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.

Divergence Trading

What if there was a low risk way to sell near the top or buy near the bottom of a trend?

What if you were already in a long position and you could know ahead of time the perfect place to exit instead of watching all your unrealized gains vanish before your eyes because your trade reverses direction?

What if you believe a currency pair will continue to fall but would like to go short at a better price or a less risky entry?

Well there is a way. It’s called divergence trading.

Divergence is basically price action measured in relationship to an oscillator indicator. It doesn't really matter what type of oscillator you use. You can use RSI, Stochastic, MACD, CCI, etc. etc. The great thing about divergences is that you can use them as a leading indicator and after some practice, it’s not too difficult to spot.
When traded properly, you can be consistently profitable with divergences. The best thing about divergences is that since you’re usually buying near the bottom or selling near the top, your risk on your trades are very small relative to your potential reward. Cha ching!
Higher Highs and Lower Lows
Just think “higher highs” and “lower lows”.

If price is making highs, the oscillator should also be making higher highs. If price is making lower lows, the oscillator should also be making lower lows.
If they are NOT, that means price and the oscillator are diverging from each other. Hence the term, divergence.

There are TWO types of divergence:

1-Regular .
2-Hidden .

you can learn more about the two types on :
http://forexgen.com/level-6-strategies/divergence-trading.html

How Leverage Affects Transaction Costs

Besides amplifying your losses, leverage also has another way of killing you. It’s a much slower kind of death, though, kinda like being constantly exposed to high levels of radiation. Most traders don’t see it coming and by the time they notice it, they’re dead.

This killer I’m talking about is the associated transaction cost of using high leverage.

Not only does leverage amplify your losses, it also amplifies your transaction costs as a percentage of your account.

Let’s say you open a mini account with $500. You buy five mini $10k lots of GBP/USD which has a 5 pip spread. Your true leverage is 100:1 ($50,000 total mini lots / $500 account). But check this….you paid $25 in transaction costs (($1/pip x 5 pip spread) x 2 lots)). That is 5% of your account! With one trade, and the market not even moving yet, you’re already down 5%! If your trades lose, your account balance shrinks. As your account balance shrinks, your leverage increases. As your leverage increases, the faster your transaction costs eats away at the little money you have left. This is the slow and silent killer I’m talking about.

The higher your leverage, the higher your transaction cost as a percentage of your trading capital.

If you have a mini account, and open a trade with a 5 pip spread, which equals $5 transaction cost, look at how the relative value of your transaction costs increases with more leverage.

you can learn more on :
http://forexgen.com/level-5-professional/how-leverage-affects-transaction-costs.html

Why Trade the News?

Trading news releases can be a significant tool in your trading arsenal. If you want, it can be your only weapon altogether. Economic news reports often spur strong short-term moves in the market, which are great trading opportunities for breakout traders. And with the forex being open 24 hours a day and a true worldwide market, there are plenty of opportunities almost every trading day to catch market volatility (aka a lot of pips!) kicked off by an economic news report.

you can gather more information on :
http://forexgen.com/level-5-professional/trading-the-news.html

Trading the News

Trading the news is becoming a popular technique to trade the forex markets … and why shouldn’t it be? Time and time again you see currency pairs move 50 to 100 pips within minutes or even seconds after a major news release. When you see that, I bet you’re thinking, “50 to 100 pips!? That’s easy money!” Maybe it is, and maybe it isn’t. It all depends on how prepared you are to trade a news release.

The goal of this lesson isn’t to give you a specific “Trading the News” strategy. The goal is to point you in the right direction and show some of the risks involved with trading these events, because here at BabyPips.com, we want to help you help yourself in developing your own methods that fit YOU best.

MACD

MACD is an acronym for Moving Average Convergence Divergence. This tool is used to identify moving averages that are indicating a new trend, whether it’s bullish or bearish. After all, our #1 priority in trading is being able to find a trend, because that is where the most money is made.

With an MACD chart, you will usually see three numbers that are used for its settings.

* The first is the number of periods that is used to calculate the faster moving average.
* The second is the number of periods that are used in the slower moving average.
* And the third is the number of bars that is used to calculate the moving average of the difference between the faster and slower moving averages.

you can learn more about MACD on : http://forexgen.com/level-2-forex-basics/macd.html

Stochastics

Stochastics are another indicator that helps us determine where a trend might be ending. By definition, a stochastic is an oscillator that measures overbought and oversold conditions in the market. The 2 lines are similar to the MACD lines in the sense that one line is faster than the other.

you can read more about stochastics on :
http://forexgen.com/level-2-forex-basics/stochastics.html

Demo Trading

You can open a demo account for free with ForexGen. This account has the full capabilities of a "real" account. Why is it free? It’s because the broker wants you to learn the ins and outs of their trading platform, and have a good time trading without risk, so you’ll fall in love with them and deposit real money. The demo account allows you to learn about the Forex markets and test your trading skills with ZERO risk.

YOU SHOULD DEMO TRADE FOR AT LEAST 2 MONTHS BEFORE YOU EVEN THINK ABOUT PUTTING REAL MONEY ON THE LINE.

I REPEAT - YOU SHOULD DEMO TRADE FOR AT LEAST 2 MONTHS BEFORE YOU EVEN THINK ABOUT PUTTING REAL MONEY ON THE LINE.

"Don't Lose Your Money" Declaration

Place your hand on your heart and say...

"I will demo trade for at least 2 months before I trade with real money."

Now touch your head with your index finger and say...

"I am a smart and patient Forex trader!"

you can gather more information on : www.forexgen.com

How To Earn Money Trading Forex

In the FX market, you buy or sell currencies. Placing a trade in the foreign exchange market is simple: the mechanics of a trade are very similar to those found in other markets (like the stock market), so if you have any experience in trading, you should be able to pick it up pretty quickly.

The object of Forex trading is to exchange one currency for another in the expectation that the price will change, so that the currency you bought will increase in value compared to the one you sold.

Example of making money by buying Euros :

Trader's Action EUR USD

You purchase 10,000 euros at the EUR/USD exchange rate of 1.18 +10,000 -11,800*

Two weeks later, you exchange your 10,000 euros back into -10,000 +12,500*
US dollars at the exchange rate of 1.2500.

You earn a profit of $700. 0 +700
*EUR $10,000 x 1.18 = US $11,800
* EUR $10,000 x 1.25 = US $12,500

An exchange rate is simply the ratio of one currency valued against another currency. For example, the USD/CHF exchange rate indicates how many U.S. dollars can purchase one Swiss franc, or how many Swiss francs you need to buy one U.S. dollar.

New to Forex Markets

Forex is definitely one of the most exciting and profitable markets. If you want to join the elite and start investing you need to follow 5 very simple steps that will eventually lead you to success:

Self Study:
In order to start investing you need to study and observe the Forex market carefully so that you can make the right decisions when the time comes.You can study the fundamental analysis to monitor the political and economic news' effect on FX market. Also the study of technical analysis is useful as it predicts the price movement based on past experience.ForexGen offers a Training section developed specially for new traders. This section mainly contain comprehensive summarized documents teaching you how to deal with the Forex market and what procedures you need to follow in order to minimize the risk.

• Practice:
ForexGen's Demo account gives you the chance to practice your Forex trading skills with absolutely no obligation on your side. You will also be able to learn how to virtually place market orders and stop-loss orders without risking a penny.

• Investment Strategy:
After gaining enough knowledge about the Forex market, you are ready to start putting a strategy for your investment. First thing you should do is make sure not to let your emotions get in the way of your strategy as it’s a common mistake made by new traders.Secondly you need to make some decisions like how much you are willing to risk, if it's worth risking, if the market is suitable for that kind of investment and finally you always have to be aware of the amount of money you are risking and if you have enough funds to maintain your margin.

• Observation:
Once you have started your investment, you are now capable of being automatically connected 24/7 throughout ForexGen's new trailing stop software. Trailing stop allows you to control your balance 24 hours a day.

• Open your live account now:
Knowledge, practice, strategy and tools. You are definitely ready to start your investment by opening your first live account. Not like the demo account, you will now start committing real money. Just remember to stick to your strategy.

ForexGen Academy

ForexGen Academy was created to introduce novice or beginner traders to all the essential aspects of foreign exchange, in a fun and easy-to-understand manner.

No hard expressions, no buzz words, and no rocket science language is used throughout
these lessons.

Here is all what is needed to
create the ultimate business:

* Yourself
* Your computer
* Internet connection

That’s it! No employees. No advertising. No cold calling. No inventory.
Imagine a business with just you, your computer, and a high-speed Internet connection?!
That’s all you need trade in the foreign exchange market!!
A properly trained Forex trader can potentially earn BIG PROFITS in every single month,
week, or day!
(Of course a poorly trained Forex trader can suffer BIG LOSSES as well.)

you can learn more on :http://forexgen.com/forexgen-academy-18.html

trading limitations

ForexGen at any time, in its sole discretion, may limit the number of positions which Customer may maintain or acquire through ForexGen, and is under no obligation to effect any transaction for Customer’s accounts which would create positions in excess of the limit which ForexGen has set. Customer agrees not to exceed the position limits established for any contract market, whether acting alone or with others, and to promptly advise ForexGen if Customer is required to file any reports on positions.

ForexGen preserves the right to cancel any transactions found to be erroneous because of the market volatility, failure in the software or hardware of the trading platform or the connected parties. This cancellation is done without consulting with the Customer. The Customer hereby agrees on accepting the consequences of such cancellation either on, or against his favor.

ForexGen Preserves the right to ban any Customer from its trading platform, suspend any accounts temporarily or permanent at any circumstances where the account was suspected to perform one or more of the following forbidden activities:

- Illegal pip hunting.
- Illegal scalping.
- Multi IP login at the same time.
- Suspicious hedging of the same currency.
- Harmful strategies.
- Expert Advisor that are not approved by ForexGen.
- Security threatening activities.
- Any other hostile activities that threatens ForexGen, its customers, business partners and counter parties.

ForexGen risk management office has the right to estimate the risk scope and calculate the remaining funds to be paid out to the Customer after suspension. ForexGen has the sole right to cover its losses caused by the over mentioned activities prior to the suspension
you can learn more about the trading limitation http://forexgen.com/content/view/47/87/

Customer Agreement

ForexGen presents specialized Forex online trading services. We support trading in variable currency pairs, available services 24 hours a day most of the week. Real time prices are supplied to facilitate the trading and make it more quick and efficient. Our trading terms & conditions are the most competitive trading terms & conditions for various trading kinds which represent our appreciation to every client starting from the smallest customers. ForexGen is re-setting professional trading technology, by a continuously tracing the competence offers and modifying our trading conditions and provided platforms.
* ForexGen is providing an Executable Quotes which appears directly once the trader click the current bid or offer in the Forex trading platform. The orders aren't checked manually to prevent undesired price quoting. The bid/ask spreads (2 to 3 pips in the major currency pairs) are most of the time stable, and never freeze the prices in any situation.
* ForexGen is permitting the immediate orders implementation with complete Confirmations and real time margin checking. In addition, automated fills are provided for all market orders.
* At ForexGen filling the orders is instantly and accurate without difference between the quoted price and the execution price. In addition, Provided Stops and limits have no slippage. Generally we assure and guarantee that under all situations except the most unexpected volatile condition.
* The bid and ask prices usually modified, to buy the client's ideal support in taking the buy or sell decision. In addition to posting our bids and offers frequently at any market condition, giving you a fair chance to trade during important news events. Other TSPs don't allow you to trade on big market making news -they freeze their prices or widen their spreads when the market is volatile. At Forex Gen, we never freeze our prices.
* ForexGen Advanced trading tools are at the client's reach, providing modified up to minute news, supports reporting each day & each week plus alerts of the real time trade.

you can read more aboutcustomer agreement on http://forexgen.com/content/view/47/87/

Risk Warning

According to the International Trade Commission foreign exchange trading is a highly risked prospect which is not appropriate for all investors as any currencies transaction is exposed to a risk. Forex Trading is a risked opportunity where returns exceed the average only with those investors with the experience and the required knowledge.

Online trading in Forex market should be proceeded by principal factors that must be considered carefully such as the objectives and scope of investment, adequate level of experience, and psychological self control. A loss should always be affordable before deciding to make a trade.

The turbulent and volatile nature of the Forex market proportionally affects the deposited funds which might affect it positively or negatively. The possibility that you could sustain a total loss of initial margin funds and be required to deposit additional funds to maintain your position.

Failure to watch margin calls within the time frame, will result in liquidation of the positions and trader will be responsible for the loss occurred by this liquidation.

Trading without a well built strategy and money management policy is a highly risked practice.

The main reason that most traders lose their capital is that $the traders are not able to understand the real nature of the market in which they are operating.

As stated by the Australian Trade Commission trading in the Forex market usually requires a tremendous level of understanding and self discipline to achieve success and profitability. It also requires the consistent application of well tested trading strategies and rules, with solid commitment. A trader should always comply with the rules and legalization made by the local authorities.

you can learn more informations about risk warning on http://forexgen.com/content/view/49/89/