How do you know a scam forex broker?

[GIFTMICHAEL]

When it is not popular among traders, having low trust score at trust-pilot, and other review sites. Promising easy ways to enable a trader to become successful trading via their platform without experience.

 

[eLdavis]

You cant actually tell legit from fake brokers as all of them look the same and even the fake ones looks more legit. The best thing to do is read reviews about these brokers and investigate others who have joined before, find out their experience

 

[Bousine123]

Firstly I go ahead and check the reviews of their customers, and I also check how long they have been existing and the level of spread they offer.

 

[Nurudeen]

The best way to know and identify a scam broker is to check the ROI they are paying out. In most cases a lot of them do promise ROI that is really not feasible to lure victims

 

[eLdavis]

Firstly I go ahead and check the reviews of their customers, and I also check how long they have been existing and the level of spread they offer.

This is indeed a good way, if they have been existing for a long period of time, then it's safe to say that they should have a lot of persons that are using their plathfrom, it would be easier to get reviews from them.

 

[Josemendez]

If the broker owns a private site or channel through which he deals with customers , it is likely that he can scam people as he is not registered nor monitored

 

[Richard92]

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,

You can be able to know a scam forex broker with the kind of profit margin he or she will give to you it will be very attractive.

 

[Ralphjoe]

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?

I think the only way that you can know a scam forex broker is by getting feedbacks from other people data into the forest business and then making sure that it is only the new popular forex brokers that you will patronize.

 

[Godspower]

You have to find out about the person you're going to be dealing with by checking reviews about him. If there are no reviews at all, it is possible that it is not legit. Also avoid dealing with people that offer unrealistic bonuses.

 

[Kaffyfolla]

A popular modern-day scam is the signal seller. Signal sellers are retail firms, pooled asset managers, managed account companies, or individual traders that offer a system—for a daily, weekly, or monthly fee—that claims to identify favorable times to buy or sell a currency pair based on professional recommendations that will make anyone wealthy. They tout their long experience and trading abilities, plus testimonials from people who vouch for how great a trader and friend the person is, and the vast wealth that this person has earned for them. All the unsuspecting trader has to do is hand over X amount of dollars for the privilege of trade recommendations.

 

[kinqzbitz]

Well I don't really know how to actually tell the difference between the scammers but then it is something I would like to look into so it will help me a lot in differentiating

 

[Sotherefore]

You have to read a lot of review about them on the internet but I don't really know how you can be able to identify them perfectly because I am not into Forex, lets hear what forex trader have to say.

 

[Justin]

I know know how you can spot scam forex broker, but I know how you can go to a legit forex broker. Do a google search, and visit the website from the top search results.

 

[Good-Person]

I have never dealt in forex and I have always preferred cryptocurrencies. As far as I am concerned, I am dealing in cryptocurrencies using a regulated exchanger called Payeer.

 

[Robust]

I don't really believe that a can know a scammer except your are more wiser than the scammer. So one need to know something things to over the the scammer.

 

[YERUS]

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?

Most times it is difficult, i must state.
There are a lot of forex brokers out there that are scammers.
One of my friends who is a forex broker even got scammed by another forex broker.
Best thing to do is make enquiries properly before handing over your funds to someone.

 

[Ghost]

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

Lol. I remember a task I was given in one of these online money making platform. I was to make a good review on products I have never even used. Reviews these days are misleading

 

[Toyoabasi]

If there is a way to research about the forex broker or read reviews about the broker, then it would be a good way to know the scammers. I don't know if this is even 100% efficient, because these scammers can devise all sorts of means.

 

[Nomad]

I am not into forex, therefore, I am not aware how you can spot a scam forex broker. However, I can suggest you how not to get scammed. You need to do research and take recommendations.

 

[Elfinito]

First they promise huge bonuses on our first deposit.
And their site always seems to be sketchy because they don't want to spend much just for scamming