What kinds of Forex Scams should I be aware of?

If you're reading this article, odds are you discovered the forex market in one of two ways:
1) As a financial instrument for investment and speculation -- an alternative to trading in stock (company shares) and futures contracts; or,
2) as a get-rich-quick scheme that you discovered from an infomercial, or colorful sales web page, that promotes massive gains using small initial deposits.

Chances are, if your case is the former (case #1), you understand that forex is a market driven by professional speculators and banks, and that your ability to trade in it is a great opportunity for anyone who is willing to put in the effort to succeed. You might even have a background in economics or business (although this is actually not a prerequisite for becoming a consistently profitable trader.)

Unfortunately, the latter (case #2) is becoming more common in the recent decade. In that case, you're more likely to have learned a lot of misinformation from ruthless marketers. So it's time to spread a little truth about one of the world's largest financial markets.