![How to Know If A Forex Course Is Scam? [ 7 Signs Of Forex Education Scam]](https://fxtradinger.com/wp-content/uploads/2021/05/Memorization-Techniques-1200-x-600-px-1200x385.jpeg)
Is there anything wrong with selling forex courses? Obviously, there’s nothing wrong if your seller is honest and successful himself.
If a person sincerely wants to help you with knowledge, he could do it free of cost.
I don’t want to say that forex courses have no educational value. My point is that if there is so much educational stuff available online free then why to spend money on paid courses.
There are many traders who complain their course is a scam. Let’s quickly jump to the question: How to know if a forex course is a scam?
To identify scam forex courses, it’s essential to verify the track record of course makers from the third party. Scam forex courses portray forex as a money-making machine. Moreover, they are paid and full of strategies that you can learn for free. Lastly, a scam course seller will never offer a money-back guarantee.
Beware traders don’t fall into the trap of these scam sellers. First, try to do self-study from every kind of free material available on different sites.
After this spend time on a free demo to get a free experience. Only go for paid courses if your free learning doesn’t prove fruitful.
What Is Forex Education Scam
Curious to know about what is a forex education scam?
Forex learners fall into the trap of education scams when they trust inexperienced teachers, fake educational materials and courses. The Internet is full of such material which aims to get likes and subscriptions NOT trader’s well-being.
Many people are trying to get a negative advantage of forex growing fame. They want to sell their forex educational courses without knowing if these courses are right or wrong.
Unfortunately, there is no way and no law to check the validity of forex educational material. That’s why you need to be cautious when choosing a forex mentor or online course for you.
How to Know If A Forex Course Is Scam: 7 Signs
How to spot whether the educational material is a scam or not? To save your money it’s important to do proper research and verify the track record of a mentor.
Here’s you learn 7 Signs to Spot Forex Course Scam:
Scam Forex Courses Are Highly Paid
Scam forex courses are mostly highly paid. The course designers try to greed traders that they can earn millions if they do their course.
Such courses range from $12 to $560. The prices vary with access duration. Once you paid, there is no way to get back your money.
Scam Forex Courses Are Composed of So-Called Experts
When few traders fail in forex, they start selling their dreams. They don’t sell their expertise; they actually sell their unaccomplished dreams.
When you ask such a course owner to show evidence of their expertise, track record, or certification, they would never show you.
Beware of such so-called experts. It’s better to do self-study forex rather than joining such courses.
Scam Courses Present Forex as Quick Rich Scheme
Whenever you see a truck full of money or “millionaire in seconds” statement on some course, stay away. Scam courses present the wrong picture of forex as a fast-money-making scheme.
They not only mislead learners, but they also set doubt on the reputation of forex. Making money in forex is challenging and risky.
It’s fake to grab students by telling them that this course will make them a millionaire in a week.
Scam Forex Educators Offer Videos Identical to Free Videos
There is a large number of free educational material available on YouTube and different social websites. This material is excellent for self-learning.
The major sign of scam courses is that they include videos identical to free videos available on social networks.
They just copy these videos and make a course with their name. Such fake courses are worthless.
Scam Forex Courses Are Full of Flawed Strategies
One of the most common causes of failure in forex is the wrong trading strategy. Scam forex courses are full of strategies that are a complete failure.
Such courses don’t come from the hands of expert traders. Nowadays traders with little knowledge and experience of forex are coming into the education field.
Because there is no rule and no qualification to publish educational material for forex.
Scam Forex Educators Are Actually marketers
Most of the time traders don’t compose forex courses. It’s marketers who actually compose. They use different publicity gadgets to sell their courses.
If you try to explore the motive of such marketers, they aim at high sale only. Such courses have nothing to do with a trader’s education.
Scam Forex Courses Will Not Offer Money Back Guarantee
A Money-back guarantee is an option that many authentic forex courses often use. In this way, if the buyer doesn’t find the course effective, he can get his money back.
But scam forex courses will never give this offer. They are a one-time paid course with no chances of return.
5 Tips to Avoid Forex Scam Courses
If you want to avoid fake stuff in forex, be skeptical. Ask questions to course makers to remove your doubts.
Follow these key tips to avoid scam courses in forex:
Don’t Enroll Overpriced Courses
It’s better to first click free forex courses videos than to buy the course. The right time to join mentorship comes when you fail to put out positive trade despite free education and practice.
So first try self-learning and demos. They are free and much better than paid courses.
In this world of digital progress, it’s easy to copy the track record of someone from any site and edit it.
Many courses will show you the track record of third parties to impress you. Don’t think they have a verified track record. Never ever believe in such stuff.
Don’t Go with Screenshots of Huge Profits
Making a huge profit in forex needs a long-time struggle. But many course makers will show you screenshots of hygge profits of their so-called students.
It’s really easy to make a fake screenshot or edit someone’s screenshot. So, never trust such false publicity gadgets
Verify the Track Record Of Course Makers
Always trust third-party verified track records. There are two sites that you can consider in this case like Myfxbook.com and fxblue.com.
Here you can check the track record that somebody has shown you are actual or fake.
Never Trust Those Who Are Selling Unrealistic Goals
There are many who show you unrealistic dreams. The right nature of forex is that it’s not a quick-rich scheme. You can’t turn millionaire overnight.
So, never trust those who are hiding hard truths about forex.
Is It Worth Paying for Forex Courses
Maybe YES or maybe Not. It depends on what you want to learn and how your course teaches you. If the course is organized by inexperienced traders, it’s worthless. But if the course is well organized and comes from the expert trader, it’s worthwhile to spend money.
Frequently Asked Questions
If almost all forex courses are scam what is the legitimate way to study
We can’t say that all courses are scam. But it’s true that most courses are a scam. Mostly paid courses only tell the basics of forex.
They are boring, over explanatory and talk less about actual skills. If you want to learn profitable consistent trading, only courses are not enough, you are probably. If courses teach you the skills, experience teaches you the way to apply skills. That’s why both courses and real-life experience matter a lot.
What is the cost of forex Online Courses?
Forex online courses range from $12 to $550. The price varies with the types you may choose. It also depends on the access time. Some courses have an access time of one year while others give 1 month.
Conclusion
With more updates in forex, its education is also changing. Now traders are more aware of scams. They try their best to find scam-free courses.
Hopefully in the future, the best forex course will be well organized, engaging and informative.
They will not only teach you the basics but also tell you the technicalities of different platform operations.
It’s better to check the index or Syllabus of the course you choose. I would recommend you never go for a trading course that doesn’t offer a money-back guarantee. Happy Trading!
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