Tai Lopez Scam
- How To Identify Seasonal Patterns in The Stock Market - September 16, 2020
- The Best Way To Manage Risks in Trading - August 26, 2020
- How To Make Trading Less Complicated - June 29, 2020
Is Tai Lopez a Scam? Get the Facts
One of the most popular things people search for online is whether Tai Lopez is a scammer or not. Some people want to know how he made money, whether … Tai Lopez is a professional Internet marketer known for flaunting his extravagant lifestyle online. He is also known for his participation in the popular TEDx talk show. During one of his interviews, Lopez said that he reads one book daily all year long.
Tai Lopez has been a controversial figure on the Internet for various reasons since he surfaced in 2015. At first glance, the life he portrays on the Internet is quite fascinating. He always shows off expensive properties, including estates worth millions of dollars and amazing car collections. However, after a thorough investigation, it was revealed that the self-acclaimed Internet millionaire rented these properties for the sole purpose of making videos on social media platforms to manipulate the public.
There is also a rumor that he offers to teach students how to make millions of dollars and advertise products on social media platforms in a bid to create a scamming network for those who subscribe or buy his life coaching products. Lopez initially started earning significant sums of money from his fleet of fake dating websites which he used to scam unsuspecting individuals by faking matches and prompting people to sign up for a premium account.
Among all the various controversial articles on Tai Lopez scamming schemes, the one people are most familiar with is the Tai Lopez Forex Scam. After detailed investigations about his way of life surfaced on the Internet, the top search suggestion about Tai Lopez on different search engines became “Tai Lopez Scam.”
Tai Lopez Forex Scam
Forex is a form of foreign exchange. It includes all aspects of buying, selling, and exchanging foreign currencies at determined prices. Unfortunately, many people have used this innovation to scam others of their hard-earned money.
The forex market is said to be the largest financial market in the world as 5 trillion in stock trades are processed every day. Although the financial gain of the forex market is lucrative, trading is not easy. If you want to succeed, you need to receive education about risk management techniques in forex trading.
Unfortunately, some individuals have scammed and are still scamming others in the space. As schemes are evolving, scammers are also nearby trying to extort money from new forex traders. A lot of people consider Tai Lopez, a forex scammer due to his different use of questionable forex marketing strategies and his tendency to tell lies for personal gains.
He has been criticized countless times because of the false forex market predictions he sells on social media. Clients who pay for these services lose huge amounts of money in the forex market. The first step to protecting yourself from the Tai Lopez scam and other similar scams is to learn as much as you can about them. Most investment scams like forex scams are targeted towards beginners. Some of them include:
- Forex signals seller scams – This primarily involves individuals who send out fake trading ideas. The trading ideas could be anything from entry prices, currency pair, stop losses and target level to traders. They ask for subscription fees, send broker tied signals, and send unverified trading results.
- Phony forex trading investment scams – Nowadays, different adverts are promoting phony forex trading investment funds. People like Tai Lopez showcase unverified forex funds showing the world how wealthy they’ve become from the forex market. They make it seem like forex trading has no risks and offer to teach new traders how to become rich with forex.
- Forex robot scams – Forex robots use an algorithm of computer code. It was launched to help traders enter and exit trades even when they are not physically present. However, scammers have used this system to manipulate traders, assuring them of %100 profit guarantee.
- Email spam personal information scam – This method is used by forex scammers to acquire personal information from potential forex traders. Emails are sent to the victim to verify their trading account by submitting their credit card details to the scammer unknowingly.
Tai uses phrases like “How to make money online,” “ways to become a millionaire,” and many other eyes catching phrases to lure unsuspecting individuals into his Web of scams. Tai also sells books, makes several podcasts, runs YouTube, Facebook and Instagram ads to advertise his products to people.
How to Avoid Forex Scams
Forex scammers like Tai Lopez, usually present you with the guarantee of unusually large profits with little or no financial risks. Some of them present individuals with attractive and sound offers which are hard to resist, especially to newbie traders. But as the saying goes, the only free cheese is in the mousetrap. These are few following ways to avoid forex scams;
- Do not open an account with any broker or forex company that is not registered with the required regulatory body.
- Beware of software that allegedly contains a secret forex formula.
- Do not believe empty promises that you can become a millionaire overnight.
- Try not to install forex software that will be harmful to your computer.
- Avoid emails that offer false links to making quick money.
- Enlist in legit forex courses for further understanding of the forex market.
If something is too good to be true, it is most likely a lie. While it’s true that forex trading is a great passive way to make income, it doesn’t come without its risks.
There’s no such thing as %100 guarantee because the forex market is spontaneously evolving. If there is %100 guarantee, there’s no way forex traders will share it with other players. They will be no reports of major losses due to wrong trading moves or information.
It is uncertain if Tai Lopez and other forex scammers will stop the forex scamming anytime soon. So, it is better to be on the safe side by educating yourself about the forex market before you start trading. Irrespective of how much education you receive about forex trading, there will always be a risk attached. Keeping this in mind will help you cope when you make choices that don’t benefit you while trading.
Is this your final decision?
We suggest you visit one of the most popular trading platforms instead!
7 Binary Options review: Tai Lopez: 1 stars