geo
09-14-2010, 02:44 PM
As a service to our Forum members, and approved by a moderator:
The Foreign Exchange Market also goes by Forex, FX, or Currency Market. As reported by Michael Dunn of the U.S. Commodity Futures Trading Commission, currency trading (aka, forex market) "has become the fraud de jour" as of early 2008. What the Foreign Exchange Market does is trade currencies of the World. The Forex Market is a "zero-sum game" – meaning that whatever one trader gains, another looses, and brokerage commissions and transaction costs are subtracted from the results of all traders. So technically, the Forex Market is a "negative-sum" game.
There are several good "layman-oriented" sites that discuss Forex Scams and the legitimate Forex Market. Below are some Websites:
http://en.wikipedia.org/wiki/Forex_scam
http://en.wikipedia.org/wiki/Forex
http://www.cftc.gov/ConsumerProtection/FraudAwarenessPrevention/ForeignCurrencyTrading/index.htm
http://www.cftc.gov/opa/enf98/opaforexa15.htm (This is the "Commission Advisory – Beware of Foreign Currency Trading Frauds")
(NOTE: This post was written in response to a number of spam posts by "forex". As they appear on the Forum, they have been deleted. Festus2, Moderator)
The Foreign Exchange Market also goes by Forex, FX, or Currency Market. As reported by Michael Dunn of the U.S. Commodity Futures Trading Commission, currency trading (aka, forex market) "has become the fraud de jour" as of early 2008. What the Foreign Exchange Market does is trade currencies of the World. The Forex Market is a "zero-sum game" – meaning that whatever one trader gains, another looses, and brokerage commissions and transaction costs are subtracted from the results of all traders. So technically, the Forex Market is a "negative-sum" game.
There are several good "layman-oriented" sites that discuss Forex Scams and the legitimate Forex Market. Below are some Websites:
http://en.wikipedia.org/wiki/Forex_scam
http://en.wikipedia.org/wiki/Forex
http://www.cftc.gov/ConsumerProtection/FraudAwarenessPrevention/ForeignCurrencyTrading/index.htm
http://www.cftc.gov/opa/enf98/opaforexa15.htm (This is the "Commission Advisory – Beware of Foreign Currency Trading Frauds")
(NOTE: This post was written in response to a number of spam posts by "forex". As they appear on the Forum, they have been deleted. Festus2, Moderator)