Topic: How to spot a scammers on trading as a newcomer (Read 204 times)

there are so many ways that scammers trap their victims. The methods described by Op seem to be quite common and some are old. Usually they also spread the information via email, private messages, telegrams and so on. I encountered a method that pretends to be a pro trader who wants to cooperate and give a lot of profit when he profits. He also provides a link to the exchange used and is required to make a deposit. Of course I will not do it, this is a strategy to deceive because you have to make a deposit on an unknown website. this can also be said to be phishing, but interacting directly with the scammer.

That is the difference and it must be admitted that experience is important,
scammers really have many ways to manipulate prices so we need to be careful,
learn as much as you can from the experience of traders and it should be done.

Spot scammers on trading? how is it? It seems that it is difficult, for example, I use Binance exchange, do you mean that there is a scammer who entered the Binance platform itself if I am doing trading on this platform itself?

All I know is that hackers enter an exchange when they have the opportunity to enter the platform, but what you say is a scammer within the trading of the exchange, I have never heard of such a thing. Maybe that is still possible in signal groups on Telegram but not within the Binance exchange site platform itself.

A beginner in trading may finds it difficult to know how to trap this kind attempts on manipulations by scammers, but being an experienced trader we should have get used to syoe of their tactics, I've seen the way they try to manipulate prices as well especially on exchanges, they will give you a reasonable buying price but once you confirm their order they will quickly adjusted it and make deductions and at the end of the day, the final rate they will be arriving at will be a cheat on you the seller.

Yes, carry out your personal research in your crypto trading is very important to newbies because it will help them to avoid so many scammers in the community because there are many newbies who come to look for short cut to achieve a huge amount of money that will lead them to the hands of scammers. Always try your possible best to trade by yourself in the crypto market, because it will help you to know so many things concerning crypto trading and it will also help to identify scammers easily in the market. Don't be greedy when trading your coins, it can lead you to regret because many newbies has fall victims to many scammers just that they want to make it by on miss.

I don't read the entire post of OP, sorry. But this is what I can say to newbies on how to spot scammers, we use our common sense as well. Usually, they'll come offering huge rewards and pleasing you so much in order to gain your attraction and boost your courage. But if you are blind and greedy, you will certainly fall into their hands.
- if we are in this case, we should have not made a decision right away, ask for time to decide so we can think it and could figure out if that is a good offer or a scam.

Hmm. you do have a point but I what I think is that op posting a source could be taken as a strong indicator that they're not passing it off as their own. The thread mentioned also emphasized the importance of posting sources when it comes to avoiding plagiarism.

In any case, I think we can agree to leave this to the mods hence I went ahead and reported the post.

There is no problem with that, but I was surprised by the word "great effort", the user did not try to format the text even when he was outside the formulation of bitcoin trading, so I was surprised by your response.


According to this definition, the word Plagiarism may apply to this post.


More https://bitcointalksearch.org/topic/tips-to-avoid-plagiarism-5133485

MODs' behavior varies with the quality of the copied content, user intent, and pattern repetition.

Thanks a lot for vouching me here, from now on i will make sure to check the plagiarism score of posts like these or atleast i can check there provided resources. I have seen some people making plagiarised posts and they are banned quickly even the ones who copied posts directly from AI bots. They are banned more quickly.

I will be more careful next time, i hope the op will be dealt accordingly.

Quick lookup and this is the first time you interacted with OP in terms of merits so I believe you.

However I would suggest double-checking in the future as OP posted the source at the end of their post. If we're talking about plagiarism, I doubt they will get banned for that since they posted the source. It's also not instant and could take time since it typically needs someone to report it. But it doesn't change the fact that this is an extremely low effort post. Op most likely wanted to fish merits by lifting a finger and hoped someone would not notice and bite.

Nah, i do not know him and i do not give merits to anyone on the basis of knowing him/her, to be honest, i have no idea that the op has copied it directly from any source because if that's the case then he would be banned till now, i read the topic, it hits me somewhere, i found it useful as it contains something that was already on my mind (related to Trading bots) so, i thought i should appreciate the OP's effort. And i do know that the topic is not directly related to Btc and i have also mentioned that in my reply too and i also shared some suggestions too. AFAIK, stock trading and BTC/any crypto assets trading has many things common. Either the topic is directly seems to be related to Stock and forex.

Forex trading, although it is similar to Bitcoin, but its basis is based on margin and futures contracts due to the limited movement of the price, and it differs from Bitcoin trading, in which spot trading is considered separate from futures contracts.

What is the good thing here? The user copied the entire article without adding any effort to it. This article is not dedicated to bitcoin or bitcoin trading directly, but rather to forex trade, which differs from bitcoin. However, you describe the effort as great and give the user merits. I do not want to question if you personally know him but there is nothing special here.

The first tip you should adhere to is that of first understanding how trading works. With your composition and presentation, it shows you don't even understand that scammers post and pose just like this.
In order to avoid being scammed, text or trades that are too lengthy or bogus to understand should be ignored.
If the person to trade with is pushy, please inquire why and ignore too.

Unless you are a greedy person by nature, some too good to be true trade margins should be ignored too.

Op you have made a long note to read and mixing everything up together in a clustered way makes it difficult to read and to highlight your points but however you have tried to make a point about forex trading and scam involved in it. My advise is to use brokers that have been long in the business because they have proved themselves and won't allow their company to go down. There are licensed brokers, so be sure to search for them and ask around to know reputable platforms to trade on so that you can also withdraw your profit when you have one. Surely if it looks too good to be through, you have to be careful.

These should be a newbies go to guide for detecting scammers on telegram or other social media because the maximum cases of such scams are running there and one would be wise to catch the scent of greed that these scammers produce in order to attract a victim.

To be safe, I follow some rules like something too good to be true is mostly false and that the person saying that they know full-proof methods to make money/pick trades/pick sports bets is a scammer as well.

Honestly, the list keeps on growing as scammers adopt newer tactics but the modus usually remains to tickling the victim's psyche in order to get their attention, ignore that and you should be safe.

Great compilation dear op, really great work, i think if a newbie trader would only give a small glance at this topic, they would avoid so much money getting stolen by these scammers, but your points are mostly related to forex and derivatives trading (stock, etc.) which does not help Crypto traders thoroughly, like there are many scams in crypto which is not included in forex or any other stock trading. such as,

• Wallet poising attacks
• ICO, IEO, etc. scams
• Ponzi Schemes
• Fake exchanges and wallet
• Fake bankruptcies of exchanges

Well, the list is long but only these came to my mind, P&D is also a crypto scam but it is included in other types of trading too, But overall, i really like your post, and try to use some format decoration like, you could fill red color in each heading and could increase there size, plus giving space after every heading will do the work too, the number would be a good idea, but overall, who is interested in knowing things will always get the knowledge despite the fact of representation.

According to the article you provided as a source, it is about Forex, you are in the field of crypto industry or Bitcoin. Then the long explanation you made here that came from the articles, it's actually boring to read. I'm sorry if this is what I said, if you would have summarized the topic you want to convey here in this section at least maybe our discussion here would be healthy.

Now, for us to know the scammer you must be critical, and you know the steps to take to determine if this person we are engaging is a scammer. You must have a basis for this. And research it somehow.

We are not in this forum to read a too long topic like this. First thing you must learn, keep it short.

Use quote for content (sentence, paraphrase you copied from other sources). Like this.
Your own words will be in normal space, no quote, like this following sentences.


Combining them, you can have a better one.

What you are doing makes me feel you copied and pasted the orginal contents, without your own thinking. Doing like my suggestion, you will help readers understand what are your thinkings which need to be discussed.

Bitcointalk posting etiquette

Firstly I will like to say Trading scammers come in multiple forms today now are days others are more unpretentious they can come from brokers and other non-broker sources. The simplest aspect of it is that identifying scams is that many services and features available today are legitimate. Now are days scammers use some scenes called TROJAN HORSE STYLE TACTICS to exploit what are generally genuine offerings. Here are some most common legitimate services that are often exploited by scammers.
* THE FOREX MUTUAL FUND (PAMM) SCAMS÷
This scam is known as the percentage Allocation management module (PAMM) it takes inspiration from the traditional hedge fund model, and as a legitimate product is a fantastic way for investors to take part in a managed fund. That is why it is important to strengthen due diligence first before investing some scammers will claim that their fund managers are qualified professionals but in fact, they are not and also could claim massive historical returns and will show numbers that way exceeds market norms to lure new investors in always be sure to check this thing.
*EA/Trading Robots Scams÷
EA means (Expert Advisor) modules and Trading Robots it can be powerful automated trading tools and are often a value-add offering with some legitimate brokers I would advise investors should understand that trading software only automates a manual strategy. I would likely say that automation has its inherent benefits but generating unlimited profits is not one of them. Unfortunately, some scammers offer solutions that are not what they claim to be, there was a time were a scammer claimed things like "churn out endless profits from the market round the clock" or " guaranteed profits "tell from my experience.
*Trading Signals Scams÷Wee all know that the trading signals are there to provide trade ideas and suggestions to traders that will help them take advantage of opportunities in the market cap. We all know that signals can be generated manually or automatically by individuals or companies. They can use technical analysis or fundamental analysis, or both to generate trading signals. There are many legitimate signal services, but once again there are scam offers and key warning signs to look out for.
* "HOLY GRAIL" FOREX SCAMS÷ This is where the scammer understands the hardest part of the entire trading activity is identifying and taking advantage of the best trading opportunities in the market. Some Naive investors believe they will be on the path to unlimited cash when they can get their hand on a "holy grill" trading system that market
⚠️WARNNING!!! Any promotion of a software or trading company that claims to have a "holy grail" trading systems that will insulate you from losses in the market is a scam and should be always avoided entirely.
*Guaranteed Returns scams÷ I will say that this type of scam is not-so-subtle but it is still this scam some investors are encouraged to join a service or company that trades in the forex market and they will earn a fixed period profit, but I will call it a scam also because the forex market is fast and dynamic and profits and losses are part of forex trading and cannot be forecasted.
*PERSONAL DATA SCAMS÷ When signing up with a brokerage firm, you will be required to submit some of your private and confidential information and possibly even payment info like credit card and details, a legitimate and regulated broker is required to take necessary security measures to ensure that your data remain private and is never shared or sold to a 3rd party when it comes to scam brokers they do not take the necessary precautions or worse, they may sell your information to a 3rd party. These parties may start sending you unsolicited emails or contacting you with whom you've never opted.
Identifying thefts and selling personal information can potentially result in losses for the innocent investor.
*FAKE BONSES AND PROMOTIONThesehese are quite common offerings by brokers, including legitimate ones licensed and regulated brokers have to ensure that bonuses and promotions meet regulatory guidances and do not " lock" the treat in however,  some shady brokers lure in investors with misleading promotion and have terms and so stringent or outright unattainable.
*PRICE MANIPULATION ÷ This is the most common scam performed by scam brokers, some broker manipulates their trading platforms to always be at the disadvantage of traders, it can come in the form of negative slippage, where entry and exit orders are filled at price undesirable to the trade. For instance, a buyer order is filled at a much higher price which limits the eventual profits that can be realized on the trade if any at all.
TAKE NOTE☑️
Remember that a fool is born every minute,  so don't be one - read, research, get your act straight, and always pay attention to your cybersecurity habits.
Source https://www.avatrade.co.za/education/trading-for-beginners/forex-scams