Forex, the act of buying and selling currencies has been a rage in the modern world of financial exchanges and trades. Morgan Financial Recovery deals with a lot of forex scams that have been associated with Forex so far. So far, having recovered more than $3 million with over 2100+ clients across, we have a strong team of attorneys, lawyers and advisors who work 365 days all day all night long to bring back your funds right back to you.

The value of one currency is always compared to another currency and the trades are done in pairs. Having a high profitability margin, people are often lured into fake scam trades and these scammers then run away with the money. One needs to educate themselves in a proper way to deal with forex trades in a proper way.

Forex trades are controlled by the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA) in the United States. It is fully legitimate and authentic, however, our team at Morgan Financial Recovery has found out that some countries don’t allow Forex Trading at all. The business is a genuine one but owing to its complexity, it is often seen that a lot of young traders end up entwining themselves into some scam or other.

Our team at Morgan Financial Recovery has done proper research about the types of forex scams that exist and have listed to you some of the few.

Get Rich Quick Schemes

Morgan Financial Recovery clearly warns its customers to not get into any get rich quick schemes. These get rich quick schemes are nothing but schemes draped into get rich-poor schemes where the trader would do nothing but run away with your money once it has garnered his due minimum. Insane returns are not the case when it comes to forex as it is a zero-sum game. A zero-sum game is one which is if you are making a profit based on one currency, the person dealing with the other currency would be making a loss at the end of the day. Also after your trade is completed, you need to pay the due commission to your trader and then get your money into your bank account. The best way to prevent such schemes is to educate oneself as much as possible. If a forex scheme is offering high insane returns, it is better to stay away from it.

Pyramid and Ponzi Schemes

Though both being on the same page, however, everything is not true. There are certain brokers who take advantage of the inexperience of the traders and create forex bots and exchanges which enables it to be the frontrunner in a Ponzi Pyramid scheme. The team at Morgan Financial Recovery was quick to bust all the Pyramid and Ponzi Schemes that happen on a regular basis.

Both schemes work on a networking basis, where the commission is strictly based on the number of new members you can bring to the scheme. The more number of members he brings, the more will be his commission. While dealing with a product, when you find out that your earnings would be directly proportional to the number of new buyers you bring on the table, there is a high chance of it being a Ponzi Scheme dropped in the Pyramid fashion. The product has a manipulative nature and has a high chance of being a rigged one.

A lot of companies instead of promoting their schemes directly end up promoting it via social media platforms by saying that they have bots that have been designed with the help of artificial intelligence and they are promoting it to give high returns to trades in the long run. Morgan Financial Recovery clearly states that you should not invest in any bots that are promoting financial trades of such sorts to the public. The price fluctuations in forex depend upon a lot of factors like inflation rates, government debts, and terms of the trade when it comes to government scenario and others as well. If in such a situation, you think that a forex bot is going to do the job for you, then you are heading towards a major financial loss in the near future.

Research at Morgan Financial Recovery states that a lot of forex traders are indeed making a loss and when such advertisements of insane returns are promoted on social media, it is a clear indication that of a forex scam. Our team has always believed that a human mind is sharper than Artificial Intelligence and hence, we suggest you never use forex bots for your trade. Manual trading is the best trading practice in the long run.

Few other suggestions from our team at Morgan Financial Recovery include not trading with unregulated brokers with fake licenses can be easily purchased by paying a few thousand dollars and a fake phone number and office address.

Also, it is suggested to never buy in all the information that is provided on fake information sites where there is a lot of misinformation that’s going on a daily basis. Only buy in the information from legitimate websites that have been verified before they are published.

What to do when you lose your money?

No matter whatever precautions we take, sometimes losing money is not in our hands. In such a case, filing a complaint with the regulatory authority can be an option. A better option is to get the money recovered from our firm Morgan Financial Recovery.

We as a group are dedicated to helping clients recover funds from all across the globe. With a presence, secluded from the public eye (confidential agreements), and a top-class team of attorneys, bankers and private investigators, you can expect the best-in-class services from us without an iota of doubt. We do make sure that you sign a confidentiality agreement before we agree to work on your case so that all your information is sealed from top to bottom and our No Win No Fee guarantee will make sure that the money reaches you and then only we get our due credit.