Recently, many people have fallen victim to what we call “fund management” schemes. The idea is to collect money from many people and use it for trading on the Forex market. Usually, the donors lack FX experience. Thrilled by the promise of quick riches, they pass their funds to a complete stranger or a friend’s friend who looks and talks like an expert.
As a result, these investors often lose their money and start blaming this loss on their service provider or the market in general. That’s why we want to warn all Olymp Trade’s clients against this kind of outsourcing.
Why It’s a Bad Idea
There are 2 Big Reasons why you should avoid using a proxy:
- There’s no such thing as guaranteed profits in FX trading. The one who promises them is likely a scammer. Or a gambler. Or a dreamer. All three types are the world’s worst money managers.
- Even if they make profits with your money, they’re no guarantees you will pocket these gains.
BOTTOM LINE: Never trust strangers or people you hardly know with your finances and/or account info. Especially if they make you an offer that is hard to resist. If somebody is saying about thousands in earnings in a short time, be sure — you are dealing with a scammer.
Remember that Olymp Trade does not allow trading through intermediaries. It is clearly stated in our Service Agreement. So, we cannot be held responsible for losses this scheme incurs.
So, What Should You Do Instead?
There are no sure-fire ways to become rich through other people, but you can greatly increase your own profit potential.
Just follow these tips:
- Educate yourself about the market to make the most of it.
- Keep upgrading your skills and exploring the platform.
Remember to take advantage of Olymp Trade’s educational resources and articles.
Our experts will help you:
- Understand the basics of Technical & Fundamental Analysis;
- Master different Strategies;
- Learn to read Trading Signals;
- Make money on news, and more.
Bookmark our blog, subscribe to our social media, and regularly check the platform’s Help Center for updates.