Our group has been looking into some of the tactics of sophisticated scammers who are after your money.
1- They now create entire web sites where they pretend to test other EA's by which a particular EA does better than the rest (their flag scamship).
2- Pricing: Their tactic is to price an EA at ridiculously high prices to make you think if it is that expensive (as much a $2000), it must be good. They usually limit the number of copies sold to 100. If you follow the site they do stick to their claim of 100. When the copies are sold ( 100 people scammed), they close down the site and just simply start another under a different logo or "super EA". In this way, they scam the most gullible.
3- Membership chat sites. Another tactic they use is to set up membership sites or to infiltrate existing ones where they discuss EA's sold on the market. They promote their EA or they exploit people's gullibility and simply ask that they be contacted "on the side (PM-private message)" to give you some free software or advise. Once they have your e-mail, "your new friend and good Samaritan", will try to sell you "the better robot" on the side.
The number strategies the scammers use are as vast as the universe. We have been surprised most not by the scammer's tactics but the gullibility of the public to simply hand out their money to anyone with an e-mail or web page over the internet. Here is the "golden rule". When YOUR money is in THEIR pocket it's too late! There are some legitimate operations out there with some developers having come up with very sophisticated robot EA's. The best way to secure yourself that it is not a scam it to make sure YOUR money stays with you until you are able to determine if the EA meets your expectations. We have found that products bought through ClickBank which guarantee the safe refund of your money within 60 days to be the most reliable. Another effective method is for the vendor to allow you free access to a demo version of their EA.
BOTTOM LINE IN ALL THIS, BUYER BEWARE, THE SCAMMERS ARE AFTER YOUR MONEY!
We are now examining, on line forex scams pretending to train people to trade Forex. We will post our findings in good time.
Igor
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