensuring I fund my account very fast.

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  4. #13
    Trader strobstrob's Avatar
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    So many brokers this days, so many approachs to attract new clients. Almost all of them have some "best broker", "best service" etc. awards. Some of them have practice to calling You and forceing You about some webinars, some bonusies (extremely useless and tricky) etc. I made conlcusion based on expirience that more calls You get there is more chance that company will trick You. Decent broker will not annoying You with anything.They deliver only what You asking for. Decent broker have quick e/mail response, regulation licence and good reputation when You search a little around FX related sites, forums .

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    Last edited by strobstrob; 06-05-2016 at 10:59 AM.

  5. #14
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    the trader should always before joining any forex company should read the pinions of the others about this broker to see if it is good and trusted and honest broker or it cheating the clients, this will let him to get a complete picture about this company and see its advantages and their disadvantages and decide if he invest in it or not.

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  6. #15
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    The mentality of newbies about the brokers is that they engage in sharp practices but at times it may be true but not often.Your ability as a trader to distinguish between a good trade and a bad one will assist you to overcome yhis fear factor.Psychologically speaking you must study in details rule of engagement from a broker befpre you choose to use that platform to trade.with necessary precaution fraud will be minimized.

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  7. #16
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    Quote Originally Posted by adeforex View Post
    The mentality of newbies about the brokers is that they engage in sharp practices but at times it may be true but not often.Your ability as a trader to distinguish between a good trade and a bad one will assist you to overcome yhis fear factor.Psychologically speaking you must study in details rule of engagement from a broker befpre you choose to use that platform to trade.with necessary precaution fraud will be minimized.
    It will call for concern when newbies see some bad practice with the broker they are working with. So for them to reduce the chance of trading with the wrong broker, proper research need to be made so that they can see if they can really working with a good broker. Some brokers are synonymous to fraud and avoiding those kind of broker is important so we don't get deceived.

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  8. #17
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    Having that mentally prepared during that time for trading you have to know how to be well prepared to the way that the market will be treating you be it if you are losing or when you gaining you have to know that you know when to to enter trades psychological health insurance is one that you have to keep adjusting according to the way your trades are

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  9. #18
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    The right form shows when we work when we have some of the right we have to develop the right channels that we need to work and in the right psychological issue we know its working for the right passion, the moment you see traders moving in the same direction there are some people moved and lost there are always been told they can be told how to develop the right choice

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  10. #19
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    from my personal understanding, i know that many time several traders do not take enough time to learn the forex market very well before going live and when they lose their money they put all the blame on their brokers which is not right, it is part of our responsibility to know what term that are guiding our business, take enough time to know those things that you will do that will make the business prosper in your hand so that even if a broker want to play some trick on you, it will be very difficult for them to do so.

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  11. #20
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    Some companies rely on well thought out plans to bring customers and use psychological tricks and through presentations of bonsat no deposit and deposit bonus and after entering the customer network imposing ruinous requirements on him to withdraw his profits and therefore the client is located in a big frustration makes him despair of trading

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