Forex is a $4.2trillion daily business. No financial trading hub can boast of the kind of money that circulates in the Forex market. Given that a few years ago, the daily Forex turnover was just about 30% of today’s values, it is safe to say that in the next five years, we may see the daily turnover reach almost $10 trillion. With so much money floating around in one financial hub, it is not surprising that the Forex market will naturally draw out the human element of greed in some of its participants.

Of all the participants in the Forex market, the brokers are in a better position to profit financially. They make money from spreads and commissions generated by traders, irrespective of the market conditions. In a situation where there is a quest and accompanying pressure by humanity to live well and have the best that life can offer, it is not surprising that some brokers engage in practices that short-change clients and scam money off them.