How to Spot a Forex Scam
Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Forex Brokers and other Forex topics.
How to Spot a Forex Scam
Not all Forex brokers are legitimate, so it really pays to do your homework! Never make out a check or a wire transfer to anything other than a broker registered by the NFA (National Futures Association) and beware - there are NO NFA registered companies located offshore or in the Bahamas.
Most Forex fraud comes from Boca Raton, Florida, Russia, Southern California, and outside of the U.S. so be very careful when dealing with "Forex brokers" from one of these locations.
If claims are made like " Make $10,000 per day" - be very wary. Remember, if it sounds too good to be true, it probably is.
