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The internet has fuelled many new industries, one of which is the online forex trading industry (forex = forex exchange i.e. currencies). Once the domain of institutional traders, the internet has opened up forex trading to many public retail traders. Because of the structure and potential rewards of trading successfully, it has attracted quite a few scammers and spammers. Forex trading has been labelled as gambling - and it is (it is only detrimental to your finances if you don't act like a professional gambler by controlling the risks taken), and it has also been classified by some as a get rich quick scheme (which depends on your perspective - if you are trying to get rich from forex trading quickly then it is).

The forex trading spammers merely do the underhanded marketing technique of spamming multiple email boxes for the forex scammers. Watch out for programs and teaching packages which promise extraordinary returns. Remember: "He who can, does. He who cannot, teaches." If they can make 1000% each week, why are they sharing the trading strategy? if I can make that much money, do you think I'll I'd be sitting in front of a computer sharing the information through the kindness of my heart? I'd be in the Bahamas relaxing on a beach. Another consequence of sharing information like effective trading strategies may have a detrimental effect to the overall strategy.

These scammers are getting smarter. They are setting up elaborate, legitimate looking forex trading schemes. Some may be shell companies appearing to be forex dealers. Others providing support services. One such website network is: Forexbastards.com | Kingforexsignals.com | Secretnewsweapon.com | Secretforexsociety.com | Forexfreedom.com | Forexdiamonds.com | Forexpeacearmy.com | Forexpeacearmy.org forexpeacyarmy.com which are all run by Dmitri Chavkerov. While it is debateable whether or not he is a scammer, but according to multiple forums and websites he is under investigation. On Yahoo answers:

TOTAL SCAM ! I LOST MONEY WITH THIS GUY, he just got busted for online fraud by the FBI and other federal agency its in his nature to defraud and pretend to be what he is not. he was found in a tiny apartment , and his financial record reveal he lost most of his small account in trading years ago and almost all of his saving was from sales not trading, proof again he is not a real trader just another sales man selling dreams to new traders looking for hope ! i would not give this fool another penny of my money ! he lies about everything and hides the truth, there are way better alert service company's out there real alert services companies. i give this fraudster a big fat ZERO. he owns a ton of web-sites a classic scam tactic to flood a niche market with your web-sites so no matter what you buy it will still be from the same vendor what a sham ! the arresting agent [William James Cunningham ] Documentation of the current case can be found at: http://www.ice.gov/pi/news/newsreleases/articles/071129losangeles1.htm

i have always know this guy felix / dimitry of forex peace army was full of sh1+ since day one ! he used to sell forex affiliate programs for a few dollars of profit each i guess that was not working well, so he started making up b.s product i guess he got lucky on one of them and realized other newbies would believe his hype if his web-site looked slick enough. His Arch Enemy is Central Pips " a legitimate trading group i'm not sure why but he has hated them since day one, they where investigated because of his b.s and the cooperated fully and the conclusion was they where 100% legitimate but dimity still leaves negative **** about them on his site and has used his site to attack the crap out of them. even tho they where proved innocent, he even posted up some mug shot of some black guy , well ain't that funny cause we all now have a mug shot of his criminal girlfriend & him ! i cant wait to see them both deported out of this country ASAP. now that we all know where he lives ! :)

A list of convicted forex scammers:

• Russell Cline
• Russell Erxleben
• Richard Matthews, Jr.
• Joel N. Ward

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