The forex market (fx) is the world’s largest trading market,
dwarfing the stock exchange in size with nearly us$5 trillion
traded daily. The market is open 24 hours a day, when trading
closes in new york it starts again in tokyo and hong kong.
Currencies are always traded in pairs, for example, the us$ with
the uk£ or the us$ with the euro. with constant price
fluctuations, this tumultuous market can make institutions,
companies and some individuals a lot of money.
Forex fraud is a growing problem. It can be found everywhere from
boiler room scam artists, to some guy you met at the coffee shop
the other day, even past trusted brokers and executives have been
involved in forex scams. The most common victims are the ones who
think it will never happen to them.
Though there is no guaranteed way to avoid forex fraud, it is
still possible to trade, minimize the chance of becoming a victim
of a forex scam, and prosper in the forex market providing you
remain diligent and alert in every decision you make. Don’t let
your hard-earned money become an easy target for some forex
scammer, make sure any person you choose to do business with is
duly regulated in the country they operate from.
People under 25 are falling in droves for the lavish payouts
promised by rudimentary instagram scams. Until recently, older
people (those over 50 and in retirement) were considered to be
most vulnerable to various scams perpetrated online. It makes
perfect sense: A generation not particularly well-versed in the
ways of this new online world would indeed be expected to fare
poorly when faced with its challenges.
All that is apparently a thing of the past now. Those who
currently make up the over-55 age-category, have grown somewhat
immune to the tricks of the online scammers. The young adult
category has become the preferred target of shady online
operators, and yes, that means you too. These days, young people
on facebook, instagram, youtube, and the likes, are the most
likely to fall for get-rich-quick schemes, even if these schemes
are rudimentary and lack any kind of credibility, even at first
glance.
The scammers start out by setting up instagram accounts. To the
expert eye, these accounts are very easy to spot and they do tend
to be mostly alike. They feature pictures of attractive young
people, posing in front of expensive mansions and cars while
holding up wads of cash – as if saying: This could be you!
accounts featuring attractive young women tend to draw noticeably
more followers for obvious reasons. There are also plenty of such
scam accounts featuring the alleged profiles of attractive young
men too. The scammers do not want to leave any demographic group
uncovered and since they are sort of saying “this could be you”,
they need characters their targeted people can identify with.