I have been scammed on Instagram forex/crypto traders who promised high return profits investing with them. How can I get my money back
Can we believe traders in Instagram?
Hundreds of traders who post on Instagram lack of credibility. When asked for the accreditation and qualifications to prove their proficiency, they will ignore you. Some of them are real and you can meet them in person but that does not make them legal.
How do you know if you’re being scammed on Instagram?
People who misrepresent where they are located. Messages that appear to come from a friend or a company you know that ask you to click on a suspicious link. Accounts that have a brief history on Instagram. Messages or posts with poor spelling and grammatical mistakes.
Can you get scammed by trading?
All the unsuspecting trader has to do is hand over X amount of dollars for the privilege of trade recommendations. Many of signal-seller scammers simply collect money from a certain number of traders and disappear. Some will recommend a good trade now and then, to allow the signal money to perpetuate.
What returns do the best forex traders make?
Even so, with a decent win rate and risk/reward ratio, a dedicated forex day trader with a decent strategy can make between 5% and 15% per month, thanks to leverage. Remember, you don’t need much capital to get started; $500 to $1,000 is usually enough.
Can you trust forex traders on Instagram?
The short answer is no. Most forex traders you see on Instagram are scammers, making money from selling courses and not from actually trading forex. They’re nothing more than marketers, selling a dream.
Can you trust forex traders?
Forex trading can be legitimate for governments and large institutional investors concerned about fluctuations in international exchange rates, and it can even be appropriate for some individual investors. But the average investor should be wary when it comes to forex offers.
What happens if I get scammed?
If you’ve been scammed, consider reporting the fraud to the police to see if they can take any action, as well as to your state consumer protection office. You can also report scams to the FTC. File a report online with the FTC, or by phone at (877) 382-4357.
How do I report a scammer?
The Federal Trade Commission (FTC) is the main agency that collects scam reports. Report the scam to the FTC online, or by phone at 1-877-382-4357 (9:00 AM – 8:00 PM, ET).
How do I contact Instagram directly?
You can contact Instagram support online via Instagram’s online Help Center, or by reporting a post directly. If you shake your phone while using Instagram, a pop-up will appear that lets you report bugs. Instagram does have a phone number — +1 (650) 543-4800 — but you won’t be able to talk to anyone there.
What is a realistic forex return?
A realistic return for Forex trades is usually considered to be somewhere around 1-5% on a monthly basis. However, it needs to be outlined that this number is a combination of hundreds or even thousands of traders that each trader makes, meaning that there is always something that could potentially go wrong.
Who is the most successful forex trader?
The Best Forex Traders in the World
- George Soros. We start out list of the best Forex traders in the world by looking at one of the most legendary figures in Forex trading history, George Soros. …
- Stanley Druckenmiller. …
- Bill Lipschutz. …
- Andrew Krieger. …
- Paul Tudor Jones. …
- Michael Marcus.
Can forex make you rich?
Forex trading may make you rich if you are a hedge fund with deep pockets or an unusually skilled currency trader. But for the average retail trader, rather than being an easy road to riches, forex trading can be a rocky highway to enormous losses and potential penury.
Is forex a gamble?
Trading Forex isn’t gambling – Here’s why
By using various strategies and tools, a trader has the ability to dial the odds to their advantage and be ahead of the market, as well as other traders.
Who controls the forex market?
7.1 The Foreign Exchange Market
It is decentralized in a sense that no one single authority, such as an international agency or government, controls it. The major players in the market are governments (usually through their central banks) and commercial banks.
How do I become a Forex Trader millionaire?
Try a demo account for the FOREX. If you make money with the demo account, you will make money with a live account. I once put $250 into a FOREX account and had $1600 within a week. Solid money management and modest daily goals will make you a FOREX Millionaire in no time.
Who is the best forex trader in Nigeria?
Comparison of Best forex brokers in Nigeria
| Forex Broker | Regulation | Start Trading |
|---|---|---|
| FXTM | FCA, Cysec | get started |
| Hotforex | FCA (UK), FSCA (South Arica) | get started |
| OctaFX | CySEC | get started |
| XM Forex | FCA(UK), CySEC, ASIC (Australia), IFSC(Belize) | get started |
How much do forex traders make a month?
12-Month Trader salary
| Starting capital | 2% monthly return | 10% monthly return |
|---|---|---|
| $10,000 | $12,682.42 | $31,384.28 |
| $50,000 | $63,412.09 | $156,921.42 |
| $100,000 | $126,824.18 | $313,842.84 |
| $250,000 | $317,060.45 | $784,607.09 |
How much do forex traders make a day in South Africa?
How much do successful traders in South Africa make per day? There are many successful South African forex traders who make between $1000-$5000 per day (R 15 000 – R 75 000 ZAR) at the time of writing; however it is recorded that the average trader in South Africa makes about $50 / R 433 ZAR a day.
Do forex traders pay tax in SA?
Is There Tax Payable on Forex Trading in South Africa? The answer is an unequivocally ‘yes’. Even when you generated profits in your offshore forex trading accounts, you are obliged to pay income tax on the profits.
Who is the most successful forex trader in South Africa?
Ref Wayne
Ref Wayne. Ref Wayne is considered the best and most successful trader in South Africa who has developed the necessary trading skills to conquer the financial markets. Ref Wayne started trading from an extremely young age after struggling with a lack of career development opportunities.
Who is John Ghatti?
John Ghatti – CEO of Winnersground – Forex Trader | LinkedIn.
Who is lesiba mothupi?
Lesiba Mothupi is one such young man of 23 years age. Nowadays, every news channel, every newspaper, and talk shows are talking about him and his successful career. He has set a real life example for the people dreaming for a better life.
How old is Sandile innocent shezi?
WHO IS SANDILE SHEZI? The 30-year-old was born in Durban before growing up in the famed Umlazi township.
Who is Jabulani Ngcobo?
Jabulani Ngcobo, popularly known as Mr Cashflow, is a South African entrepreneur, author, and motivational speaker. He is the CEO and founder of Cashflow properties, a forex trading investment company. He became one of Durban’s youngest self-made millionaires at the age of 27. How well do you know him?
When did Jabulani Ngcobo start trading?
Career Before Forex Trading
After leaving the job, in 2016, he started a debt collection company before venturing into a stock market-related business, launching his brand Cashflow Pro in 2009, which was re-branded from Smart FX Pro.
Is Cashflow Ngcobo out of jail?
His business dealings have landed him in hot water, though, and he is still appealing a fraud conviction in order to stay out of prison. He was reportedly released on bail in May 2019.