Well not all. However Some Forex Account Managers are Scam, especially the ones you meet online.
Managing Forex accounts is mostly for Forex experts.
All they will tell you is to give them your hard earned money and they trade it for you.
They then give you a certain percentage on the returns.
Surely there are legit professional money managers but most of these you meet online begging to manage your capital are mostly scams.
Are Forex account managers scam?
Well, Not all Forex account managers are Scam. However some are.
Most Online Forex Account Managers are scam because they can easily hide their identity.
It won’t be easy for you to spot them after all, they will not just admit that they are scammers. That’s why you must learn to avoid them.
Before you trust your money with anybody, first do enough research and due diligence. It is difficult to predict the reliability of that person
so, Must you stay away from account managers?
Answer is No!. Just be careful. Do your Research and due diligence where necessary.
By now, you should get it. Only invest what you can afford to lose.
So don’t just throw away your money anyhow!
First, there is no such a thing in Forex trading like get rich-quick scheme.
Like we earlier mentioned, Forex business requires discipline, patience and practice. It is a very risky venture when you don’t have those qualities.
A one night jackpot does not exist in Forex trading. It does not work as a one night stand. It is a process.
Therefore if someone or a company is promising to manage for you your Forex account and make for you 100% return every day or every week.
That’s a trap. Just run away when you still have time to amend your decision. That is a scam
The individual promising you a high return in a short period is likely to expose your account to much risk to meet your expectations.
You don’t wanna hear my answer. Pheew! The account will be blown and all your money gone in a short time .
Anyways I don’t mean to scare you, I intend to warn you if you haven’t fallen a victim already..
Conversely,take your time to learn, practice and trade on your own.
And Yes, some if not most Forex account managers are scam.
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