• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
Trading Heroes

Trading Heroes

Forex Trading Education

  • Articles
  • Products
  • About
  • Resources
  • Login

The Anatomy of a Half-Assed Forex Scam

Home / Trader Life / The Anatomy of a Half-Assed Forex Scam

Last updated: August 11, 2022
By Hugh Kimura

Forex scam

My biggest pet peeve is all of the Forex trading scams out there.

Forex is one of the best markets to trade and these slimeballs take people's money before they ever have a chance at becoming successful.

The reason that there are so many scams in this market is because Forex was unregulated for a long time. Until about 2010, you could manage other people's money in the Forex market without a license.

Think about those possibilities.

Anyway, there is a certain individual that came up on my radar recently that is a perfect example of how Forex scams are set up. Hopefully this post will help beginners avoid such unscrupulous individuals.

For people who take things literally, I'm not actually telling you to do this.

RELATED: Positive affirmation tracks to reprogram your subconscious

I hate people like this!

The following is my way of making fun of how badly some of these scams are set up.

Step 1: Create a Fake Name and Back Story

The first thing that you have to do is create a believable name and compelling life story.

In this case, I came across a “person” named Adrian Shiroma. Luckily for Adrian, he is Japanese/Spanish, so most English speakers cannot understand his website enough to realize that it is BS.

I'm not even going to give the website the gratification of a direct link, so you can Google the name if you want to check it out.

Step 2: Setup a Free Blog

Yes, if you want to scam people out of millions of dollars, there is no need to spend $100 and get a real domain name and website hosting.

Just setup a free blog on Blogger or WordPress. Nobody will know the difference.

If you Googled the name, you will see the blog that I am talking about. He even uses a free Hotmail email account.

In all fairness, there was a very small chance that he is a real person, so I sent him an email. After all, I have been known to be wrong in the past.

So this is what I said…

adrian-shiroma

No surprise, but I didn't get a reply.  Probably because he speaks Spanish…yeah right!

There is a “track record” on his homepage going back to November 2009. But if you actually go back through his blog posts, they only show records going back to March 2011. That is half-assing at it's best.

The actual currency pair and prices are mysteriously blocked out and somehow the account always starts with $30,000 in it.

Hmmm….

In addition, there are is no account name or number on the statements that are posted.

It looks like a random report from Metatrader that could have been done in a demo account.

Step 3: Create buzz

Now go out and spam as many Forex blogs as possible. Here are the comments that were left on my blog:

adrian-shiroma

I left out the email address and IP addresses because I actually give a shit about privacy. However, they were all from the same email and IP address.

But they were clever and used different names. Important point there, be sure you are taking notes.

When looking around for proof that he won the Traders Marathon, I couldn't find it.

No surprise there either.

Great idea though.

In addition, if you Google Adrian Shiroma, there are a bunch of “interviews” on different websites like Baby Pips and Forex Banks. Well, actually it is the same interview, posted in different places.  Another key point, get the maximum mileage from your crappy broken-English interviews.

One funny thing is that if you look on his blog, he spams his own blog! There are multiple comments that are exactly the same.

Apparently he had some videos too, but most have been taken down. That is one area that you can improve on. Be sure to make quality videos.

However, I did find one on YouTube and it is pretty funny. I don't know Japanese (in spite of my name and 6 years of Japanese School) or Spanish, but I'm pretty sure that she never says Shiroma at any time in the “broadcast.”

Look carefully at the subtitles…you will see Adrian Shiroma come up a couple of times in the text, but she says “Yamanaka.”

The final thing to look for in the video is at about 0:53. The name Adrian Shiroma comes up with the Japanese characters under it, but they are wrong.

If you do a quick search for the Kanji, this is what Shiroma should look like.

Hmm….

Step 4: Take the money

Now, this is the easy part. Just get them to send you money.

I'm not exactly sure how he does it because I never got that far, but I'm sure it is pretty easy.

There you have it!

That is all it takes.

Pretty sad huh?

Why I posted this

Ordinarily, I would just ignore the spam comments on my blog. But in this case, the scammers did put in a little effort into this, so I want this to show up in Google alongside the name.

Actually, I want this post to outrank him for his own name!

Of course, experienced traders will recognize this as a scam right off the bat.

But beginners may fall for it, so…

Avoid Adrian Shiroma!

UPDATE (10/13/2012): There have been two more updates in this story with even more incriminating evidence, read them here and here.  Also I just found out today that they are writing false articles about me on the internet, saying that I have been convicted of unspeakable acts.

This, of course, is NOT true and is a weak attempt to get back at me for this article.

Related Articles

  • Best ways to make extra money5 Best Ways to Earn Extra Money
  • Best Ledger Nano X caseBest Case for the Ledger Nano X
  • Trader at computerIs Forex Easier Than Stocks? Not for These Types of Traders
  • How to choose the best computer for tradingHow to Choose the Best Computer for Trading Forex
  • Trading on iPhoneHow Much Money Do You Need to Swing Trade?
  • Broker stop huntingDo Brokers Hunt Your Stop Losses? No, But Here's Who Does
  • Trader on computerHow I Made +1,006 Pips (or 33%) On ONE Trade
  • What is a Forex Broker?What is a Forex Broker?

Category: Trader Life Tag: Adrian Shiroma, Trading Scams

About Hugh Kimura

Hi, I'm Hugh. I'm an independent trader, educator and researcher. I used to work at a hedge fund and the largest bank in Hawaii. Now I help traders optimize their trading psychology and trading strategies. Learn more about me here.

Don’t be satisfied with stories, how things have gone with others. Unfold your own myth.

- Rumi
You only need 1 really good trading strategy. Focus.

Primary Sidebar

Trading Guides

The Ultimate Beginner’s Guide to Forex Backtesting

How to Figure Out Your Trader Personality Profile

The Forward Testing Guide for Beginners

How to Create a Precise Trading Plan (with PDF worksheet)

Learn the weird trading method that doesn't use stop losses...

Forex Hedging Guide
FREE Guide
Download Now

Footer

Company

  • Trading Courses and Education
  • Trading Blog
  • About
  • Contact
  • Beware of Imposters

Community

  • YouTube
  • Twitter
  • Instagram
  • Facebook

Tutorials & Guides

  • Best Trading Resources
  • Free Forex Trading Course for Beginners
  • Free Backtesting Guide for Beginners
  • Trader Personality Profile
  • Best Trading Books

Articles

  • Backtesting
  • Podcast
  • Trader Life
  • Trading Psychology
  • Trading Software Tutorials
  • Trading Strategies

Trading involves risk and can result in the loss of your investment. Invest at your own risk. Past performance does not guarantee future results. All information on this site is for informational purposes only and is not trading, investment, tax or health advice. The reader bears responsibility for his/her own investment research and decisions. Seek the advice of a qualified finance professional before making any investment and do your own research to understand all risks before investing or trading. TrueLiving Media LLC and Hugh Kimura accept no liability whatsoever for any direct or consequential loss arising from any use of this information. You are 100% responsible for your losses...and gains. You are more powerful than you know, keep expanding.

 

Copyright © 2007–2023 TrueLiving Media LLC | Terms | Privacy | Risk

Learn Zen8 Forex Hedging

Hedging can be a low-stress and consistent way to trade. Enter your email and I'll send you the FREE guide. 

x