Forex Trader Or Forex Affiliate – Learn to Read Warning Signs When Hiring A Forex Trading Account Service or Account Manager
It comes to me as a great surprise how people can blatantly sell so-called money-making systems on the Internet, especially products pertaining to the forex trading industry. They all profess that their systems will make you money while you sleep. Why then, are they investing so much time and effort selling those systems on the Internet for a mere profit of a few bucks?
Instead, they should use their own systems to trade forex and make millions, and all while they sleep!
The fact of the matter is that there is no get-rich-quick scheme and absolutely no get-rich-while-you-sleep scheme.
Read on to find out the warning signs that will alert you to a forex trading account service or account manager –
Making profits trading forex consistently takes a lot of hard work and if you can’t do it yourself, you will have to share a part of your take with someone who is wiling to do an honest job for you.
Yes, I’m talking about forex trading by using expert professionals or money manager services. This is not a business everyone can do. Not because of the risks involved, but because beginners to forex trading just can’t make consistent profits day after day. The people who have learned the secrets of the trade are definitely not going to teach the world and their wife the secrets of the trade. These people need capital, the more the better! This capital comes from people wanting to tap into the forex trading world.
For a small percentage that could be as low as 5% or as high as 50% of your deposit; these professional traders will make profitable trades day after day for interested people who want to make regular profits trading forex but do not have the time or expertise to put into learning all there is to learn about forex trading highs and lows.
However, in order to be a smart forex trader outsourcing your account, look out for the following warning signs of forex trading terms and conditions of an account manager to avoid getting cheated:
1. The trader wants a monthly fee to maintain the account.
2. The trader wants a set up fee for the account.
3. The trader will stipulate a fixed income like 20 USD per trade plus commission.
Remember that all the trader needs is capital. If he has the necessary expertise, he will mint money with the capital he can get from small investors.
Other marketing tactics to be wary of: more warning signs
4. The trader will show all kinds of charts where he entered and exited the trades. These charts can be doctored to look authentic with a few losing trades thrown in
5. Videos of what past trades have been like can be equally misleading since these too can be doctored
6. Promises of huge profits in a short time are also signs of overconfidence or an out-and-out scam, so steer clear of Fx account managers linked with any such offers or stipulations with their services
Get the best Fx account management deal: Tips for choosing an ethical forex account manager or service
- Ask for a week-long demonstration on a demo platform you open. The charts and reports cannot be doctored on these platforms even by you, the owner of the demo account. Once you are sure of the trader’s abilities, offer a sizable commission for each trade. 25% should suffice.
- A good trader will be able to bring in a minimum 5% profit each week on any deposit though I have known profits to shoot over 400 percent on good trading days in some months.
Source
