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    Online Forex Scams

    Its not easy to know what to look for in a forex broker if you're new to the business. Sometimes it can be a daunting task with all the fake information online and fake news. To pick the best broker, you have to seek a few key points on every broker to ensure you are not going to get involved in an online forex scam.

    What is an online forex scam.

    In order to avoid an online forex scam, it is very important to know the difference between a real and a fake online forex broker. Let us discuss what an online forex broker is. In a real online forex broker, the broker is registered with all the regulatory agencies. These brokers will not sell their products without the correct license and proper paperwork. In addition, the online forex broker will be bonded, so that no customer funds are taken by them without the consent of the customer. Now, what does a fake online forex broker do? Fake online brokers are actually websites that look just like an actual online forex broker, but they are not. The brokers will steal the trader’s money. And you will not even know about this until it’s too late.

    How to spot a forex scam

    – Will you be invested in real assets? – Will you be offered a free demo? – Does the platform have a good reputation among traders? – Is there a live chat and are experts available? Check out this article to look at the top 10 questions to ask before joining any online forex broker Safeguarding Your Money and Your Future Forex brokers use techniques that can manipulate your money. Before getting involved, make sure you protect your bank account to make sure no scams occur. Below are a few tips that may help to protect your savings. – Always check that the source of the website you are logging into is legitimate and not a scam. – Before you invest in anything, make sure you have researched the product thoroughly.

    How to report a forex scam

    The first thing you need to do is to report a forex scam to your broker so that the broker can take measures to stop the abuse. By giving your broker a tip-off that the forex broker has been the victim of a scam, your broker will know it is their duty to report the exchange to the regulatory authorities and will not hesitate to shut down the broker's account until the legal issues have been settled. Review and validation If you want to check up on a broker before you invest your hard-earned money, your first port of call should be to check if the broker is listed on Moneycorp or Scriptec. The second one is to look at their reviews from customers and by looking at the portfolio of trades that the broker is involved in.

    How to get back funds from scammers

    You have to always be aware that if you believe the quote you received is correct and you continue to trade, then the bank will put a withdrawal charge on your account, this means you have to liquidate your account to pay the charge. At the same time you also need to be sure to account for any profits you have made trading and any losses you may have incurred as this will help to avoid a charge. You have to be wary of websites where you are asked to provide a personal or account information to receive their services. Online currency brokers that provide a live trading interface are much safer. They will allow you to choose the currency to trade in and you can use the minimum amount you need to trade in order to avoid making withdrawals to cover all trading commissions.