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  1. #1
    Master Member SeasaltMcFish's Avatar

    Recognizing a Scammer !!!

    Recognizing a Scammer.

    This thread is dedicated to avoid being scammed in trading. Pleas add your own experiences and advice! I will add good advices to this list later.

    How can you recognize a Scam?

    There are several signals that can warn you about a possible scam. It doesn’t say every signal automatically points at a scam (sometimes it's just not knowing it looks like a scam), but it can be a warning sign.

    1. Someone is posting all over the forum with a promise of success and profit. This is mostly sign of a scam or at least someone who is trying to collect affiliate money by letting you register to a certain broker through his link.

    2. Extreme positive feedback about a broker, software or signal service. It’s mostly a way of advertizing and can be done by fake persons or hired writers. It’s not a real scam, but it’s also not a decent way of advertizing. You should ask yourself: why would a trusted company use such advertizing methods.

    3. People who want you to Skype or email them are mostly after your money. Why would someone want you to mail or Skype them, while offering help? That doesn’t sound logical at all. There’s a snake in the grass and I guess they will try to lure you with smooth talking into investing money or registering to a certain broker or signal service. An honest company will always be open about intentions and will not hide behind an email or Skype address. People who really want to help you will give it for free, like here on BOTS.

    4. Showing off with extreme profits can also be a sign. There’s nothing wrong with showing how good your trades run, but as soon as there’s a link or Skype/email address added (also when added to the profile!), you can assume there’s something wrong in the Kingdom of Denmark. Don’t let yourself get lured in to some scam or binding bonus by listening to the smooth talk.

    5. Someone is trying to sell you software, a system or something related. This doesn't have to be a scam, but as soon as they try to avoid forum rules about advertizing or start promising golden mountains, you should wonder why they do that.
    Maybe he just missed the rules and accept correction by moderators. In that case there doesn't need to be a problem. After all we are here to help. But always ask yourself this question: Why would someone sell something that guarantees money when using it themselves? So if the advertizing is about golden mountains, think about that question I just asked. It may save you a lot of money!

    6. The Bonus Scam
    Although a Bonus is not always a scam (there are good ones too), it's a tricky business. Money is not for free! Period! There's always some reason to offer you money. Many times a bonus can be used to tie you to a certain platform. If you don't read the Terms & Conditions of the bonus very, very well, you're in a big danger of being trapped!

    A good broker will offer you a bonus with the possibility to give it up if you want to and will always give you the opportunity to withdraw your money (forfeiting the bonus). However, many platforms offer you a bonus (like 100% guaranteed free first trade, 100% on your deposit, 5 free trades etc...) that tie you to a platform. I want to go into the bonus conditions itself in a later stage. For now: always read the terms & conditions and always remember: money is never free!

    I’m going to post more, but its above 40 degrees in my office, so I’ll add that later
    Last edited by SeasaltMcFish; 07-05-2015 at 10:33 AM.

  2. Thanks Martin Kay, Pinayito thanked this post
  3. #2
    Moderator Kolyo's Avatar
    Wow, that’s really hot! Here it is 28 degree and I am already feeling bad If I am in your office maybe I will be dead in few minutes haha

    The statements you presented here are very right and most probably they are sure signs of scammers. We are not against all commercial participants in the forum. We are just against people who disregard our forum rules and who seems to offer really scam and offers all over the forum. We have a clear rules where to place promotional offers and how to advertise them. It is not prohibited and it is free, but you need to read the rule first or ask moderators if necessary and advertise after that. Otherwise users disregarding these rules are banned without warning!
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  4. Thanks Pinayito thanked this post
  5. #3
    Legendry Member Michael Hodges's Avatar
    THese are some pretty good tips, sounds like the voice of experience to me... just what the forums are for.

  6. Thanks Pinayito thanked this post
  7. #4
    Master Member SeasaltMcFish's Avatar
    Thanks folks!

  8. #5
    Master Member SeasaltMcFish's Avatar
    Added a new line (about bonus)

  9. #6
    Legendry Member Michael Hodges's Avatar
    Yeah, often times the scammers will use bonuses from the brokers to lure you in, repackage them into something that looks like its from them and not the broker,

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