Dear Nairalanders,

With grieve in my heart I bring to your notice scam artists disguised as forex traders scamming innocent newbies forex traders of their money promising high profit return using their indicators, which they sell from 50 dollars and above, even as high as 500 dollars, of which in the end this indicators make you loose all your capital and they keep telling you that, you don't know how to use it. Please run away from them they are thieves. Many of them are not forex traders but simply selling indicators to make a living. They edit screen shot and show large sums of profit made, it is all fake. As a newbie in trading I fell victim of one CASHBOYFX parading himself as the 'the king of spikes', he claimed his indicator is consistent in making me profit, I purchased the indicator for 75dollars. I followed all his so called rules and ended up loosing all my account. I did not make any profit. I went back to him on whattsapp and explained everything, he said I should buy his BOT of 200 dollars for trading with the same promises of high return, I again bought this BOT. This time I used on my demo, after one week of trading, my account reduced drastically by more than 50%, then I knew this guy is a liar. I went back and chatted him on telegram and told him my experience, he said, there is a new version of his indicator, which works better than the first and that i should buy it. I was really pissed off. I told him to stop this fraud of selling indicators that don't work to unsuspecting buyers. I later deleted his telegram group from my phone. HE IS A THIEF! After wasting months and money on this indicators, I was still not a profitable trader. I started learning forex on my own on youtube and now I am far better off than before. Below are some screen shots of my conversation with cashboy fx. Please I did this to help newbies to avoid been tricked into buying indicators by these thieves and believing in this illusion of magic indicators, because they don't work and the sellers are thieves and liars. For those who have fallen victim to this kind of fraud call them out, so that others will not fall prey to these thieves.

What is his WhatsApp number?

cashboy whattsapp number 08168464496

Reading your comments as a Forex trader myself and as someone that works with a broker I would tell you that your laziness and greed made you commit funds to buy any indicators or signals promising high yields.

Why didn't you invest your time and energy to get proper training so that you can analyse the markets technically and fundamentally...you got yourself into this for not doing the right thing and looking for a short cut to make profits in the global market...it takes alot of time and consistency to start making money in the global market and that is why the wise ones that know they dont have the time and energy to do it themselves do commit their accounts to Professional fund managers that help manage their accounts.

Sorry for the loss but please next time try and get proper knowledge of the way the market works before trading live...this your headline is also very misleading as people would think forex traders are scammers...Cheers!!!