Managed forex accounts scam

In many cases of managed accounts, the manager actually appropriates funds towards unrelated luxury items such as cars, islands, and castles. When finally caught, the manager is not able to pay back the whole amount of stolen capital resulting in unhappy clients and multi-million dollar lawsuits. Yes, we know it seems extreme but, more often than not, it happens and people can lose their entire investment.

Some trading platforms even offer an option to let traders act as managers using the account structure of the broker. Livestock transport brokers prevents an individual from taking funds to spend on New York Knicks tickets, trips to the Bahamas, or a Porsche Cayenne.

While this is a safer option compared to letting an independent manager trade your money, you still lose out on the priceless knowledge and experience gained through studying forex trading. In the end, the only surefire way to be profitable in the forex market is to be knowledgeable, practice, and managed forex accounts scam disciplined.

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