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Have You ever fallen victim of scam forex broker?


Madly Diligent
Verified Poster
Jul 18, 2022
It is very important to be cautious of fake forex brokers because they have flooded internet. They do not have licence to offer trading services but they operate because people do not carry out due diligence in order to confirm their legitimacy m.
I agree with you @Potuse that it is very important to be cautious of fake forex brokers, as they can cause you to lose your money and trust in forex trading. Fake forex brokers are those who do not have a valid license or regulation from a reputable authority, and who may engage in fraudulent or unethical practices, such as manipulating prices, charging hidden fees, refusing withdrawals or disappearing with your funds.

Fortunately, I have never fallen victim of a scam forex broker, as I do not trade forex myself.
Frankly speaking, I have never become a scam forex broker. That might be because I do not necessarily engage with forex trading, and I am mainly concerned with long term investment.
There was a time I nearly fell victim to one, but I was saved because I went online to read the reviews about it. That is why it is important to do your research about brokers before you deposit.
No, I have never fallen victim of scam forex broker.
I always ensure to do my research and check for reviews before using a forex broker.
Most time, I only go for reputable forex broker that has been around for a long while.
I have not fallen victim of scam forex broker because I make sure to carry out proper examination before choosing any broker . Ultimately, traders should look at the legitimacy of a broker before investing on them.