Forex Trading is a SCAM 🚨 👀 Learn about FOREX SCAMS

Forex Trading is a SCAM 🚨 👀 Learn about FOREX SCAMS

Forex traders are fraud victims. I know
that this video is going to be a little
bit controversial but I’m here not to
help everyone but to help those people
who have good intentions and who want to
invest in themselves to further their
own education, that way they can improve
their lives and I can tell you that I
have never met a profitable forex trader. And that should be relatively
substantial because I graduated from an
Ivy League university and I worked on
Wall Street and completed billions of
dollars worth of transactions. Here’s a
pitch book when we sold Metals USA to
Apollo which is a private equity firm
and this deal closed for $880 Million dollars. I worked at Morgan Stanley, CIBC World Markets a few M&A boutiques and I
can tell you that you are welcome to
disregard the message I’m telling you if
you want to try to turn $5,000 into $5
million but I have never met a
profitable forex trader now there are a
few caveats to that. the forex
industry it’s ripe with fraud because
you have a substantial counterparty risk
meaning because forex is relatively unregulated
you can then go and start up a bullshit
exchange like the guys like from Meir Barak
or some of the other ones and you
will lose all your money I mean you’ve
seen this happen with a lot of the BS
exchanges with like crypto currency / cryptocurrency and
and other things where there was
liquidity crunch and people could not
take all their money out. And this
happens quite frequently with some of
the fly-by-night exchanges that are
opened up in like the Canary Islands etc
But I can tell you that you have no
statistical advantage in trading Forex
and not only will you not turn $5,000
into five million dollars but you will
lose all of your money especially
because there’s substantial leverage and
yes I know that leverage works on both
ends but I can tell you again I’ve never
met a profitable forex trader and all of
these people who claim to make money by
using technical analysis and by trading
Forex they are fake gurus they trade
simulators they do not post legitimate
training statements they don’t
show you live screen recordings from
inside their account that shows all
their filled transactions. And yeah I mean
that’s about it if I traded Forex I
would go bankrupt I mean look
same thing with day trading if I day
trade it I would lose all my money if I
swing traded I would lose all my money
there’s nothing special about me it’s
just that what I teach my strategy and
the discipline that I have developed
enables me to be a profitable trader and
if I traded forex I would lose money.
But I know that a lot of people are not
going to listen to me so I just want to
tell you that if you do decide to trade
Forex I highly recommend that you use a
legitimate broker you can use
interactive brokers Also it
should tell you something that a lot of
the legitimate brokers like eTrade
thinkorswim, Schwab, Fidelity I don’t
think that they offer forex trading and
the reason is that almost everyone who
trades forex loses their money I do know
that interactive brokers does permit
forex trading and interactive brokers is
a legitimate broker so if you
want to just dabble in forex trading
and you don’t want to take the
counterparty risk of not being able to
take your your money out then I would
highly recommend not trading Forex at
all but if you do decide to disregard my
advice and you can trade with
interactive brokers you definitely don’t
want to open up a account with one of
these fly-by-night brokerages because
once you deposit your money into that
there’s a high probability that you’re
not going to get any of your money back.
So again I’ve never met a profitable
currency trader and all these people who
trade and claim that they’ve been able
to turn like five thousand dollars into
five million they’re frauds and they’re
scam artists the only way that you can
be successful and the only way that
you can be successful make consistent
profits in the stock market is by
selling option premium and that’s pretty
much it. If you don’t like my style then
that’s totally cool you can learn from
tastytrade. I’m a better trader in my
opinion then tastytrade I believe that
my returns are much better mostly
because they tell you to trade often and
they sell premium indiscriminately
predicated upon high implied volatility.
I don’t agree with that I think that
there are A+ opportunities and B
opportunities and C opportunities and
even if a C opportunity has a high
implied volatility then it doesn’t make
sense for you to trade that and
disregard your perception of that
opportunity solely based upon that
particular underlying having high
implied volatility. But hey if you want
to learn from tastytrade that’s totally
cool. Selling option premium is the only way
that you’re gonna make consistent money
in the stock market. Currency traders
they don’t make good students because
you guys are looking to make like 300%
a year. For selling options, if
you want to earn consistent money, you’re
going to earn around 30% to 60%
every single year. If
you want to be consistently profitable
as opposed to being poor then you need
realistic expectations you need to put
the work in you need to practice your
craft you need to be methodical and
fanatical about improving and if you can
do that then you will learn a legitimate
skill that you can monetize and utilize
in order to make money in the future. But
if you want to day trade or swing trade
or trade Forex then you’re going to lose
all your money and you’re going to waste
your time. So again this is David Jaffee
from you can go to and enter in
your email address and receive $400
worth of free training materials those
free training materials are better than
anyone elses’ paid materials. Please like
comment share and subscribe to this
channel if you have any questions leave
a comment below I answer everyone’s
comments and I’m here to help you so I
appreciate your attention.

100 thoughts on “Forex Trading is a SCAM 🚨 👀 Learn about FOREX SCAMS”

  1. Share this video with your friends & then subscribe to this channel. I want to be of service to as many people as possible and help them avoid stress while maximizing their profits. Learn a valuable skill and earn ~30% – 50% every year, visit to Receive $400+ of valuable FREE training
    Learn why forex trading is a scam and why forex traders are fraud victims

  2. I sell option premium too, and trade exactly like Tasty Trade does. Great advice!

    I'd love to hear your A, B, and C opportunities though.

  3. They have educational programs that charge $250 and $150 a month, supposedly they teach you and tell what to do so apparently you can make money and learn at the same time. It’s scam, right?

  4. Guaranteed Returns/Profits

    There’s no profit guarantee i.e monthly or annually in FX Markets.

    If a company promise guaranteed returns than ask for a guarantee returns letter on their letter head; sealed, stamped & signed by the relevant officer of the Company i.e. CEO or Chairman & also GM

    Ensure you have the following documents while trading in FX CFD FOREX Markets

    a. Complete account opening form attested copies

    b. Deposit slip attested copies

    c. Monthly statements copies

    d. Complete trade licenses copies & always verify & read licenses i.e. Trade Activities & Notes etc.

    e. Ensure Commission & Spread charges are mentioned in your account opening form & investor must understand why he is paying spread & commission charges.

  5. We have product to take your Forex trading to the next level , watch the video 1# in my channel and buy the product from the description .

  6. It’s tempting. Could you or anyone do me a favor and look up someone named “Ricky Andrade”? He seems to fit your description, but how is possible to fake so much wealth consistently? Doesn’t make sense to me how they could, but I don’t doubt your warnings.

  7. Ive made profits in both Forex and Swing trading ETF's. I did this without paying for any course but reading a lot of free materials and watching alot of videos. No I do not make millions but I make enough to keep me motivated. Do your homework and you will do fine. Every day isn't a $300 day but most days a profitable.

  8. I believe it… this market is design to move to wipe accounts one by one. Notice when you place a trade… if you win… guarantee on your next trade… you will either lose all your gains in one hour or slowly lose by making crappy trades. It’s not the trade, it’s how the market is designed. Only banks make money on that shit

  9. I have a forex trader asking 50$ starting money and telling me i receive 140$ weekly. Tell me what to do

  10. Forex is not for all. Not all can be doctors or engineer. You look stressful bro. Relax… Lose or gain in forex is part of the games.

  11. It's extremely suspicious that there is not a SINGLE forex/day/ swing trading strategy that is universally agreed upon as being consistently profitable. That's because it DOESN'T EXIST! Unlike stocks where it is universally agreed that buying and holding blue chip stocks/ ETF's for the long term (several years) is a legitimate strategy that has verified success, Forex/day/swing trading has NONE at all. In forex/ day/swing trading everyone eventually blows up their account. EVERYONE. You may be one of the 5% profitable traders this month or this year, but you are guaranteed to eventually end up with the 95% of traders who lose everything. It's sad and pathetic seeing all these thousands of brokers and websites acting like they are a legitimate professional industry when in fact ALL their clients are LOSERS. Retail forex/day/swing trading is WORSE than a pyramid scheme. At least in a pyramid the top 1% actually make money. In Retail trading NO-ONE makes money.

  12. @BestStockTrader. Hi there. Forex Trading – Are referring to trading pairs like EURUSD; opening Sell and Buy positions according to one's bias based on their analysis. If so I would like to know how is it a scam. Is there a way that a person will loose money if they get get the analysis right on average and do practice correct money management. Who takes the money from a Trader's account and how?

  13. Jesus christ Im getting headache from your arguments.. Just because you havent met anyone doesnt mean they dont exist. Lmao btw just because you graduated on a college and worked in the wallstreet doesnt mean you are gonna get successfull! 95% of the people fail because they have no Idea how to trade and dont have the psychology. I also had to lose 1k to learn and find out how to use the market for my success.

  14. Getting duped by forex scams is the worst thing that can happen to anyone. When I got duped of $120000 I was really devastated, I even contemplated suicide but a friend referred me to. And they helped retrieve it. It was like magic but it was real. These days, I confidently trade on forex because I'm sure to always have my cash back. It is a win-win for me. No loss. Thanks to they helped me recover a lot. You can reach them on [email protected]

  15. 78 forex brokers disliked become the only profit is those books to fund more fake stocks and more gambling

  16. I just gave trading 5minute currency pairs, just this morning. It's been 3 years trying, charts do what ever the hell they want. I quit Nadex.

  17. I have taught myself the Market And one year in i havent lost any of my original 1,000 that i started with ! I have made Money and lost some gains but over all im ahead of where i started ! I have read tons of Books such as Warren Buffet's How Buffet Does it , Micheal Lewis The Big Short ,How Successful People Think ,George Gilders Life After Google ,Ask Garyvee And recently Shark Tank Start up Business And The Google Boys ! I know some are not about trading but All have to do with Business ! The more i read the more i learn ! Im All in Long term On American Cannabis Stocks Medmen And Next Green Wave ! My goal is to invest $5,000 in both Cannabis Companys before Legalization in the United States and Jump out the Day before Legalization ! Because i saw everyone take profits when Canada Legalized and i got left holding Aurora because i thought stocks would go parabolic but instead the market corrected the evaluation of pot stocks so i got out once Aurora went back up ! Im into 5g For the Next Decade buying Nokia Shares And reinvesting my dividends right away ! I already have $5,000 worth of Nokia ! There my Big Infrastructure Telecom Play for the Next decade and i will add on dips whenever it works in my favor ! Your thoughts on what i have said would be Great ? Could use advice ! I also joined your channel ! Great Work thanks for being honest about the way everything truly works

  18. I mean I invested into a forex trader 1000 dollars and he got me back 4000 lol should I keep investing with him or leave it there?

  19. Forex is definitely not a scam. I’m a forex investor myself & personally KNOW people who have profited millions from just trading. This video is a scam 🤦🏻‍♀️!

  20. Sir, may i know your age? Because you looked like in your 30s while you said you have an experience for 20+ years.

  21. I mean if they make so much money with forex why are they selling courses and bots and all those things? They are scammers. Forex is a scam to get people's money.

  22. i've talked with a hedgefund manager that didn't think it was a scam citing some profitable acquaintances. i myself though traded a live account for several months after a few months training. after losing everything that i made in those few months, im starting to question if its actually possible for retail traders to be successful in forex. things that work in backtesting do not seem to continue working going forward, so its a lot of work.

  23. You so saying everyone a scam yet your makeing money of course, if you were so successful in fortex they would be no need to sell courses and if you want to help people you can do it for free

  24. You provide no actual argument as to why forex in and of itself is a scam. Forex is by far the most heavily traded market in the world, with a volume of $6 trillion a day. Arguing that it's a scam is the same as arguing that financial markets are a scam. In the end, it's just like any other asset class: prices moves up and down, and you can try to trade the movements. If you take the right trades and manage your money well, you will come out making a profit. It's hard work and takes intelligence and dedication, and you must definitely temper your expectations, but it can be done and there are definitely traders who do it.

    Now, if you want to argue that most forex education is a scam, I can't argue with that. Most stuff out there is pure garbage. If you want to argue that some forex brokers engage in dishonest or fraudulent practices, you are correct. But forex, in and of itself, is no more a scam than your options selling. It's just another asset class.

    And you not having met a profitable retail forex trader doesn't mean they don't exist. That's a fallacious argument. They do exist, but they are rare, because most people jump into it not not knowing what the hell they are doing and don't have the intelligence or patience to learn the trade. Plain and simple.

  25. I don't know how to play golf, so golf is a scam. I don't know how to [fill in the blank], so [fill in the blank] is a scam. I don't know how to trade forex, so trading forex is a scam. See the pattern?

  26. the scamers from tccpenny.. the scammers from securecoinminingcom… scammers…… all assholes..liars and thieves, preying on peoples hard earnt cash…

  27. Hey people I trade forex every day. It works just have to take your time. Put the work in! It's not a get rich quick scam. He is saying this to promote his company. Put the work in! No half ass bullshit. Or you will go broke the same way you will go broke with him if you don't put the work in.

  28. Im 18 and lost 4000€ wich is a lot for me. I lost it in Gold very bad for me.. but thats the raelity now. As i dont tradet i feelt a lot better and had always good money and income but when i tradet i was like in the casino i deposit money trade goes drawdown you have hope you deposit more money more money and from a 1000€ quick you have 3000€ loss.. seriously who many people make money here.. nobody.. the banks win at the end like in the casino i will stop it now totally

  29. 100% of the people who lost money in forex will comment positively on your video, your legit
    that's a lot of people, you have a lot of audience on youtube
    also youre just a kid if you believe that all forex brokers are FLY BY NIGHT.

    even if 50% of all are fly by night, as you like to say, who to blame them if noobs deposit money without knowing anything or not doing their due diligence about the good 50%. i'm just joking about ''50%'' the figure is 5% or even less

    so like someone else said your channel is about stocks and you bashing forex? whats your idea? you want customers? there are very few traders that do both or multiple between forex, stocks, commodities and metals contracts, binary options etc.

  30. It’s actually not:

    £5,000 can be used to make a a weekly profit of £1,000. It requires about 8 hours staring at a screen everyday making sure your trades are doing alright but it’s easy stuff once you get going.

    I started a live account November 2018 :

    £5,000 – I make around £800 – £1500 a week making about 12 trades a day. The commission is about £140 of that. It’s not going to make me a millionaire, but if you don’t he maths I’m making £4,000 a month just by pressing a few buttons on my laptop.

    It’s just like anything in life if you practice you will be very good at something. Take a professional race car driver for example the difference between him and just a standard driver is that he has practiced for hundreds of hours doing the exact same thing.

  31. I came here because a friend sent me a forex video link (haven't clicked on it). I knew it was a scam, but I just wanted to hear someone else say it. So, thank you for the video. 🙂

  32. forex ain't scam its a fast pace marginal trading, if you do not do high CFD trading, you will less likely lose money

  33. Let's be honest how do pple like forex get suckers like u and mes money simple they allow 3 to 10pple to make a ton of money and then sucker us into giving them money which we later never see. It's like saying this pizza will make u happy but it wont

  34. true!!! I think forex is designed to collect all money from their retail clients, base on my experience, ,, truelly manipulated by internal banks system… there rules is to lose your money not to be profit.
    when trader got in profitable position. system manipulation occur. trend stopping, trend goes against you , spread and slippage, a lot more tricks happened to suck our money. you can make money not much but always lose bigger until your account dried , because forex manipulator system always tracking our money and trade against us . i noticed when i gained, very slow trend movement but when we loose very fast like bullet train. I go back to stock market trading and stay away from forex forever , stocks is safer than forex, it sucks almost haft of my savings trying to recover some but never happened. worst they want to sucks all my saving. before i realyze it is too late i got scamed.

  35. What people wouldnt like to admit but any Trading related content or trading itself is the biggest scam in the world. You have a better chance and the odds are more in your favour if you gamble in poker.

    Ive traded for 5 – 6 years and not earnt a penny.. ive earnt more in premium bonds. After i done some research trading is actually a conspiracy. No liquidity. Sl hunting the brokers know exactly whats going on.
    Banks manipulate the market all the time so its a legal way of robbing you.

    If your thinking about trading DONT!

  36. You simple cant do it. My Dad makes over a 200,000 a year using… he use graphs ect. And i suck at it… its just not for everyone

  37. Your are the man. I honestly was thinking about to join forex and invest my money as a side hustle. Then I realize and still doing research about this institution of how you could make 10,000 to six figures in six months which is basically impossible in my perspective. Alot of individuals joined the institution thinking that they would initially be multi millionaires by using forex. Plus the payment which is around $250 to join forex and paying a payment of almost around 140 to 160 dollars a month if you dont have at least two people in your referral, plus and if you had two people you wont pay that payment monthly. This is basically a pyramid scheme where everyone joins in by being introduced by another individual and the top top would have the beneficial of taking the profits of all these revenue that's being put in this institution. Again thank you man for sharing your knowledge and experience about these specific institutions. You got a new subscriber. 👌👌

  38. This man is a very opinionated individual, how is a 5.1 trillion dollar market a scam? People make money trading forex every day that the market is open. This video could ruin a new traders confidence and I think you know that. I’m sure you’ve heard of George Soros or Martin Schwartz … But nevertheless be blessed.

  39. Thank you for your advice to I am already applying them and getting my first earnings, I have a question that I would like to help me solve, I also tried here with very good results

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