Foreign Exchange Fraud
Foreign exchange frauds are the fake promises which scammers make to the traders to obtain their money. Once they receive the money, they flee immediately. The forex market trades more than 7 trillion dollars daily which is why it has attracted the attention of scammers. Due to its fame, it is easier for scammers to attract people and lure them to deposit money in pursuit of earning unrealistic profit margins.
Due to strict regulations, many popular scams have now stopped but more scams have taken their place with new strategies and traps. For example, the once-famous point-spread forex scam is controlled now thanks to tight regulations. But still, you should be completely vigilant because other scams are still happening and many traders get scammed daily. The common scams nowadays include Signal-seller scams and Robot Scamming.
In signal-seller scams, fraudsters pose themselves as highly experienced traders and provide tips to traders about upcoming ups and downs in the currency market. They show false testimonials and reviews to attract more people. This type of scammer disappears right after the money gets deposited in their accounts.
Robot scamming is a new type of scam in which the platforms generate automated trades that continue without any human influence 24 hours a day. This process is fully automated but these systems are not yet tested by independent sources so you should avoid them.
Other than these scams, you should avoid trading platforms that charge more than the usual fee. Even good trading platforms charge a few hundred dollars so you should be aware of this scam as well.
If you think you cannot distinguish between a scam and a real offer then you should take help from Claim-Justice. Claim-Justice is a funds recovery company that has been in this market for a long time now. We have earned a good name by providing recovery as well as beforehand consultation services to traders who lack experience. By contacting us, you will come at ease because we will guide you in the best possible way and you will feel a sense of satisfaction.