Sunday, December 4, 2011

Beware!!! Scammers in eToro Chat

On Friday night when markets closed I met a group of Pakistani traders on eToro chat. I added one of them on skype. We talked about trade and then today he said that he is going to tell me a secret but I should not tell this to anyone. I said OK. He asked me to let him to "manage" my Forex account so that he can make "grate profit" in it and we will share that profit later on (65/35). While in case of loss he will NOT share the loss. Instead he will like to compensate my loss within two days!
In times of financial trouble, the forex market is there for you! Open a forex trading account with eToro today to benefit from forex market volatility with the lowest spreads online.

I knew this is a scammer and because I have already lost a 1000$ in these so called "managed" (while in reality mismanaged) accounts. Due to this reason I wrote a post on my blog about this.
eToro is very good, simple and user friendly platform. Their chat feature is also very helpful for traders especially new ones. But there are people who try to abuse everything and whose minds are full of negative thoughts and they are dying to bring them into reality.
So my advice is never hand over you forex account to anyone to manage it. No matter how grate profits he is promising you.  Always trade yourself and use copy trade option to copy good traders.
Below are the screen shots of my conversation with him on skype:
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