Over 3 Trillion Dollars is traded daily over the counter on the Forex currency market and it’s no wonder that there are over 400 online trading systems to help people at home trade this market. Unfortunately only a handful come with “TEETH”.
The Forex Macro has been labeled a scam by a number of individuals on the Forex forums for a number of reasons.
One: There communication has been reported as non-existent. To gain some insight into there trading platform a number of people reported posting emails to them regarding their interest in this program requesting who their brokers were and the nature of their accounts. Unfortunately reply’s were scarce.
Two: There site is listed on Talkgold.com. This is the Mecca of affiliate advertising, a HYIP site or – Ponzi scheme – as they’re known. Not that this puts them in any bad light as such as many products market their system through affiliates but it suggests they are happy to accept many non-professional advertisers to offer credit to their program – albeit makeshift.
Three: And this is where the Forex Macro has really been labeled as a scam, is it’s marketing campaign which purports automatic scalping with no knowledge at all.
Many first time traders have become disillusioned with this as there initial investment of say $50 has been swallowed up in a matter of seconds due to the margins they set up.
It takes seasoned traders at least a couple of years to become accustomed to certain currency pairs and even then nothing is written in stone. Inputting your margins is one of the most skilled parts of Forex trading and without this knowledge you will simply be throwing money away.
That’s why, as stated above there are just a handful of “Decent” Trading platform’s which offer you
- Expert Metatraders with over 10 years experience to input these margins for you.
- They also offer you the tools to observe the most popular trades, the most successful currency pairs being traded and calculate full proof profit scenarios.
- Only when you have these strategies in place should you then start using your own complex algorithm software which will then trade automatically for you.
To label Forex Macro as a scam maybe a little too harsh but I would say all the warning signs are there.
Source by Rob R Carmichael