Foreign Exchange Fraud | Forex Training UK | Scoop.it

This is any trading method that is used to steal from traders where they are convinced that they will get very high profits after trading in the foreign exchange market. With the current improvement in technology, the rate of fraud has also increased globally though measures have been taken to stop these frauds.  Many of the foreign exchange traders have lost a lot of cash in the market where after some research which was done it was found that an individual can lose up to $15000. In the foreign exchange market one of the traders can loose and the other can significantly gain. Due to this there are some commissions and other transaction costs that are deducted from all the traders who have involved themselves in the market. For one to be an expert in this market, they can take a course in advanced forex trading at Forex Training UK, where they get to have all the skills required.

 

Types of forex fraud

Different types of frauds occurs in this market, these markets might include broking customer accounts in order to get commissions, making customers to believe that there is a software which can help them to gain more profits,  false advertising that might go together with improper managing of accounts, outright frauds. These frauds imposes a lot of risk in the market hence those who are involved in the market must look for ways to stop this.

 

According to U.S Commodity Futures Trading Commission, there has been a lot of increase in the rates of fraud which has been mostly affecting the no bank foreign exchange industry and due to this most firms are losing a lot in the foreign exchange market. There has also been an large increase in the retail forex over the past few years leading to the increase in the forex fraud. This has now brought some responsibilities to the banks whereby they are required to protect their customers from these acts of fraud that might lead to loss on cash.

 

If you want additional information, you can find some at this link http://www.forex-market-history.com/forex-the-facts-and.html or at this source http://en.wikipedia.org/wiki/Foreign_exchange_market or http://www.investorwords.com/2045/Forex.html , but maybe the best place for information is www.forextraining.co.uk.