After a few...especially trying...interactions with unhappy ban recipients today, I thought it would be fun to share a little info on what moderators do to keep this place clean. :)
The forex industry is full of shady characters. Any industry sitting on the intersection of financial independence, work, and money, is bound to attract them.
There are many reasons for this; the lower barrier to entry compared to other markets, the lack of public knowledge on the subject, and greedy human nature to name a few. Moderating a subreddit dedicated to forex (or anything trading realted for that matter,) presents extra challenges beyond your regular sub. Marketers and scammers are super motivated, and MLM / referral marketing is extremely popular right now, which can turn everyday regular users into sources of spam.
How we currently tackle this problem involves technology (scripts, bots, and automod,) a mod review workflow, and some smart sleuthing when needed.
The mod team and our scripts aren't perfect though... but the few false positives we get are a very, very small fraction of all mod actions taken (~1%.) Unfortunately, that means some otherwise sincere members get handled roughly, and that can really suck.. I wish there was a better way, but the alternative is this place becomes a wild west and starts looking like your gmail spam folder.
That said, here's my personal stats for
JUST the last 24 hours:
- Bans: 14 [edit: 16 now before day's end, two more responding to a 'where can I learn how to trade' post.]
- All mod actions (including bans, post and comment removal, etc..): 63
- Ban appeals: 2
And I'm just
one of the mods. . .
So what scammer and marketing trends are we seeing lately?
- Content marketing - Infographics with instagram handles watermarked in them, or a blog-like post with a embedded links to their own site.
- Personal/direct selling - trying to move the conversation out of public view, usually by taking things to DM, or promoting a 3rd party chatroom where the rules here no longer apply.
- Shills - Fake accounts used to boost the credit of another user, or service. It's no coincidence that a user asking about 'ULRA PRO SIGNALZ' will quickly have 5+ replies by low karma, new users, saying how great the service is. [edit: here's an example I just caught..]
- Fake P/L Porn - We see this quite often. It's easy to fake MT4 account statements and MT4 Mobile screenshots, and new users can't tell the difference so these posts will get a lot of undeserved attention. When people ask how OP made such mad cash, a sales pitch is usually coming right up.
Honestly, it can be really frustrating at times.. luckily the scripts we have in place make weeding out ~80% of these jokers quite easy and quick.
Heck, we had one scammer who blew through 12+ accounts over the last few days trying to scam people but none of their posts ever saw the light of day thanks to the spam triggers I've written. What motivates the mod team to keep this place clean? That's an easy answer: The majority of users here are new to trading. Making sure they aren't food for the wolves is important.
But even with all the measures we take, some bad actors still get through.
So here's where you can help:
Use the report button! Anytime you see something that you think fits the descriptions listed above, or violates our sidebar rules, just report it. Even if you're not 100% sure, don't be afraid to use the report tool.. The worst thing that can happen is the mod team reviews and approves it, but the best outcome is you directly help keep this place clean and humming! :)
And the mod team is always looking to improve where it can: I've already talked about what we do to scrub away bad actors, but one place we could do better is education. The plan is to rewrite a good portion of the wiki to include the following sections:
- Spotting scams and scammers
- How to properly compare brokers and regulatory bodies
- The real reason why your old high school friend wants you to sign up to IML, and 10 ways to politely tell him to pound sand
- No, that hot instagram model won't sleep with you if you buy her online course
- Why all signal services are trash and can die in a fire
(Titles above are a work in progress ;P) Are you a good writer and want to help out with this? Think you can write up a killer wiki article on spotting scam artists? Message the mods and let us know!
Finally, a reminder, we are still interested in taking on more moderators and will be revisiting that very shortly. If you'd be interested, read through this post and reply accordingly:
https://www.reddit.com/Forex/comments/h7ok6k/seeking_more_mods_recruitment_thread/ submitted by Knowledge to Action are a supposed Forex Trading eduction insistute. I feel like an idiot and I wish I had of done my research before handing over my credit card to these utter scam artists. All you need to do is Google Greg Secker their CEO or their business name Knowledge to Action and you'll even see taht at BBC have an article about this Knowledge to Action forex trading scam. Welcome to our blog on forex trading for beginners, written for individuals who desire to explore the currency markets and develop a secondary source of income that’s reliable as well as consistent. Here are my forex signal ratings containing all of the forex signals that I have reviewed over the years. Each forex signal rating includes a brief description, overall rating and link to the forex signal review or website. The best Forex Robot in 2020” review is online. We’ve introduced to you a lot of Forex robot reviews during 2019. It’s time to wrap everything up that we know about the best fully-automated robots in the ultimate top-9 chart. You can easily pick any of them to try as the leading profit provider for the rest of the year. On the Forex Store they link to the product as “the developer’s website,” but they are linking to their own site. It’s not a major concern, but we still aren’t exactly sure who run the Forex Store website. Contents. 1 Forex Truck Review. 1.1 Trading Strategy; 1.2 Robot Analysis; 1.3 Trading Results; 1.4 Conclusion; 2 Forex Truck. 2.1 Price; 2.2 Strategy; 2.3 Results; 2.4 Feedback; 2 ... Live Forex Analysis, Currency Rates, Economic Calendar, Technical Forecast, Fundamental News, Free Trading Signals. Best. USD Dollar, EUR Euro, JPY Yen, GBP Pound ... Get Download Knowledge to Action – Ultimate Forex Profits, Ultimate Forex ProfitsTM has been designed to accommodate, the most serious...
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