The Truth About Forex Scams
What are Forex scams? Many people mistakenly think that any Forex product or trading system which does not make them instantly wealthy is a scam. These people do not want to put in any time or effort on their own part. They want a magical, get rich quick system ? well, there?s no such thing. If there was, we?d all be using it and of course, this system wouldn?t work for long. It?s just basic economics.
All that money has to come from somewhere. While the standard of living can be raised universally by technological developments and other innovations, all trading or any other economic activity where there is no value being produced is a zero-sum game. For one person to make money, someone else has to lose it.
It is true that in currency exchange, some of the bad prices are taken by people or institutions who either do not know or do not care. Businesses who import or export goods rarely bother to try to schedule their payments for a moment when the currency rates are favorable. People taking a vacation overseas are the same. Nevertheless, there are so many people and institutions in the 'pure' forex market these days that it is simply not possible for everybody to make money from forex trading.
Next time you?re trying to decide whether the negative comments you?re reading about a Forex product or system on web forums mean that it is really just another of the Forex scams, you should take a minute and think of how a scam operates in the offline world (remember that?).
Imagine you bought a book about forex from a bookstore, but the system described in it did not work for you. It might be that the methods in the book were out of date, or they might not be suitable for you for some reason. You would probably have learnt something, and you would just shrug and accept that wasn't the right system for you. You wouldn't go back into town and call the bookstore owner a scammer.
Let?s say that the bookstore had been hyping a new book which was about to come out and was urging every customer to pre-order. However, when everyone showed up at the bookstore on the release date only to find the store shuttered and the owners nowhere to be found, this would be a scam.
A scam is a completely fraudulent business activity which is created with the intention of swindling people. A scam is by definition illegal ? if a product or service is offered in good faith, it is not a scam.
People are naturally a little resistant to buy anything online, especially with the word scam being used so lightly. In many cases, it?s simply a customer who didn?t get the results they wanted trying to shift the blame to the product. While you may not want to buy these products, it would not be accurate to call them Forex scams. - 23223
All that money has to come from somewhere. While the standard of living can be raised universally by technological developments and other innovations, all trading or any other economic activity where there is no value being produced is a zero-sum game. For one person to make money, someone else has to lose it.
It is true that in currency exchange, some of the bad prices are taken by people or institutions who either do not know or do not care. Businesses who import or export goods rarely bother to try to schedule their payments for a moment when the currency rates are favorable. People taking a vacation overseas are the same. Nevertheless, there are so many people and institutions in the 'pure' forex market these days that it is simply not possible for everybody to make money from forex trading.
Next time you?re trying to decide whether the negative comments you?re reading about a Forex product or system on web forums mean that it is really just another of the Forex scams, you should take a minute and think of how a scam operates in the offline world (remember that?).
Imagine you bought a book about forex from a bookstore, but the system described in it did not work for you. It might be that the methods in the book were out of date, or they might not be suitable for you for some reason. You would probably have learnt something, and you would just shrug and accept that wasn't the right system for you. You wouldn't go back into town and call the bookstore owner a scammer.
Let?s say that the bookstore had been hyping a new book which was about to come out and was urging every customer to pre-order. However, when everyone showed up at the bookstore on the release date only to find the store shuttered and the owners nowhere to be found, this would be a scam.
A scam is a completely fraudulent business activity which is created with the intention of swindling people. A scam is by definition illegal ? if a product or service is offered in good faith, it is not a scam.
People are naturally a little resistant to buy anything online, especially with the word scam being used so lightly. In many cases, it?s simply a customer who didn?t get the results they wanted trying to shift the blame to the product. While you may not want to buy these products, it would not be accurate to call them Forex scams. - 23223
About the Author:
Author Jack Sawyer has some great advice on finding the greatest Forex Software. For more information on Forex Trading Online go to http://www.forex-product-review.com.
posted by X - Men @ 5:48 AM
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