For many people, the Spring Festival is a small holiday for family reunion, and whether they can afford to go home for the New Year is also a tradition and habit engraved in the bones of Chinese people for thousands of years. In this festival, we not only do not have to worry about work, but also can spend more time to accompany family or meet with three or two friends to eat, drink and play. However, for individual investors in the currency market, there is no Chinese New Year holiday for trading; For those fraud black platforms, the Spring Festival holiday is the easiest and most active period, so everyone should strengthen the awareness of fraud prevention while trading during the Spring Festival holiday.

Of course, anti-fraud needs to start from understanding the scam, for this reason, Tianyan Jun has specially prepared a foreign exchange black platform anti-fraud guide to help everyone stay away from the scam during the Spring Festival holiday!

Five typical Forex trading scams

First, foreign exchange black platform fraud

At present, the most popular trading platform in the foreign exchange market is MT4/MT5, but because the legitimate software is relatively expensive, in order to save its cost, the black platform directly uses the cracked MT4/MT5 and rents cheap servers to build a false foreign exchange platform, and then pretends to help investors make money in foreign exchange speculation. Defraud investors' trust through false profit certificates and words such as "a big profit" and "a steady profit without loss".

After investors make an account deposit, since MT4/MT5 allows brokers to freely set the spread and stop loss points, these black platforms will use their functions to operate the ups and downs, so that investors first gain benefits, and further induce investors to invest more funds, and then manipulate the background data to make investors lose money, and charge transaction fees. However, in the later stage, these platforms will basically suddenly appear unable to land, the platform is closed, and the person in charge will disappear without a trace...

2. Virtual currency scam

Using this scam, Tianye Jun has mentioned in many previous exposed cases that although virtual currency is a product of The Times with the rapid development of the global Internet in recent years, there are still many investors who do not understand virtual currency. Because of this, scammers often trick victims with currencies that don't exist or are no longer in circulation.

For example, the classic "Peruvian currency" scam says that the currency can be exchanged for high RMB, but it will charge fees, deposits and other fees when exchanging, and then the scammers disappear. There are also the Euro billion OYI funds scam we mentioned before and so on.

3. Margin fraud

This scam is generally under the pretext of illegal foreign exchange platforms, the use of leverage principle to small big, and then preach their own platform is "high leverage and high yield", these illegal platforms will generally set the margin ratio of 1%, that is, 100 times leverage, that is, investors as long as 10 dollars, they can operate $1,000 transactions. Until the account reaches the stop loss line, the user's margin will be forced to zero, and investors will need to pay a margin to continue trading if they want to continue.

Fourth, the customer trading scam

This kind of scam is the use of ordinary investors do not understand foreign exchange, do not have enough time and energy trading and other weaknesses, with 100% guaranteed profit, professional teachers to operate on behalf of the hype to deceive investors, once we will provide their account password to the agent to operate, the account is either lost within a few days, or is the agent completely lost contact. Investors lost their money.

5. Foreign exchange calling scam

Calling scam is a type of scam that appears more frequently in recent years. Scammers will approach investors in some stock groups, futures groups and other QQ groups, wechat groups, as analysts, teachers, mentors, etc., win trust, invite investors to the false platform to speculate on foreign exchange, and then shout single belt investment in the name of professional traders, mentors, etc.

And in the foreign exchange group with internal personnel pretending to be customers, create the illusion of rapid profit speculation foreign exchange, gradually eliminate the victim's concerns; First let the investor taste some sweetness, and then induce him to increase investment and introduce relatives and friends into the partnership, pull the head distribution and so on.

These black platforms are generally artificially set the probability of victory or defeat, increasing the probability of investors losing money. When investors make profits, they put up barriers to prevent investors from withdrawing cash. Even when the investor transfers a large amount of funds, it even directly seals, freezes, and deletes the victim platform account, and directly illegally occupies the victim's funds.

How to prevent Forex trading scam?

First, beware of illegal platforms

If you want to distinguish the foreign exchange black platform, check the regulatory qualification, check the year of establishment, and check the background of the company. Many foreign exchange platforms rent foreign servers and licenses, which are not formal in China. Before conducting foreign exchange transactions, it is necessary to verify whether the platform has been approved by the competent department of the financial industry, whether it has been filed by the competent department of telecommunications, and whether there is an ICP operating certificate. If the regulators of some platforms are in unknown regions abroad, they can basically be determined to be liars.

Second, beware of sugar-coated shells

There are thousands of fraud methods, but all the same. The reason why many scams have led to the loss of countless people and others have continued to follow is because the bait above the abyss is really seductive. These sugar-coated shells are often hung with the signs of "a large profit", "capital and interest guarantee" and "steady profit", and even use rice and flour oil and salt to attract feelings, weaving a dream of wealth for investors, as if overnight wealth is within reach. However, there is no pie in the sky. Don't lose your mind because of the liar's boast and small favors.

In short, I hope that all investors strengthen their learning, improve the vigilance of foreign exchange trading, before choosing investment and financial management must sharpen their eyes, refuse the temptation of high interest, remember not to be carried away by high returns, and protect their money bags.