A forex scam is any trading scheme
used to defraud individual traders
by convincing them that they can
expect to gain a high profit by
trading in the foreign exchange
market. Currency trading "has
become the fraud du jour,"
according to Michael Dunn of
the U.S. Commodity Futures
Trading Commission. [1] But
"the market has long been plagued
by swindlers preying on the
gullible," according to the New
York Times [2]. "The average
individual foreign-exchange-trading
victim loses about $15,000,
according to CFTC records" according
to The Wall Street Journal. [3].
The North American Securities
Administrators Association says
that "off-exchange forex trading
by retail investors is at best
extremely risky, and at worst,
outright fraud."
used to defraud individual traders
by convincing them that they can
expect to gain a high profit by
trading in the foreign exchange
market. Currency trading "has
become the fraud du jour,"
according to Michael Dunn of
the U.S. Commodity Futures
Trading Commission. [1] But
"the market has long been plagued
by swindlers preying on the
gullible," according to the New
York Times [2]. "The average
individual foreign-exchange-trading
victim loses about $15,000,
according to CFTC records" according
to The Wall Street Journal. [3].
The North American Securities
Administrators Association says
that "off-exchange forex trading
by retail investors is at best
extremely risky, and at worst,
outright fraud."
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