INVESTMENT SCAM FOR DUMMIES.......The current and latest. Being undertaken by almost 50% of licensed commodities firms in the U.S. They form different corporations and set out to loot investors. FOREIGN EXCHANGE, AKA FOREX, is the game and you cannot possibly last more than a few months. Unregulated so they can lie their asses off. Latest is the largest clearing firm in the world, Refco. They will take accounts as low as $3,000. Let us pretend you fall for the very good sounding pitch and jump in for $5,000.

They use a completely untried trading system that is only back tested; meaning that all records of "huge profits" are fitted to a prior performance matrix. They charge $100 per month to "rent" the untried system and $5 round turn per trade; the "system" trades 200 plus trades per month. So your commissions and fees run $1100 per month or 22% of your original capital on a $5,000 account. It will trade 400 times per month on a $10,000 account, and so on forever. You will not last more than six months. This entire scam is ignored by regulators so you have nowhere to turn when you discover you have been robbed.

We ran the numbers on 14 other systems. Many are worse, none are better. The only way you can "win" is with a $100,000 account with limits on the number of trades. This scam is growing like wildfire. There are no solicitation rules at all. Keep in mind the "Don't Call List" is a total sham. Try complaining. Our government has made it next to impossible to complain.

WHAT ABOUT "COMMISSION FREE" TRADING??? A come on and a joke. Markets trade 24 hours per day, every day but Saturday and Sunday AM. Commission free trading requires the "investor" to be on the alert for 24 hours every day but Saturday and Sunday AM. The system will beep you in the middle of the night, middle of dinner, etc., so you can trigger the trade yourself. Within three days you will be at the doctor for exhaustion. Don't fall for it.

Just say no and get off the phone. The most misleading pitches ever. Criminal. And our government just keeps on keeping on.