Foreign exchange market is now bigger than ever. For example, did you know that the daily currency volume that is being traded on the Forex is 5.3 trillion US dollars? To visualize that number imagine every single domestic product purchase (toothpaste, cleaning products ets.) around the world and then multiply this by four. Yes, Forex is just that big. And with the large amount of money comes a proportionally large number of scammers. This is our reality - some people prefer to make their profit the honest way and some take the path of cheating their way into the world of the wealthy. This makes the job of any trader twice as hard, because currency trading itself is already tricky and together with the constant need to stay away from scams it becomes nearly impossible. That’s why we put together this handy guide - to help you explore the tricks that are being used against honest traders and learn to effectively avoid them to protect your earnings. Today we will discuss the following:

• What is Forex and how does it work
• Types of Forex scams including how Forex brokers cheat traders
• How to identify and avoid scams in Forex trading
• Do Forex brokers trade against you
• How to choose a reliable Forex broker checklist