It's time to remember or remind you of a scam in Forex, which has long become an old vintage joke. It is a reminder for an experienced trader and a lesson for beginners.
The essence of the scam is very simple - to put you on a broker's partner account and to get an affiliate compensation from your trading. Partner bonuses are such a thing that it is no matter for an affiliate: you win or lose; he gets his bonuses in any case. Affiliate compensation is accrued for both profitable and unprofitable transactions.
He has just a little left to do - to throw you a bone. The bone should be sweet and juicy, and it is always classic: “I found the Grail Forex! I give it away for free!”. Promo pages are created on the Internet, of a certain adviser who “makes a 100% profit”, it is available for download for free, and next to it, an unintentional instruction on how to open an account (by affiliate program, of course). You open an account, put an advisor, merge, an affiliate is going really good, depending on how many people he could pick up.
This scam is quite multifaceted. We began to notice that under the guise of open news trading with a broker, you are proposed the same “rotten eggs”. Here is the link, this broker works with the news: you open an account, merge, an affiliate is going really good, it does not matter for him if this broker still works with the news or not.
In fact, we have already told the story of the scam of one trustful trader, it is somewhat different, but a very similar one.
HISTORY OF SCAM OF ONE TRADER WITH BROKERS
One of our traders sent a small story, which is instructive enough and unpleasant for him. I did not want to tell, in order not to compromise myself, but I decided to share it in the form of a lesson. He sent it anonymously.
We would not publish this story, but this is not the first time.
It is about the following.
Oddly, traders find each other. You trade the news, I trade the news, word by word ... it starts talking about brokers.
“Trader-scammer” offers to exchange information.
“Trader-victim” agrees.
“Trader- scammer” asks in details about the success of trading with a particular broker: name, account type, how many times, lot, etc.
The scammer is also generous, talks about the broker, names, passwords, appearances, sometimes even tries to foist on the affiliate link.
Love act took place.
Only there is one snag.
The scammer says you about the merging broker, and while you learn about it, the scammer has already caught the fish in your place.
Be smart fishermen and hunters.
Do not become victims!