Do you wonder if it is even possible to identify a scammer or scam? With the guidance of EzChargeback, it is hell possible. All you require is to have adequate knowledge about trading platforms, along with the scams. Forex is an illegitimate trading place or website. However, scammers somehow manage to lure the investors into their traps. EzChargeback will help you identify the scammers by exposing their strategies and manner of working.It is obvious that one way or another, they do leave a trace which alerts the investors if they are well aware. For instance, deregulation and higher demands.


What is Forex?

Before knowing about scams on forex, it is essential to know what Forex trading website is. Forex is an online trading platform used to buy imported, sell exported goods as well as buying other business activities. It is said to be a “zero-sum” manner of working, which means that one party has to incur a loss for the second party to gain a profit. That demonstrates risk not fraud, like all other businesses, Forex is also highly unpredictable and unreliable. But still people make a great amount of money from it. 


Drawbacks Of Forex Trading Company 

Forex like all other trading websites has several drawbacks. The lack of accountability and transparency is at the top of the list. Why are scammers targeting online trading businesses more compared to manuals? The answer is because they know they can get away easily. Most of the transactions made are anonymous, you are not aware of the other party. You are sending money to some unknown and anonymous business person. This increases the risk for investors, however, decreases the threat for scammers. Now, it is obvious if scammers are untraceable, they would be willing to shift their focus to online trading platforms like Forex. 

How to Spot a Forex Scam

How To Spot Forex Scammers?

There are several ways Forex scams are being conducted, and scammers use multiple strategies and tactics. EzChargeback will help you unmask them. The most essential way investors can spot a scam is by understanding the Forex manner of operation. 


  1. High Investment Return

The most common scam which has trapped multiple investors into inescapable ways is the high investment return offer. The brokers are likely to contact you by ensuring that you will get 1000% return from your investment. You might think of returning towards such an offer, but you should stop right there. It is not an offer, it is a trap. They make you invest huge amounts which will keep going in their pockets while you will be told that profit is rising. 


  1. Unregulated Brokers

The reports have stated that scammers acted in unregulated ways. They try to hide the details from you, do not provide the full transaction information, and do not respond according to instructions. Eventually, they find the first chance of stealing money and running. Thus, you have hired a regulated broker. 


  1. Malware Softwares And Links

The scammers also install malware software by making you click on the links provided on the email and the social media accounts. However, they use false content and offers to pursue the investors clicking on the link, for instance, the business offers, give-aways, cash prizes and other invalid offers. These softwares then hack your gadgets and get full access to your information. They then use your personal details to blackmail you and steal more of your money. 

  1. Phishing 

Phishing is the most common form of attacking the investors. It is illicit activity, including stealing an individual’s personal and confidential data, including credit cards and passcodes. The stolen data can be then used for illegal and illegitimate actions and activities. 

For instance, if the identity of the victim is used in stealing money from the bank, it will cause uninvited trouble for the victims. 


  1. Fake Companies

The scammers email the investors as company representatives that do not even exist. This then causes investors to think that they are coming into contract with a company and do not expect fraud. However, a non-registered and ghost company is nothing but a fraud itself. The scammers make sure investors invest a big amount in return for a prize or profit share from the company. 

Moving On

Forex scammers use several tactics and tricks to trap investors in their actions. All their actions are mentioned by EzChargeback, who is working for a long time to expose and reveal the true color of the scammers their actions. It is difficult to identify the scam if you are not aware or do not have knowledge of how the scammers work.