Be aware of Forex scammers!

Today, quite often there are people who have suffered from forex scammers on the Forex market. As a rule, these are the traders – beginners or people who have no idea what Forex is but decided to quickly invest as much money as possible.

In this topic, I would like to draw your attention to the psychological tricks that forex scammers often use to attract naive customers.


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What is behind these psychological tricks, you may ask yourself. Let’s look at them in more detail.

Psychological tricks in this topic refers to certain manipulations that affect your consciousness, which is very often used by marketers, but even more so – the notorious fraudsters. The difference between the fraudulent manipulation of the marketing moves, lies only in the fact that the first trick is mainly aimed at to reduce our vigilance, and, of course, to climb into our wallet.

All the psychological impact starts with a simple phone call.

Someone called you, posing as an employee of a brokerage / dealing company with the offer to become their client. It seems nothing special about it. Many companies have Call-centers, whose staff work with customers directly through telephone communications. But there is one “NO!”, to which you should pay attention.

It’s one thing when you have a call from the company representatives with whom you’ve worked and / or leave your details, and quite another when you first hear about the company and never gave them your personal details. Of course, there are situations when the client base successfully migrates into the hands of another company, this time too, it is worth considering. But even here there are nuances.

Phone calls are made not once, not twice, but at regular intervals, and they persistently impose their services. This is a little “bell” to suspect that something is wrong. But because of our work, negligence, or credulity, most often, we do not pay attention this “bell”. Thus phone calls continue.

And what happens when over a certain period of time, someone always has something to offer and forex scammers nigeria/ or advice? Of course, in our mind we think: “Why not to try?”. That is what is intended, and this psychological trick is to make us have at least a small desire to work with this specific company. In this case, the perseverance of these forex scammers played a big role.


Other psychological techniques of forex scammers:

All the ways trying to convince us that their company is very best. Often in the scammers arsenal there are such expressions as:
“We have the most reliable company”
“We guarantee you a high return”
“Your deposits will be insured”
“The complete absence of risk”
“All your losses will be compensated in full”
“You will be in charge of the best traders / analysts’
“We are working on the most reliable and trusted signals”
“Here (reference is made to the source) you can see all the feedback from our customers”
“With all our customers, we conclude a treaty that will protect all your rights and interests”, etc.

Thus all these arguments sound very convincing, there are no usual warnings about the risks that exist in each real company. And the next thought that we have is “Why not invest money in this company because it promises high profitability and return of the investment. I can make good money with minimal risk, it is necessary to take this opportunity …”.

And now, because of the first two psychological tricks of forex scammers, you already are the client of some scam brokerage / dealing company.



It’s easy for any beginner in trading to be targeted and convinced by Forex scammers. But with proper reasearch you can eliminate the chances of falling prey to them. Keep your eyes and ears open and read reviews to find out about other traders’ experience with the company.


Wondering where to go from here? Take a look at our criteria for choosing the best Forex broker here in order to find out what you should be looking for when you are choosing a good broker.



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