Fake Prop Firms: The Fee Farm Trap
Some firms live on challenge fees, not trader payouts. Learn the fee farm model, the reset loop, and four checks before you pay.
By Iriss Lee · 24/09/2026
Risk warning: Forex trading carries a high level of risk and may not be suitable for all investors. You may lose more than your initial deposit. Past performance is not indicative of future results.
Warning
Prop Firm Drawdown Rules: Why Most Fail Early
Daily loss -5% and total loss -10% end most challenges on day 2 or 3. See how equity floors work and why lot size decides.
By Iriss Lee · 24/09/2026
Fake MT5 Apps: How Clone Scams Steal Logins
Fake MetaTrader 5 apps on stores and Telegram clone the real thing to steal your broker login. Here is how to check an app before you install it.
By Iriss Lee · 21/09/2026
Forex Academy & Mentorship Scams: Education or Sales Funnel?
Paid forex academies and 'mentors' promise income and sell certificates. Here is how to separate real education from a sales funnel before you pay.
By Iriss Lee · 21/09/2026
Forex Recovery Scam: The Second Trap After You Lose
Agents on WhatsApp and Instagram promise to recover money you lost to forex fraud. They collect a fee, then vanish. Here is how the second trap works and how to spot it.
By Iriss Lee · 21/09/2026
AI Trading Bots: What the Ads Hide
TikTok and Telegram sell forex robots that 'never lose'. Most show a backtest, not proof. Here is how the pitch is built and what to check before you pay.
By Iriss Lee · 13/09/2026
Prop Firm Challenge: What Your Fee Really Buys
Prop firms charge a challenge fee but you do not own the account. Most fail and lose the fee. This is what $57 actually buys you.
By Iriss Lee · 11/09/2026
Forex Scams in Lagos and Abuja: Real Stories, Real Losses
How forex scams work in Lagos and Abuja — fake profits, WhatsApp agents, and personal bank accounts — and how to avoid them.
By Iriss Lee · 01/01/2026
Signal Seller Scams: Why Free VIP Groups Drain Wallets
How free forex signal groups on Telegram/WhatsApp make money from your losses and why beginners should avoid them.
By Iriss Lee · 01/01/2026
Unregulated Broker Scams: How Nigerians Lose Money
Warning for Nigerians: how unregulated broker scams work in Lagos and Abuja, red flags to spot, and how to check a licence before you fund.
By Iriss Lee · 01/01/2026
Withdrawal Problems: Why Your Profit May Stay Stuck
Why withdrawals fail in Nigeria — blocked docs, bonus traps, and unregulated brokers — and how to test early.
By Iriss Lee · 01/01/2026