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.An official of the National Futures Association was quoted as saying, "Retail forex trading has increased dramatically over the past few years.âIn August, 2008 the CFTC set up a special task force to deal with growing foreign exchange fraud. Often, the investorâs money is never actually placed in the market through a legitimate dealer, but simply diverted â stolen â for the personal benefit of the con artists. The U.. The North American Securities Administrators Association says that "off-exchange forex trading by retail investors is at best extremely risky, and at worst, outright fraud. Now if people go online, on non-bank portals, how is this control being done?". Currency trading "has become the fraud du jour," according to Michael Dunn of the U. A forex scam is any trading scheme used to defraud individual traders by convincing them that they can expect to gain a high profit by trading in the foreign exchange market. Commodity Futures Trading Commission. But "the market has long been plagued by swindlers preying on the gullible," according to the New York Times . Commodity Futures Trading Commission has prosecuted more than 80 cases involving the defrauding of more than 23,000 customers who lost $350 million.S.S. Unfortunately, the amount of forex fraud has also increased dramatically.Some more useful information on currency trading software online currency trading forex
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