Most people who’ve been in business for any length of time know that there are plenty of scams out there, but it can be easy to get caught up in all the hype. Forex scams are a common occurrence and can take many forms, including fake news stories, market manipulation websites, and fake surveys. Here’s an overview of forex scams so you’ll know what to look out for.
Forex Scams 101
1. Fake News: This is a common form of fraud that’s often found on sites that purport to analyze news stories and give users the ability to choose which stories get shown. In reality, they’re engaging in market manipulation and fake surveys.
2. Market Manipulation: This type of fraud involves manipulating the price of an asset by changing its value in a way that’s intended to make it appear like it’s rising or falling in value.
3. Fake Surveys: These are usually done through software programs known as web applications, many of which you’ll find on Google Play or Apple Store, but sometimes even on your own website!
4. Scams That Create Fear Based On Something You’ve Heard: These include “fake news” stories and other things such as “talking heads” videos where people are interviewed about something they’ve seen on social media, then asked how they feel about it. They don’t say whether they think it’s true or not; all they say is that they think so and want others to agree with them.
How to spot a scam
Scammers can take many different forms. The easiest way to spot a scam is by looking for the following characteristics:
1. A website that has a simple domain name, such as www.myfollowingpage.com: This type of site is easy to use and often provides helpful information that’s not available elsewhere on the internet, like an online forex demo account or a click-through rate (CTR) calculator.
What is the best way to protect yourself?
The best way to protect yourself from forex scams is never to give out personal information. You should always ask for a commission that reflects the value of your work. If you’re not getting paid enough, don’t send out more emails than you need to or push out any more social media updates than you’re needed.
You can also look at the money you’re being paid as a percentage of what it would cost in Bitcoin (BTC). This will help you determine if your earnings are high enough to be worth the extra work involved in keeping your digital presence up-to-date.
What are some examples of forex scams?
A forex scam is an attempt to make you think that a certain currency can be sold for a higher than the actual amount at an exchange. This could be done through software programs, online ads, or even just by word of mouth.
To avoid falling victims to a forex scam, here are some key things to look out for…
Be aware that the fee is high and can come as high as 0.5% of your total purchase price.
The transaction may happen instantly as instant purchases.
If one of these types of transactions occurs, the seller may have hidden fees associated with it that could cost you an arm and a leg (or more).
In addition to the free money offered in exchange for buying forex, there is also the chance that this fake currency may be counterfeit or fake from the beginning. This can add up quickly if you’re not careful.
Fake News Stories
The fake news phenomenon has become a huge problem in recent years. Fake news stories can easily be crafted to trigger emotions in people and get them to share them.
Fake news stories are often similar to the real ones, but the language used is different enough that it is easy for anyone to understand what’s being said.
The goal of this type of fake news story is twofold:
It grabs attention. It takes you out of the moment and makes you believe what’s being said might actually be true. This can cause people to share or embed it on social media, which helps drive traffic and leads to sales.
It provides an excuse for poor performance or a lack of success. If your business doesn’t do well, you can use a fake news story as an excuse for failing—and then blame it on something else, like bad weather or competition from another business.
Faux surveys are one type of scam. They are meant to make you believe that they can help you save money and get ahead in your business. A common example of a fake survey is the “free” AdSense ads that appear on Google’s search engine pages. These ads are designed to trick people into spending money by making them think that they’ve just been signed up for free Internet advertising.
Fake surveys can also be found on social media or Facebook. You may have seen a “Survey Monkeys” ad targeting potential customers who have recently joined Facebook or Twitter accounts. The ad asks the user to take a survey and then offers them the opportunity to earn money by sharing their responses with others online.
You’ll notice that there is no exchange rate shown anywhere on the page, which makes users feel as though they’re really earning something valuable when they do so.
One of a forex scam’s most common features is being featured prominently in popular news sites, such as Yahoo Finance, Reuters, and CNBC. This makes it look like there has been significant investment made into promoting this type of scam to lead people to believe that it’s effective and worth paying for — even if it isn’t!