The scams in the Forex and online trading are a reality, especially in Spain, where the number of victims of fraud in trading is impressive.
As schemes evolve, scam trading sites try to get the money. But is there a money back solution?
As there is always going to be fraud in Forex, ensure you don’t fall for it.
Trading scammers are likely to target beginning traders who are desperate for income or haven’t practiced enough yet.
The best antidote is KNOWLEDGE. The best advice we can offer you is to learn the fundamentals of the Forex market and develop advanced techniques.
Once you dominate the market, you will no longer be an easy target. That is why we always recommend continuing the training.
Sometimes Forex trading scams are named with the creator, such as the Ponzi scheme, developed by Charles Ponzi.
However, one thing is common: forex trading scams often use expressions like “an investment opportunity too great to be factual” as a method to obtain the money.
That is why whenever you lack experience in trading, a site where fraudulent operations are carried out will try to abuse your hopefulness and your fears.
Nobody wants to lose money. This is where Forex scammers come into action to make you an attractive offer that you don’t like to reject.
Worrying Figures from CFD Trading Scams
Let’s look at some data to get a slight idea of the dimensions of the problem of Forex scams.
If we analyze the last years:
The Securities Market Commission in USA detected 500 financial bars in 2020, 53 of them in Spain. That same year 9980 complaints were received from investors, 95% of them submitted by individuals and only 5% by companies.
However, although these data are quite worrying, in 2021 they were exceeded. The authorities detected a total of 600 financial bars, 100 more than in 2020, 63 in Spain.
That is why the Securities Market Commission decided to take another step in the fight against scams in Forex and in finance in general and to make a collaboration agreement with the National Police.
But the most astonishing data is that of 2019, 3230 warnings from the Securities Market Commission in USA! This shows that the security measures and investigation to prevent fraud in Forex are more demanding than ever.
However, we do know that, as a consequence of the measures adopted by Covid-19, 2 new forms of scams have become popular in the investment world, through:
- Remote access software (such as AnyDesk, TeamViewer, etc.)
- Virtual private networks (VPN services).