Before you start trading FOREX make sure you know exactly what market you are in. Very likely the best definition of FOREX can be found at the INVESTOPEDIA website (quality information source for investors): "The foreign exchange (also known as "FOREX" or "FX") market is the place where currencies are traded. The overall forex market is the largest, most liquid market in the world with an average traded value that exceeds $1.9 trillion per day and includes all of the currencies in the world." To add another view, here is how authors of the well known INVESTORWORDS lexicon define FOREX: "An over-the-counter market where buyers and sellers conduct foreign exchange transactions, also called foreign exchange market.



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Reader Comments (Page 1 of 1)
concerned reader1

1-07-2011 @ 7:57PM
concerned reader said...

Martha, saw your note re credit card phone rep tricks. Answer: Yes, a rep recently tried numerous times to trick me into buying one of those protection services. I lost my temper after his third attempt to disregard my firm and clear rejection. The card issuer was Discover.

Reply
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legal farmhand2

1-09-2011 @ 5:43PM
legal farmhand said...

I am a 73-year-old man. My wife of 12 years left October of 09. She had informed me a few months earlier that I had to remortgage the house to pay her gambling debts of about 33 thousand dollars again. I refused; when she left, she had a computer with a porn image on it. She had bought the computer even with two computers in the house.
She talked me into paying her gambling debts in about 2002, promising to ban herself from the casino boats. Later I discovered she used a different name on the ban documentation and continued to gamble unknown to me.
Afterwards I cashed in my retirement plan and bought a new house. We were in the new house about a year when she told me she had continued to gamble, accumulating about 18 thousand in debts. I mortgaged the house on her promise to quit gambling. We bought a new car with some of the money of the line of credit on the house also. As stated above in late 09 she informed me of the continued gambling, with the 33 thousand dollars of gambling debts. She left claiming the computer had porn on it and if I did not agree to her terms, she would take it to the law.
I obtained a lawyer that at first appeared to be aggressive to do me justice. I obtained her bank statements showing where she had withdrawn $34,795.08 from her checking account. This was money from her salary until her job closed social security and state unemployment benefits. I also discovered she had drained the line of credit on the house. I contacted the state gambling agency, to no avail. I did contact a highway patrol officer who enforces the state laws on gambling. She was arrested for trespassing a few days later and had to pay a fine.
I met with my lawyer with documentation of my retirement account details, of it being earned prior to marriage, trail of cashing it in then purchase of the house. I had copies of her checking account, the account of the line of credit and her bankruptcy. He stated she had no right to any monetary relief. My lawyer called once about the porn claims that her lawyer was making. I had informed my attorney of the porn accusation in the initial conference, he indicated the charges were just threats and not to worry.
My lawyer, my wife and lawyer did not come to the pretrial settlement conference with the presiding judge. Two days later on the trial date my lawyer did not show until about ten minutes past the docket time, telling me it had been settled and I would have to give her $35,000.00 and pay her health insurance for two years. I disagreed, the lawyer got belligerent and said I had too agree or the judge would get mad if I brought up any of the evidence, including the fact that her former husband and his wife were there to testify of my wife’s methods to get what she wanted. My wife’s former husband had volunteered to testify that in their divorce my wife had told him to buy her a new car or else she would file charges of sexual misconduct with her teen age daughter. My wife and her former husband’s present wife were single "buddies" when I met my wife. They had same age daughters in junior high school.
Forex fraud is a growing problem. It can be found everywhere from boiler room scam artist's, to some guy you met at the coffee shop the other day, even past trusted brokers and executives have been involved in forex scams. The most common victims are the one's who think it will never happen to them. Though there is no guaranteed way to avoid forex fraud, it is possible to trade, minimize the chance of becoming a victim of a forex scam, and prosper in the market providing you remain diligent and alert in every decision you make. Don't let your hard earned dollars become an easy profit for some forex scam artist, make sure any person you choose to do business with is duly regulated in the country they operate from.