Forex Scams: Things Can Get Really Ugly

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Valeria Bednarik, Chief Analyst at FXstreet.com has been a victim of identity stealing. An unknown individual opened up an email account that resembles her name, and is using it to sell forex signals. That’s ugly.

Not only is this person benefiting off somebody Bednarik’s reputation, but he is also damaging it: Bednarik doesn’t sell signals. So if you are approached with such an offer, you should know it is a scam.

We all hear about cases where dodgy people open up shop as forex brokers, and steal your money. Your deposit is their profit, and withdrawals are practically impossible. This scam not only hurts traders, but also the reputation of a highly regarded analyst.

In an emotional statement, Valeria Bednarik provides all the details and the story behind it.

In my opinion, forex signals should be taken with a huge grain of salt. If you are still interested in using signals, it is important to check out who stands behind these signals, and now it is apparently necessary to verify if the offer genuinely comes from the person claiming so.

The rapid growth in the forex industry brings highly innovative and exciting developments, as well as scammers. I hope that the maturing industry will manage to weed out these phenomenons and keep them at the sidelines.

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About Author

Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

7 Comments

  1. Pingback: Forex Scams: Things Can Get Really Ugly | Forex Tonight

  2. Bonnie Smith Forex on

    So sad, this fraud hurts not only to traders but it hurts too the reputation of an analyst.

  3. Pingback: English Speaking Club Forum » Blog Archive » Forex Scams: Things Can Get Really Ugly

  4. Francesc Riverola on

    Hi Yohay
    Thanks for helping us to spread the word…, it is sad indeed. I got a couple of e-mails from our users complaining about Valeria using her status to sell them signals… I could not understand why they were telling me that till Valeria found out from a user too what was going on… She and us where in shock and we have not given up yet to try to find the scammer.
    Thanks again
    Francesc
    FXstreet.com

  5. Valeria Bednarik on

    Hi Yojhay and TKS SOO MUCH for sharing this. I’m proud of my name, my dad’s name, one of the things that actually worth having in life. I have based my career on helping always as much as I can, and sharing my knowledge with traders without asking for anything in return. And I will keep on working as that, now with more aims and strength. That that doesn´t kill us, only mades us stronger 😉
    Tks again!
    Valeria Bednarik

  6. Thanks for your comments!
    Francesc, I hope the scammer will be tracked down, or at least stop his activities.
    Valeria, you should be proud of your name! I followed some of your webinars and they were excellent. I am sure that you will continue enjoying your well deserved repuation as an expert and that this identity theft scam will fade out.

  7. For me the strangest thing about forex scams is that I made a complaint to FBI this spring and I got no reply yet… Of course police in Romania helped me with nothing, they said the firm was american… but if there is no police at all about this activity, I don’t intent to really invest in forex market. I tested many brokers on demo or with small amonts of money, but I trust none. Sad, but very true. I want to thank Forex Crunch, my best teacher about forex, but I wanted to say that it is not a business for me and might never become such thing because this market is really unregulated.