How do you know a scam forex broker?

[Lyrrex]

There are lots of complains on the internet concerning scam and fake forex brokers. So many people have lost heir earned money to fake brokers especially those who are new to forex trading. How can someone differentiate between unregulated broker from genuine brokers?

 

[Afrosense]

There are lots of complains on the internet concerning scam and fake forex brokers. So many people have lost heir earned money to fake brokers especially those who are new to forex trading. How can someone differentiate between unregulated broker from genuine brokers?

You will have to read their reviews on their website or app. There you can see the complaints from clients whether they re legit or not

 

[Lyrrex]

You will have to read their reviews on their website or app. There you can see the complaints from clients whether they re legit or not

yes but these days those scam sites even pay people to give them positive review and it's becoming very difficult to know which one is genuine everyday

 

[adazeez1995]

Never trade with a broker who offers bonuses. This is because bonuses come with strings attached but you wouldn't know until its time to collect your earnings, then it wouldn't be released, because you have already taken the bait.

 

[Yasmin]

Most of Forex trading happens in the spot FX market, which is different from the futures market, in that currencies are physically exchanged in real-time when a transaction is made. Whereas in the futures market, the date the trading price is determined and the date the currency is exchanged are different.

 

[Sarfraz Ali123]

One of the challenges a rookie forex investor faces is determining which operators to trust in the forex market and which to avoid. Signal sellers are one group of operators to consider carefully.

 

[Sariana23]

I don't know how possible it is to look for any reviews of forex brokers, their track record if they are rated by any category. My brother has been a forex broker for years and I have never asked him. I thought those sites were limited to banning frauds and expelled brokers like that.

 

[Ralphjoe]

Well when it comes to knowing an illegitimate forex broker, what you would look out for would be the review of that forex broker online by other websites and if the reviews online by other websites are not that reliable you can also check out the forex broker site to know the amount of people that are making use of the platform if the amount of people that are making use of the platform are few then the stock broker is definitely fake.

 

[DareIsrael]

The first thing you want to look for on a website is the https:// at the beginning of the address. The S in https:// stands for secure and indicates that the website uses encryption to transfer data, protecting it from hackers.

If a website uses http:// (no S), that doesn’t guarantee that a website is a scam, but it’s something to watch for. To be on the safe side, you should never enter personal information into a site beginning with http://.

 

[Setho]

Generally, to make money in forex, you should dedicate your time to learning instead of giving some scammers money. You can see them by them not using their original identity , demanding large sums of money and for ridiculous amount of returns.

 

[Setfragil]

The truth is most people that calls themselves forex brokers on the internet are not actually real brokers, sometimes the novice are better than them. We need to he extra careful when dealing with them. To know a scam broker's, we need to ask them of their past achievements with genuine evidence.

 

[Sincerem]

I don't know much about forex, but its good to make researches before going on using a particular broker to fund to trade forex most of them are simply scam.

 

[Alexandoy]

I think there are also scam brokers here although I have no proof, just a hunch. If ever I would buy stocks or forex I will only deal with a broker that is recommended by a friend or relative. I cannot trust a broker that I do not know especially if my investment is substantial in amount like $1,000 or more. Better to be safe than sorry.

 

[Franklinjoe340]

You can easily know a scam force broker by reading through its user reviews

 

[Sincerem]

Many unregulated trading broker is just surfacing trying to steal our hard earned income and offering us nothing when we use their broker to trade and become successful with trading. That's why i don't delve into any online site thinking its legit.

 

[Sheyemanu]

Well, in reply to your question in the above post concerning how to know a scam forex broker, I would personally advise that you don't go after these brokers that no one knows, just use the most popular and trusted brokers and you have no worries

 

[Sincerem]

Well, in reply to your question in the above post concerning how to know a scam forex broker, I would personally advise that you don't go after these brokers that no one knows, just use the most popular and trusted brokers and you have no worries

Very correct dear, your point is worthwhile. I don't find myself dealing on a broker that is very unpopular, cos it will be a risk to my treasury asset, during forex trading.

 

[Setho]

You should know that using a broker in itself is not guarantee of profit. You should instead take time to learn how to trade yourself and avoid all this scams.

 

[Jlife]

There is no way you can know about it except you read it their review online from trusted sites, the best thing you really need to do is to stick to the most popular forex brokers that is available, with this you will not be scam by fake ones.

 

[joy101]

To know scam on forex you have to do research so to find out, but don't really know more about forex broker, so before going into it you have to read about it,