If you want a detailed article on Forex Scams, just read that article where I reveal 6 tips that will help you stay away from scams!
I am sure you receive daily emails on how to turn $1000 into $32,456 in one month or so. You get these everyday, and not just on Forex. But since we deal with Forex, Forex related emails are what interest us.
Just few days ago (26th August) I got one of these daily emails where this time we have a scalping robot that made 95K in 12 months. How this guy got my email I don’t know, but I love receiving these emails so I have something to write in here. 
Anyway, as usual we have a story how a guy ridden with debt have written this robot and now his life is sorted. The usual stuff. Then we move on to results. As usual we get screen shots of back tests and these mean nothing. Just be aware that data on which the robot is tested to produce those phenomenal results can be easily manipulated. So do not believe these results at all.
Further down we see that the robot does not set any stop losses which is another big bad point.
Now the funny thing. It shows results starting with 0.1 lots and it says that after 7 days the robot was trading with 5.0 which is freaking impossible. The account stood at $39,746.48. Yes the 48c are important as if they are going to make any difference. The starting capital was $389.78. Are you noticing something fishy here even if you are not a trader you should smell something fishy here.
At the first of the page, it says that a newbie made $95,000 in 1 year, but the results are showing that he did nearly $40000 on 1 week! WOW! A clear inconsistency with the initial claim ($95,000 in 1 year) and the results (made nearly $45,000 in 7 days). Pure lie. Will you continue to believe this idiot?
No way – this is purely a scam.
Please be careful out there.
If you are a beginner and you want to learn the basics of Forex Trading or you want to learn the core of Technical Analysis with detailed examples please visit the Forex Trading Courses page. You will find huge amount of valuable information and video tutorials worth thousands of dollars if you had to purchase expensive courses, and now you can have them all for FREE. See you there.
