scamFRAUDalert see it appropriate to issue this ALERT regarding Forex Monthly Income Fund. The website claim to operate out of Florida and the WHOis is private. Investors need to exercise care and caution.
Forex Monthly Income Fund
801 Brickell Avenue Suite 900
Miami, Florida 33131
The foreign exchange market (forex, FX, or currency market) is a global decentralized market for the trading of currencies. The average individuals are warn to stay away from getting involved.
The US Commodity Futures and Trading Commission issued this warning:
The advertisements seem too good to pass up. They tout high returns coupled with low risks from investments in foreign currency (forex) contracts. Sometimes they even offer lucrative employment opportunities in forex trading.
Do these deals sound too good to be true? Unfortunately, they are, and investors need to be on guard against these scams. They may look like a new sophisticated form of investment opportunity, but in reality they are the same old trap—financial fraud in fancy garb.
Forex trading can be legitimate for governments and large institutional investors concerned about fluctuations in international exchange rates, and it can even be appropriate for some individual investors. But the average investor should be wary when it comes to forex offers.
The Commodity Futures Trading Commission (CFTC) and the North American Securities Administrators Association (NASAA) warn that off-exchange forex trading by retail investors is at best extremely risky, and at worst, outright fraud.