What are forex scams ?

A forex (or foreign exchange) scam is trading schemes used to defraud traders by convincing that they can expect to gain a high profit by trading in the foreign exchange market.

Forex scams attract customers with sophisticated-sounding offers placed in newspaper advertisements or on Internet sites.
For a simple example, investors may be assured of reaping thousands of dollars in just a few weeks or months, with an initial investment of only $1,000.The investor’s money is never actually placed in the market through a legitimate dealer, but simply used for the personal benefit of the con artists.