How An Encounter With An MLM Forex Cryptocurrency Trader Changed My Perception

Let’s examine a recent interaction from a psychological perspective using the Theory of Self-Determination.

Lisa Bradburn
Apr 7 · 8 min read
Forex Trading MLM
Forex Trading MLM
Unimaginable and hypothetical wealth awaits according to Forex-Crypto Traders | Image By nullplus, Shutterstock

A Real-Life Scenario

LinkedIn Discussion thread
LinkedIn Discussion thread
LinkedIn Discussion 04–03–2021
LinkedIn Discussion thread
LinkedIn Discussion thread
LinkedIn Discussion 04–03–2021
LinkedIn Discussion thread
LinkedIn Discussion thread
LinkedIn Discussion 04–03–2021
LinkedIn Discussion thread
LinkedIn Discussion thread
LinkedIn Discussion 04–03–2021
LinkedIn Discussion thread
LinkedIn Discussion thread
LinkedIn Discussion 04–03–2021
LinkedIn Discussion thread
LinkedIn Discussion thread
LinkedIn Discussion 04–03–2021
LinkedIn Discussion thread
LinkedIn Discussion thread
LinkedIn Discussion 04–03–2021

Debunking The Scam

Forex itself is not a pyramid scheme. The foreign currency market is simply the market where the value of each currency goes up or down and can be bought or sold to make a profit. Banks and investors from all over the world trade it. As long as money exists, the foreign currency market will also exist. It is risky to invest in but learning how to trade with consistency and effort can work out in your favor.

Now, there are MLMs that promote forex and require you to recruit others to pay the monthly fee in order to use the program or courses in order to create another form of income. The recruiting and paying monthly fees to “learn” how to trade has nothing to do with the market itself.

These schemes coerce you into a multi-level marketing pyramid, rather than focusing on the reason you joined, in this case, trading forex. Most of your time is spent recruiting new members into the company because you are incentivized by earning affiliate commission under a pyramid structure.

If it seems too good to be true, it probably is.
If it seems too good to be true, it probably is.
Words of wisdom | Image from Lisa Bradburn

The Theory of Self-Determination

Human beings conduct their behaviors according to their own interests or the external benefits. Based on different reasons and goals, motivations that guide people’s behavior are distinguished into two types: intrinsic motivation and extrinsic motivation.

How To Detect And Avoid Forex Cryptocurrency Scams

Reporting a scam artists on LinkedIn
Reporting a scam artists on LinkedIn
Reporting a conversation on LinkedIn

Resources:

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Lisa Bradburn

Written by

Agile Coach and Psychotherapist-In-Training at the intersection of technology and the human condition. Let’s chat: lisabradburnmedium@gmail.com

BeingWell

BeingWell

A Medika Life Publication for the Medical Community

Lisa Bradburn

Written by

Agile Coach and Psychotherapist-In-Training at the intersection of technology and the human condition. Let’s chat: lisabradburnmedium@gmail.com

BeingWell

BeingWell

A Medika Life Publication for the Medical Community

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