Everyone has heard about how forex trading involves a lot of risk. However, few realize exactly how much risk there really is for the retail forex trader. The industry is full of scams:
- Brokers who set up their services to put retail traders at an unfair disadvantage
- Trading systems, schemes and educational materials that don't work
- Industry hype that tries to mislead retail traders into thinking that forex trading is easier than it really is
Few of these scams are subject to government regulation the way that stock trading is. However, forex brokers in many parts of the world are subject to regulation. Further, there are many regulatory violations that have been committed by forex brokers.
The purpose of this site is to:
- Expose the types of forex scams that can cost you money
- Advise you of regulatory action that has been taken against forex brokers who break the rules
- Provide forex broker reviews based on how well the brokers have complied with forex regulation
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