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Abstract:Stay alert to the omens for the failure of pyramid schemes in a bid to protect you from scams!
A pyramid scheme in the forex market is a fraudulent system of making money based on profits provided by later investors. Fortunes gained by initial promoters are lost by later traders. Therefore, WikiFX has concluded omens for the failure of these schemes in a bid to protect you from scams!
1. A server with low capacity rented by a forex platform causes inaccessible websites or the slow speed of the network, which indicates that the forex broker intends to swindle traders out of profits fast and shut down its website at any time before running away!
2. Rumours relating to the possible meltdown of a forex platform start to circulate on the Internet.
3. Withdrawals become unavailable or delayed.
4. A forex platform increases its threshold amount and tightens up the performance assessment of its users, in order to require them to recruit more investors and profit from the recruitment. Reaping profits as many as possible is the first thing a forex broker will do before running away!
Two types of traders are the most vulnerable to pyramid schemes. The first comprises people fooled by false prosperity. Experienced investors making up the second one have a clear understanding of pyramid schemes and think that the earlier they are involved, the more they will earn. They want to be early-bird, gaining profits and leaving losses to later investors. However, the timing of pyramid schemes is difficult to decide that can cause them a total failure if it is wrong!
No one can predict when cunning swindlers will run away. Hence, please trade via regulated forex platforms and stay alert to blandishments from pyramid schemes!
As a reminder, WikiFX is ready to help you search the qualifications and reputation of forex platforms in a bid to protect you from hidden dangers in this risky industry! (bit.ly/wikifxIN)
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
A speechless situation has crashed into Ms. Chen recently where she was cheated by pig-butchering scams three times in succession within only a few months.
Big data brings benefits to our daily life, such as online investment and forex trading. However, open network also brings threats to personal property.