The forex army
Many brokers committed all kinds of fraud against forex traders to take their money away. Another common fraud was done by a large percentage of forex education and forex signals websites using deceptive advertising. The most common problem was that these sites would promise something attractive on a sales page and back it up with a refund policy. After a client bought the product and saw that what they received was inferior to what was promised to them, they would try ask for a refund.
These brokers and product sellers are the Forex Bastards out to get your money that Dmitri wanted to expose. Many companies still commit frauds like this now, but the percentage of them is much smaller than it was back in In November of , instead of just labeling the companies as SCAMs based on undocumented claims by traders, Dmitri decided to begin making scam investigations more consistent.
The mission was also expanded to help try to resolve issues between forex traders and forex companies, with the hope that some companies could be improved. Some were shut down by regulators. Others, Forex Peace Army only found out about after the company closed down.
Most of the rest went out of business because traders were warned to keep from sending money to them. Forex Peace Army now lists over forex websites. It is the largest and best collection of human-moderated forex reviews anywhere in the world. Forex Peace Army also has forums, featuring a large amount of educational material. The FPA is constantly striving to improve. The legitimacy of this organization has frequently been put into doubt and is predecessor to some other same functioning like scams in the past.
Before the latest incarnation of FPA, the operators have used numerous business names and web addresses. By searching forexpeacearmy felix scam on your search engine to learn more. This person has a reputation of blackmailing against developing companies while also providing brokerage services on the Forex market with the sale of unprofessional signals to currency traders.
He uses these swindling techniques to make easy money both ways. Trading foreign exchange carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.
They encourage only the worst and damningly detrimental reviews as part of their assault on unsuspecting and truly good FX companies. Essentially they run a blacklisting campaign against successful or reputable brokers. Subsequent to this they then offer to stop the attack only if money is paid to them.