Forex Scams

Forex Scams

Are you investing in Forex or Scam?

Welcome back, if you are here for the first time, I am happy to have you here. Ok before I can start saying too much, let me first give you a little background of my online “investments”. I was that girl who was forever curious about anything that happens online, a fast learner too.

How I unknowingly got involved in some scam

Anyway I have a sister (older sister) whom I dearly love and I was always following her wherever she went. She used to hang out with her network marketing friends in Jo’burg (they had an office there). I used to go with her when I had time and I ended up joining the “investment” programs that they were doing online.

I was always assisting her to register new sign ups (her down lines). I ended up joining and I truly believed we were investing and changing our financial future ( little did I know I was getting myself into trouble). Being as curious as I was, I saw an opportunity to become one of the representatives for that company.

I had to ask friends before writing this post to remind me of the name of the company, It was Reprofinance, very nice name I must say and not to mention the professionalism on their website, it was on another level (smiling as I write this).

How I maximized my earnings

I started promoting the “investment”, recruited others and got paid some commission for recruiting. The more I recruited, the more I got paid and the more people joined because they were seeing me getting paid daily. At some point I had so many referrals and I was not even recruiting anymore as I was a sales rep and people would find my contact on the company’s website and they would contact me to join and  I was getting paid daily, I mean  daily.

I was on top of my game, so I thought

I knew all there was to know about getting e-currencies for the new sign ups and  I was on top of my game. I really believed the claims on the website that money was traded by the company’s experts  and that is where our daily earnings came from. I can’t remember the amount we were paid daily, but hey they were paying and we were very happy.

I also joined another one called Macrotrade at the time and  I was about to apply to become a representative there as well, they also claimed to be trading the funds. I believed them as the name was even suggesting that they were trading. I was naive  and so are many people today who are still falling for these Forex scams. Now that I know what is Forex trading, I can bet my last coin that anything that resembles what  I have mentioned above, is definitely a Scam. Be warned and stay away.

They say every mishap is a lesson.I learned mine OK, but I got to know some really lovely people through those scams. We lost money together and we became good friends, maybe I was there just so the universe could connect me to those people.

What is HYIP investment?

Definition by Google: A high-yield investment program (HYIP) is a type of Ponzi scheme, an investment scam that promises unsustainably high return on investment by paying previous investors with the money invested by new investors. Most of these scams work from anonymous offshore bases which make them hard to track down.

Ok, I have already told you my story, but there is more. I got paid and I was rolling in dollars, I knew “everything” there was to know about the “investment” except that I was being lied to and I did not see it for a long time. To cut the story short, It ended badly. One day I woke up as usual to check my “investment” and boom!! the website was gone, at first I thought it could be some issues with their server or something, and the next thing the domain was on sale and it was over, the site was no more and all the money was gone.

What happened next?

People all over the net were panicking. I had new people who had just joined the previous day and it was really bad. I had to explain what happened and I didn’t know what happened, both programs collapsed almost at the same time. Relationships were ruined.

I know people who “invested” R50k+ in those”investments” and they lost it all. I know families who were left broken by the losses and I vowed to never get involved in such ever again. There are lots of them going on online and they all claim to be trading the funds, take it from me, I know how they work and their lifespan is limited.

They pay and sooner than you think, they vanish and you are left penniless, be wise, those programs are plain Ponzi schemes hiding behind Forex trading umbrella and the owners are very smart they make sure they get the domain that has words like Forex, trade and so forth to lure you into joining their scheme.

They have their target and once they reach it, they vanish into thin air. They are all scams and what they do has nothing to do with Forex trading. If you happen to belong to one, just know that you are not trading but participating in a Ponzi scheme which will collapse anytime soon and leave you dry. Most people do not really care much about that as long as they are not the one’s who are left dry and bankrupt. Forex trading or any other real investment does not promise guaranteed returns because everything is controlled by the market’s conditions.

How long does a HYIP investment last?

I have seen some running for like 600+ days and some people would always say that it is better to catch them while they are still new. I guess they always know it is going to end soon but they simply ignore the fact that someone is going to lose everything while others are going to be smiling all the way to the bank.

How long does Forex last?

With Forex trading, there is no life span. Forex market is not going anywhere as long as there are still currencies to be  exchanged. With Forex trading you actually put some effort in learning the skill and you are doing all that legally  with a help of regulated Forex brokers. Check out all the FSB regulated Forex brokers that I recommend HERE to make sure that your trading activity is legal and you are not going to wake up one morning and find out that your broker’s website is no more. Forex trading is legal in South Africa and many other countries.

Should you need to setup your live account, Whatsapp me on +27 76 966 9392 or +27 64 510 4132. You can also check out my Private Mentorship program. I really wish I had this information few years ago.  If you decide today to get involved, it will be  purely out of your choice and not out of lack of information. Thank you for stopping by and I hope you found this post valuable. Please be kind enough to share this post with your friends or social media groups.

Tags: No tags
0

3 Responses

Add a Comment

Your email address will not be published. Required fields are marked *