Recently, an article on Bloomberg speaks of an Online Forex Investment Website that closed abruptly. The sudden closure of the website may cause all its investors to face a combined total of $1 Billion Dollars.
We may or may not have not been affected but there are many valuable lessons that we can draw from this incident.
Valuable Lesson #1
Think Multiple Times High When Returns are Promised - In the Bloomberg Article, it is said that investors will be able to earn 1% a day. That makes it 30% a month and 360% a year. This high amount of return on investment (ROI) is probably higher than the top fund managers can produce. Anyhow, scam investments usually draw people in by appealing to our greediness. So do think a few times if you come across any investment with exorbitant returns.
Valuable Lesson #2
Don’t Be Lured by Fanciful Marketing - In the marketing video below, you can see it is well filmed and gives people the feeling that it runs a big firm in a huge office. They also seem to have many testimonials in the video itself. There have been other investment scams that has also marketed themselves well by having Huge Fanciful Dinner & Dance, Free Travel Tickets, Beautiful Free Cars, Impressive Video Presentations, Numerous Upcoming Projection Plans and etc. Don’t let these be the factors that cause you to decide to invest in it. Always consider what are the steps that you will be able to take should a worse case scenario to happen. Do you have any collateral to hold on to protect your capital?
Valuable Lesson #3
If You Decide to Take the Risk, Invest With Money You Are Able to Say Goodbye to – If for some form of reason, should you feel that you would like to invest your hard earned money to get rich quick, invest with money that you are prepared to lose. Never never ever, take a loan to go into an investment like this. For you will be putting yourself in GREAT risk and you will not be able to sleep at night.
Valuable Lesson #4
They Run Promotions to Suck More Investors In – Often times you will see promotions appearing in order to draw more investors in. Such as offering 2% instead of the usual 1%. Again, do not enter into an investment just because a promotions is running for a limited time only. Always consider the risk and do not let your emotion get the better of you. The right opportunity will always be there for you to grow your money. Opportunities are always there all the time. You may have an inner voice saying “but this opportunity doesn’t come often, i must grab it!” Stop and think and cool down before making any decision. We always make bad decisions when we are angry or when we are overly excited. So calm down and you’ll be able to think soundly.
Valuable Lesson #5
They Start Giving Excuses When It’s About to Die – It is also mentioned in the bloomberg article that when one of the investors Mandal wanted to withdraw his funds, the company told him that they were facing with some technical glitches. Similar to other investment scams, they would give excuses in order to buy time for themselves. Probably time for them to shift the funds to prepare to from themselves to perform the great Houdini Magic Trick.
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