Forex scam

A forex scam is any trading schemeused to defraud in
dividual tradersby convincing them that they canexpect
to gain a high profit bytrading in the foreign
exchangemarket. Currency trading "hasbecome
the fraud du jour,"according to Michael Dunn of
the U.S. Commodity FuturesTrading Commission.
[1] But"the market has long been plaguedby swindlers
preying on thegullible," according to the NewYork Times [2].
"The averageindividual foreign-exchange-tradingvictim loses
about $15,000,according to CFTC records" accordingto
The Wall Street Journal. [3].The North American
SecuritiesAdministrators Association saysthat "off-exchange
forex tradingby retail investors is at bestextremely risky,
and at worst,outright fraud."