Forexgen scam warning – watch out!

ForexGen is an online brokerage firm providing a unique and individualized service to Forex traders worldwide. We are dedicated to absolutely provide the best online trading services in the Forex market.

In criminal law, fraud is the crime or offense of deliberately Deceiving another in order to damage them – usually, to obtain property or services unjustly. Fraud can be accomplished through the aid of Forged objects. In the criminal law of common law jurisdictions it may be called "theft by deception," "larceny by trick," "larceny by fraud and deception" or something similar.

False advertising is the use of deliberately false statements or deception in advertising in order to gain a commercial advantage. As advertising has the potential to persuade people into commercial transactions that they might otherwise avoid, many governments around the world use regulations to control false, deceptive or misleading advertising , and I'll take you through what happened from those scammers such as : Rob, Grespi, Rick, Ghafour, Rashid, Omar, and many more masks….all fake

They promote their signal service, fooling novice forex traders to count on them in trading the news. They have caused hundreds of people to lose big money. They even dare to promise you if you lose that they can blackmail the broker to get you your money back.

They have done that several times and we have seen traders burned by their flames, and they try to flame brokers too, some times succeed and others not. Google for Felix combined with Oanda, interbankFX, FXCM, Forex.com, and any broker of your choice, you will see their scams, a replica used with tens of brokers over the past 3 years, and the victims, hundreds of traders who get broke.

How to avoid scamming?!!


*Stay alert and be cautious with e-mail and on Web sites
*Don't get scared by the content of e-mail
*Don't give out information they should have
*Never use links in e-mail to get to any page on the Web


Phishers can make e-mail links do any of the following nasty tricks:

· Take you to the legit site but sneak in a pop-up window from a phisher's site that asks for personal info.
· Take you to a fake site that has a very similar URL to the real site.
· Cover up the address window in your browser with an image that makes it look as if you're at the real site. If you can't click into the window, it's fake.
.They also tells fake stories in order to remain at the top and to damage the reputation of the other brokers.

PIPS

The term used in the currency market to characterize the smallest incremental move an exchange rate can make. The value of a pip depends on the currency pair. One pip/basis point equals for instance 0.0001 for EUR/USD, GBP/USD and USD/CHF, and 0.01 for USD/JPY.

HEDGING

The practice of undertaking an investment activity in order to protect against loss in another. An example of this is selling short to nullify a previous purchase, or buying long to offset a previous short sale.

Multi Pair Chart

The multi pair chart indicator allows putting multiple currency pairs on a host currency chart and draw the difference between the these currencies (the added pairs and the host pair)
The multi pair chart is an indicator which represents more than one pair symbol, it creates further correlations between the pairs through hedging. It simulates the expected relations between more than one symbol to be more useful and to facilitate the trading process.

you can learn more on :http://forexgen.com/trading-tools/multi-pair-chart.html

lot

The most common increment of currencies is the Pip. If the EUR/USD moves from 1.2250 to 1.2251, that is ONE PIP. A pip is the last decimal place of a quotation. The Pip is how you measure your profit or loss.
As each currency has its own value, it is necessary to calculate the value of a pip for that particular currency. In currencies where the US Dollar is quoted first, the calculation would be as follows.
Let’s take USD/JPY rate at 119.80 (notice this currency pair only goes to two decimal places, most of the other currencies have four decimal places)
In the case of USD/JPY, 1 pip would be .01

you can learn more about lots on : www.forexgen.com

Order Types

There are some basic order types that all brokers provide and some others that sound weird. The basic ones are:


Market order:

A market order is an order to buy or sell at the current market price. For example, EUR/USD is currently trading at 1.2140. If you wanted to buy at this exact price, you would click buy and your trading platform would instantly execute a buy order at that exact price. If you ever shop on Amazon.com, it's (kinda) like using their 1-Click ordering. You like the current price, you click once and it's yours! The only difference is you are buying or selling one currency against another currency instead of buying Britney Spears CDs.

Limit order:

A limit order is an order placed to buy or sell at a certain price. The order essentially contains two variables, price and duration. For example, EUR/USD is currently trading at 1.2050. You want to go long if the price reaches 1.2070. You can either sit in front of your monitor and wait for it to hit 1.2070 (at which point you would click a buy market order), or you can set a buy limit order at 1.2070 (then you could walk away from your computer to attend your ballroom dancing class). If the price goes up to 1.2070, your trading platform will automatically execute a buy order at that exact price. You specify the price at which you wish to buy/sell a certain currency pair and also specify how long you want the order to remain active (GTC or GFD).

Stop-loss order:

A stop-loss order is a limit order linked to an open trade for the purpose of preventing additional losses if price goes against you. A stop-loss order remains in effect until the position is liquidated or you cancel the stop-loss order. For example, you went long (buy) EUR/USD at 1.2230. To limit your maximum loss, you set a stop-loss order at 1.2200. This means if you were dead wrong and EUR/USD drops to 1.2200 instead of moving up, your trading platform would automatically execute a sell order at 1.2200 and close out your position for a 30 pip loss (eww!). Stop-losses are extremely useful if you don't want to sit in front of your monitor all day worried that you will lose all your money. You can simply set a stop-loss order on any open positions so you won't miss your basket weaving class.

you can learn more about types of order on : http://forexgen.com/level-1-forex-intro./order-types.html

Trading

The Foreign Exchange currency market is known as FX. It is the simultaneous buying of one currency and selling another, currencies are traded and exchanged in pairs. Traders are all unified on one goal, making profit. Profits are produced when the prices move in the trader direction.

In the past, Forex markets were accessed only by larger financial institutes, investment banks, large multinational companies, global money managers, international currency dealers, and liquidity providers. Lately, online trading is offering trading platforms for each individual who wants to trade currencies in order to gain profit.