In its 2009 report, the Foreign Exchange Committee at the Bank of International Settlements estimated the total numbers of forex related transactions to be $3.2 trillion. With this type of money floating around an unregulated spot market that trades over the counter with no accountability, forex scams can only increase with the lure of earning fortunes in limited amounts of time.

Forex markets are among the most active trading markets in the world, with participants ranging from large banks, to multinational corporations, to governments, to speculators and even to a small fraction of individual professional traders. The instability foreign currency prices can result in heavy losses for an investor. However, this is not the only risk that investors have to consider.