Before you start trading FOREX make sure you know exactly what market you are in. Very likely the best definition of
FOREX can be found at the INVESTOPEDIA website (quality information source for investors): "The foreign exchange (also
known as "FOREX" or "FX") market is the place where currencies are traded. The overall forex market is the largest,
most liquid market in the world with an average traded value that exceeds $1.9 trillion per day and includes all of
the currencies in the world." To add another view, here is how authors of the well known INVESTORWORDS lexicon define
FOREX: "An over-the-counter market where buyers and sellers conduct foreign exchange transactions, also called foreign
exchange market.
The Risks and Rewards of Payroll Cards
Martha C. WhiteMartha C. White RSS Feed
Dec 17th 2010 at 9:00AM
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Filed under: Banking, Extracurriculars, Career
a woman swipes a card into a machine - payroll cardsThe era of receiving a paper paycheck is rapidly becoming as
distant as the days when we relied on landlines for all our communication needs. To make things easier on workers --
and save a bundle on administrative costs in the process -- companies increasingly have been relying on electronic
payment methods. Many workers now are paid via direct deposit to a checking or savings account.
But for those who don't have, can't get or don't want a traditional deposit account, the option increasingly comes
down to a single choice: a payroll card, which is a reloadable debit card onto which a worker's funds are loaded.
According to the nonprofit organization Consumers Union, nearly $16 billion was loaded onto payroll cards in 2007, and
it's very likely that the numbers have climbed since then.
"With the advent of technology surrounding gift cards and prepaid cellphones becoming so prevalent, individuals are
more comfortable accepting payroll cards," says Bob Howe, former CEO of payroll card company Directo. These cards can
be helpful in that they're safer than carrying around potentially hundreds of dollars in cash and may help users avoid
as much as a 3% fee charged by a check-cashing storefront. But they're not perfect, and the legal gray area in which
they exist has some consumer watchdogs worried.
Sean Panizzi, branch manager at Teamtemps Personnel Staffing in Valdosta, Ga., says payroll cards were a lifesaver at
his business, which employs around 700 temporary staffers who work for clients in several Southeastern states. Paper
checks got lost in the mail or were sent to the wrong addresses, and they sometimes needed to be canceled, reissued
and overnighted -- at considerable expense -- when a client submitted the temp worker's hours incorrectly. About a
year ago, Teamtemps started offering the Global Cash Card, issued by MasterCard, to workers who didn't opt for direct
deposit. Panizzi says that workers loved the option, so much so that about 50% of them now opt for the cards.
Panizzi's company did a few things right when it started issuing payroll cards, according to the consumer advocates we
consulted. First, Teamtemps scouted out a card that even those without access to a bank could use without paying hefty
fees. This was a crucial step in picking a card provider, Panizzi says, since the company has many employees in rural
areas who would need to rely on ATMs to access their cash. (One problem with both prepaid and reloadable debit cards
is that there can be high fees for users who want to withdraw cash.) Teamtemps also got information about the card
translated into Spanish so workers who didn't have English as a primary language wouldn't struggle to understand how
the card worked.
Forex fraud is a growing problem. It can be found everywhere from boiler room scam artist's, to some guy you met at
the coffee shop the other day, even past trusted brokers and executives have been involved in forex scams. The most
common victims are the one's who think it will never happen to them. Though there is no guaranteed way to avoid forex
fraud, it is possible to trade, minimize the chance of becoming a victim of a forex scam, and prosper in the market
providing you remain diligent and alert in every decision you make. Don't let your hard earned dollars become an easy
profit for some forex scam artist, make sure any person you choose to do business with is duly regulated in the
country they operate from.link