Hi everyone,
First time poster here and I'm not even a beginner, I know less than that about Forex.
Just had a quick question for you guys and was hoping you could help me out...
In Egypt, a few Forex trading companies have been emerging lately. I know of 2 of them, and their promises are the same. You give them your money, they trade and you get the returns while they keep part of the profit for themselves.
Now, I have a number of friends and relatives who do have investment accounts, and they all say they've doubled their capital in less than a year. Some already have, some are on their way.
Mind you, none of them has withdrawn all their money yet, everyone's happy watching the money grow and take out a little money from time to time for fun stuff (travel, gifts, splurging... etc)
It's been going on for about 3 years now, and some of them have stopped working; relying on the profits from their investments to keep them going month-to-month.
Am I the crazy one? Or do these sound like Ponzi schemes to you too?
Are those typical returns for managed Forex trading accounts?
Over 100%, Consistently (year over year)?
Would love to hear your opinions because people think I'm crazy for calling those companies out as scammers.
First time poster here and I'm not even a beginner, I know less than that about Forex.
Just had a quick question for you guys and was hoping you could help me out...
In Egypt, a few Forex trading companies have been emerging lately. I know of 2 of them, and their promises are the same. You give them your money, they trade and you get the returns while they keep part of the profit for themselves.
Now, I have a number of friends and relatives who do have investment accounts, and they all say they've doubled their capital in less than a year. Some already have, some are on their way.
Mind you, none of them has withdrawn all their money yet, everyone's happy watching the money grow and take out a little money from time to time for fun stuff (travel, gifts, splurging... etc)
It's been going on for about 3 years now, and some of them have stopped working; relying on the profits from their investments to keep them going month-to-month.
Am I the crazy one? Or do these sound like Ponzi schemes to you too?
Are those typical returns for managed Forex trading accounts?
Over 100%, Consistently (year over year)?
Would love to hear your opinions because people think I'm crazy for calling those companies out as scammers.