⁣Unfortunately, the Forex industry is not immune to scams. Here are a few common Forex scams to watch out for: 🔹Ponzi Schemes: These scams promise high returns with little risk and usually involve a broker paying profits to earlier investors using funds from new investors. Always be cautious if the returns sound too good to be true. 🔹Unregulated Brokers: Some unregulated brokers may operate in a way that benefits them at the expense of the trader. Always verify if a broker is regulated by a respected authority. 🔹Fake Promotions: Watch out for brokers that offer unrealistic bonuses or promotions, especially if they ask for a deposit upfront. These offers may have hidden terms and conditions. 🔹Signal Providers: Some individuals or companies offer "Forex signals" claiming to guarantee profitable trades. Many of these services are untrustworthy and may only exist to get your money. Key Point: Always do your research before choosing a broker or service. Stick with well-regulated, reputable brokers and be wary of anyone promising guaranteed profits.