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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. #31
    Rookie Senorita's Avatar
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    I could remember I got a call from a broker, I was trying to digest what the operator was saying until he start mentioning forex and the value. Been a trader I have known before hand about this business and was interested in the conversation. At a point the broker asked if am with the Internet, I replied yes only to mention their site for me to access. Still on the call they where directing me on how to open an account and I was doing so till it get to the point they asked about my master card to deposit immediately. I laughed, they never even talked about verification.

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  3. #32
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    In spite of the fact that some novice dealers lose cash because of absence of information, abilities and experience and afterward blame agents for being fake however there are honest to goodness instances of forex merchants being fake and I have fallen casualty of this previously and that his why I will dependably set aside opportunity to consider the terms and way of activity of a specialist before I submit my cash to its trust

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  4. #33
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    There is a point in what you have said, I don't believe that novice traders are losing because of lack of information, their problems is lack of applications of what they already know, there are millions of pages in the Internet that talk about Forex and how to earn from it, but many are reluctant to face the reality that hard work is the way forward here.

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  5. #34
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    Article is good about not reliable companies. I had such calls from the companies I had heard the first time. All these tricks were used in order to atract me to these websites. But I answered them that I do not need a new company. Concerning the calls from roboforex, I had such but all the calls were with invitations to seminars or some other serious juridical things to be done.

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