简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:The biggest problem with forex trading that contributes to its constant conspiracies is a lack of transparency and unclear regulatory structures. Though there are forex brokers that run a legitimate business operations, there are also many forex brokers that are unregulated and are pyramid schemes in disguise.
The forex industry has gotten a bad reputation in recent years due to the mushrooming cases of forex scams by unreliable forex brokers.
Is forex trading a pyramid scheme? A straight-up answer is “no”.
However, pyramid schemes are commonly found in the world of currency trading.
Pyramid schemes are illegal in many countries. The reason is that only a handful of people who belong to the peak of the pyramid scheme can actually make money. They are constantly “recycling” the funds as new people are invited to join with new deposits. Some pyramid schemes last for a long time, but some unstable ones go bust fairly quickly. Therefore, it is not uncommon to see some newly established forex brokers go missing after just 1-2 years of being in business.
A pyramid scheme falls apart when the top ones are not making money, and not enough new funds are being pumped into the scheme.
One evident sign that allows you to distinguish if a forex broker could be a pyramid scheme, look at how it markets itself. If it tells its clients that they could also earn some money off referring and recruiting newcomers into the broker with deposits, it is highly probable that this is a pyramid scheme.
Don't be duped by promises of easy and “guaranteed” profits with no risk. Most importantly, never deposit any money unless you are confident you are dealing with a well-regulated online forex broker.
To do this, simply download the WikiFX mobile application and look up the broker of your choice before registering and depositing with them.
In summary, Forex trading is a legitimate form of investment, but it is not a one-way ticket to easy money.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Imagine you're driving from New York City to Philadelphia and want to know if your route is optimal, then you take two steps: Firstly, you gather the traffic records in the past five years, including traffic patterns, historic weather conditions, and holiday congestion records. Second, you run simulations of your proposed road to see if it is most efficient and fuel-saving before an actual trip.
The sudden arrest of former Philippine President Rodrigo Duterte on an International Criminal Court (ICC) warrant has sent shockwaves through global markets and regional investors alike. While Duterte’s arrest is being hailed by human rights groups as a decisive step toward accountability for his controversial “war on drugs,” it also raises significant questions about factors that can strongly influence the forex market.
Fintech – short for financial technology – is rapidly transforming the way people manage, invest, and even earn money. In this article, we’ll explore various ways fintech can help you make money, from smarter investing to launching a side hustle, while also reducing costs and boosting your financial health.
We are pleased to announce that WikiFX App Version 3.6.4 has officially been released. This update includes significant functional optimizations. Below are the key updates.