DislikeTrading (MT4) Scammers, Gurus, Publishers, Advertisers, Paid Courses, Signal Providers, Chat Rooms

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Trading (MT4) Scammers, Gurus, Publishers, Advertisers, Paid Courses, Signal Providers, Chat Rooms Hi,

I would like to draw your attention to this.

People are STILL believing 'Trading Gurus' in the face of this.

Not only have we seen the study that 97% of people day trading on stocks in Brasil lost money, those that did only earned a pittance. No one (97% or more) 'trading' retail naked is making money - that is a fact. It is akin to Las Vegas at retail level. People need to be educated to this fact.

The broker stats saying 78% of people lose money is fabricated nonsense.

It is high time the Trading Forums, Facebook, Instagram and Twitter clamped down on letting these people promote without recourse - they can only do it with your help.

Please share the hell out of these videos and help make this whole 'trading community' better. At present it isn't a community. It is a safe space for people who have zero skin in the game and zero ability to actually trade to make huge profits - some of these people are making $16,000 a month running Discord Chat rooms alone.

Some 'Trading' Forums are absolutely terrible in recognising and dealing with scammers.

I am afraid to state that most people coming in to "trading" wouldn't know a scam if it slapped them round the face with a wet fish, all day, until Christmas. When people have $$$ signs in their eyes they are in a different world and will beleive anything the Paid Course Leader pied piper will say.

At this level, especially in Forex it is just gambling. Crypto is the new Gold Rush with scams everywhere.

In the UK - The police are nowhere. Action Fraud are not recording and responding to crimes (documented fact) accurately nor timely nor is actual trained Police looking at your complaint.

The FCA will only look at registered firm so it is open season for Scammers, Gurus, Publishers, Advertisers, Paid Courses, Signal Providers, Chat Rooms (Discord).

What a mess.
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Re: Trading (MT4) Scammers, Gurus, Publishers, Advertisers, Paid Courses, Signal Providers, Chat Rooms

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francisfinley stimpy wrote: Mon Sep 30, 2019 4:17 am What a mess.
Yep. As a rule of thumb, never trust these "signal" services (especially ones with the cheesy names and mobile MT4 screenshots :lol: ).

The classic "Instagram wannabe traders"


Just look at that pic. It's got a homosexual flag (nothing to do with trading) and the old "guaranteed" word. Cringe.

Luckily this forum is not greedy and "broker biased" unlike 99% of the others out there.
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Re: Trading (MT4) Scammers, Gurus, Publishers, Advertisers, Paid Courses, Signal Providers, Chat Rooms

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The official regulator statistics are that about 63% of Forex traders lose money, which in my opinion, is already pretty bad.
That said, I am generally very distrustful of trading gurus and their paid courses. The simple logic is this - if they were that good at trading, they would be raking in the cash from their own trading, they wouldn't spend the time and the effort "teaching" others for profit.


DislikeRe: Trading (MT4) Scammers, Gurus, Publishers, Advertisers, Paid Courses, Signal Providers, Chat Rooms

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francisfinley stimpy wrote: Mon Sep 30, 2019 4:17 am Trading (MT4) Scammers, Gurus, Publishers, Advertisers, Paid Courses, Signal Providers, Chat Rooms
The videos above were taken off youtube after a complaint by metaquotes claiming copyright infringement. Going by the date I think I know what they were.
The guy who posted them on youtube uploaded one to DTube (link below) when he found youtube had taken them down.

He is telling the story of disconnected mt4 broker servers that you can pay to log onto and create a fake 'Live' broker account which you can load with fake trades and scam people selling them a signals service, mentoring or whatever.

It's not the brokers who are scamming but they rent access to the servers to others who then sub let to people who make fake accounts that are stamped as a live account with a genuine broker. Sounds ridiculous I know but is all true.
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Re: Trading (MT4) Scammers, Gurus, Publishers, Advertisers, Paid Courses, Signal Providers, Chat Rooms

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Ogee wrote: Thu Dec 26, 2019 11:51 pm

The videos above were taken off youtube after a complaint by metaquotes claiming copyright infringement. Going by the date I think I know what they were.
The guy who posted them on youtube uploaded one to DTube (link below) when he found youtube had taken them down.

He is telling the story of disconnected mt4 broker servers that you can pay to log onto and create a fake 'Live' broker account which you can load with fake trades and scam people selling them a signals service, mentoring or whatever.

It's not the brokers who are scamming but they rent access to the servers to others who then sub let to people who make fake accounts that are stamped as a live account with a genuine broker. Sounds ridiculous I know but is all true.

Yep its all true.

The reality is less than 0.01% of people trading forex actually make consistent money.

The fact that metaquotes actually went and got the video shut down also shows you they are in on the giant retail casino.

People say forex is a scam, close, but its just a very well engineered casino. The fact metaquotes is actively shutting down the highlighting of scammers should scare the sh*t out of you.
I have posted this same content on every major forum so people should share it everywhere.

Its about time all this information was made public that retail trading is just a casino and no one wins. Its not 95% lose, its 99.9% lose.
People should call out the instagram/twitter/facebook/forum gurus but these platforms act as a sales platform sucking new entrants in every day.

Everyone on the forums, fintwit (twitter), instagram, discord, telegram claiming they are making thousands are lying. They are all publishers, book sellers, marketers, signal providers etc etc.

ICT, VP from no nonsense forex etc etc - they are simply publishers, scooping money from noobs via mentoring or sponsorship/kick back deals from brokers. Its just a microcosm of how the city of London works. Very few people make money trading properietary - most of the money made is off services from the markets - broking & sales, research, training and publishing NOT prop trading.

'Those who can't, teach' - it is far more lucrative and risk free to become and educator in forex/crypto/equities than it is to be a consistently profitable trader.

If someone claiming they can trade cannot show you indpendently verfiable statements for the past 5 years they are talking rubbish - NOT via MT4 which can be gamed (or myfxbook which can be gamed), i.e. on a broker running own book like Darwinex or something like
Ask anyone for even a indpendently verfiable statements for the past 6 months and nearly all of them cannot present one.

If you consider the gravity of what is put here - that literally nothing off MT4 is genuine you will now understand nearly all of forex is just make believe.

IdeaRe: Trading (MT4) Scammers, Gurus, Publishers, Advertisers, Paid Courses, Signal Providers, Chat Rooms

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So guys, let's continue this discussion, always be on your alerts about who is offering what.
  • Beware of any trader or company offering "guaranteed" signals WITHOUT a verified Myfxbook live account. No proof means their full of shit.
  • Do not take trading advice or sign up to traders on Instagram, Telegram or other cheap little social media groups. None of them are real traders, I promise you that.
  • Choose a reputable broker. Don't use a broker from this list to start with.
  • Do not buy or use indicators with obviously cheesy names ie. "Billionairepips", "Magicpips", "Volcanoprofits" etc.
    Chances are, they were taken from this site and re-named then re-sold as something else.
This topic serves well for those who are not informed so let's continue the discussion.
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