If you’ve come here, you’ve probably been a victim of a trading scammer or maybe you’re investing money with one of the various self-styled account managers founded on internet. You are in the right place, because reading this post you understand how to identify a scammer, before throwing your savings out of the window. As you know, Educational Trades has been working in trading for years now. We have provided account management in the past, but since we are people who respect the law, we closed the business because it is prohibited in Europe. Anyway, we provide reliable services such as intraday signals.
But let’s always be honest, with trading you lose and earn, there is no way out for this. Certainly our signals have a high profit percentage, but I’m honest right away, some losses happen.
They are present on the net every day. Thousands of new scammers open Facebook, Telegram or Twitter accounts for the exclusive purpose of stealing money, even if it is only $ 10, they will do their best to steal it. Some, the most stupids, promise stratospheric gains with paltry investments. Others, a little more intelligent and patient, try to align themselves with the real market prospects. But even then you can easily identify who steals money. The first thing you need to understand though, is that often these people don’t know about trading. Asking specific questions can be helpful. Read the post to find out why.
According to this photo, we can get rich in a month. The user offers a 600% gain in a week (investing $ 1000 the profit is 800%). We consider that the trading week is made up of 5 days, therefore our profit is 120% for each trading day. Really? No! This is evidently a scammer account. But now let’s see what features distinguish scammers.
How to detect a trading scammer profile
It’s easy, trust me! There are some peculiarities that a scammer frequently uses.
Profile and account images are the first alert for your investigation. In fact a scammer often uses photographs that inspire trust, or tenderness. In a scammer’s profile you will find these types of photos, usually:
- Pictures of people with handicaps
- Pictures with animals (Puppies, Dogs, Cats, Horses etc.)
- Photo of a happy family, always smiling.
- Pictures of their successes (Villas, luxury cars, Rolex etc …)
Furthermore, these people profess themselves very religious. They thank god (which God is not relevant) for assisting them every day.
What about their account details?
This is a relevant thing. Pay close attention to the origin of their profiles. You will find out why later, but if a scammer come from United States or South Africa it can make a lot of difference. So remember their country of origin (usually fake). Needless to say, it is important to remember the profile name as well.
What A Trading Scammer Promises
High and fast profits. It is obvious. A scammer promises such an easy profit that it is impossible to believe it. Usually they ask to pay the investment and then they will take care of you, sending your profits at the end of each week. To understand the real intentions of a scammer I recommend these simple questions:
Which broker do you want to invest in? He will reply that he will invest in a broker, or he will ask you for access to your account. In the first case, find out what’s the broker’s name. In the second case, I recommend you to create a bait account on any broker.
What trading strategy do you use? He probably won’t be able to answer. Or he will answer something he finds online, something like supports and resistances, or maximum and minimum. He will surely repeat over and over again that his strategy is foolproof. Sharing fake screenshots with you will be another likely occurrence.
Do you take fees for your work? Okay, I’m almost sure his/her answer will be I’m not getting fees. Usually an official account manager takes a percentage on weekly profits. But these scammers, not knowing the world of trading, will probably want nothing in return. They will say that they are your salvation angels.
Scammers Payment Methods
I recommend asking for the payment method used by the trading scammer. It’s really important because through it you are able to catch the robber, as you will see in the chapter 4 of this post. To help you I can say that he certainly will not accept payments by bank transfer, but find below some gateway that he will use:
It is very difficult that the scammer will use paypal. But you will be able to expose the infamous even by following the suggestions that I will give you later. The first attempt the scammer makes is to convince you to pay in Bitcoin. Because Bitcoins are not traceable, so he will have an easy game. Obviously don’t accept. Get him to use Skrill for example. He is forced to accept, otherwise he cannot receive your money. You will find out why.
Catch A Trading Scammer
This is the most fun chapter. Now that you have pretended to be stupid and that the scammer is convinced that you are idiot, you must apply these easy steps:
Broker And Country Of Origin – these two characteristics are related. Let him to tell you which broker he is using and check the country of origin of the alleged fraudster (you can find it in his Facebook profile for example). Then visit the broker’s website and check which countries are enabled to trade on their platform. Fraudsters often indicate the United States as the country of origin, this is an alarm, because in the USA most brokers are prohibited. So you understand that the scammer is lying, or about his identity, or at least about his intentions.
If the broker instead asked you to manage your account (and you have decided to open a bait account) go ahead.
Payment Method And Profile Name – Let’s assume that you have chosen the Skrill payment method. Remember the name displayed on the scammer’s profile (Fecabook, Twitter etc.) and then log in to your Skrill. The scammer provided the email address to receive the payment, therefore send 20 Cents (or the minimum amount allowed) to the scammer.
To be able to withdraw the scammer must register the Skrill account with truly existing person.
You have now sent money, so you will get a receipt with the real name of the recipient.
While the scammer expects a hundreds dollars transaction, he will receive a small amount. However, you have set up a trading scammer, helping yourself and many people.
Ok but why I have to spend 20 cent to catch a scammer? It is true, you will spend 20 cents. But what you do is useful to face this scourge. In addition, with evidence in your hand you can report the fake facebook profile, but also the recipient’s Skrill account, consequently the authorities.
Online trading is a very difficult world, but you have to be realistic. A daily profit of 5% is considered an excellent profit by professionals, so it is the trader’s duty not to fall into the trap of easy and huge gain. Certainly there are days when profits are high, but there are days when you will encounter a loss. The goal of a trader is to quantify the profit on a monthly, annual or even five-year basis. For example, Educational Trade signals have an excellent profit percentage, but sometimes a loss occurs.
This is simply normal, because the market is more powerful than we are. There is no solution to this. The only solution is to manage your emotions and be patient, gradually accumulating profit. You have to accept that a 5% daily profit means 100% monthly, so on an investment of 1000 dollars your profit is an additional thousand dollars. Is it so bad?
Share this post to help other people and leave a comment if you’ve met scammers in your career.