To use chat, please login.
Back to contacts

How to recognize a Forex Scammer ?

GeorgeBischof
Sep 28 2020 at 18:44
318 件の投稿
You have to research the market properly to recognize the scammer.

perryjohn765 (perryjohn765)
Sep 29 2020 at 03:05
169 件の投稿
is it true that a unregulated broker can be a scammer?

marco_mmbiz
Sep 29 2020 at 09:18
363 件の投稿
perryjohn765 posted:
is it true that a unregulated broker can be a scammer?

Even regulated brokers can sometimes be scammers. But at the end: yes, unregulated ones (or the ones who just say they're regulated) are most probably a scam.
A good broker has a strong investment bank behind it or a direct access to the markets (like prime of prime brokers or investment banks) and also have a good banking regulation (not only for forex, but also for all the other financial services in the market). A banking insurance and well-known name with a good long-term reputation is a plus.

ele020 (ele020)
Sep 29 2020 at 11:55
165 件の投稿
There is a high possibility that maximum of the unregulated brokers are often scammers. You need to choose a broker wisely. The best is before investing huge capital review the broker critically on various forums and get in touch with traders who invested in that broker. Check if they have trader friendly withdrawal and deposit policies etc. These factors certainly clarify if your broker is a scammer.

The more your practice, the more you learn.
perryjohn765 (perryjohn765)
Sep 30 2020 at 03:09
169 件の投稿
marco_mmbiz posted:
perryjohn765 posted:
is it true that a unregulated broker can be a scammer?

Even regulated brokers can sometimes be scammers. But at the end: yes, unregulated ones (or the ones who just say they're regulated) are most probably a scam.
A good broker has a strong investment bank behind it or a direct access to the markets (like prime of prime brokers or investment banks) and also have a good banking regulation (not only for forex, but also for all the other financial services in the market). A banking insurance and well-known name with a good long-term reputation is a plus.

That helps. thank you so much..but with regulated brokers there are leverage restrictions unlike the unregulated.

marco_mmbiz
Sep 30 2020 at 09:04
363 件の投稿
perryjohn765 posted:
marco_mmbiz posted:
perryjohn765 posted:
is it true that a unregulated broker can be a scammer?

Even regulated brokers can sometimes be scammers. But at the end: yes, unregulated ones (or the ones who just say they're regulated) are most probably a scam.
A good broker has a strong investment bank behind it or a direct access to the markets (like prime of prime brokers or investment banks) and also have a good banking regulation (not only for forex, but also for all the other financial services in the market). A banking insurance and well-known name with a good long-term reputation is a plus.

That helps. thank you so much..but with regulated brokers there are leverage restrictions unlike the unregulated.


You just go with higher lot-sizes then. For example, instead of '1lot for every 100k account size' (at 1:500 max account leverage), you go with '1lot for every 10k account size' (at 1:50 max account leverage). 😉

But there are also regulated offshore-brokers out there, where you can still use higher leverages (e.g. 1:200, 1:500). You just need to check out if they are reliable on long terms/conditions. I also use 3 offshore-regulated and only 1 EU-/ESMA-regulated one.

DoraWalletInvest
Sep 30 2020 at 09:19
123 件の投稿
perryjohn765 posted:
marco_mmbiz posted:
perryjohn765 posted:
is it true that a unregulated broker can be a scammer?

Even regulated brokers can sometimes be scammers. But at the end: yes, unregulated ones (or the ones who just say they're regulated) are most probably a scam.
A good broker has a strong investment bank behind it or a direct access to the markets (like prime of prime brokers or investment banks) and also have a good banking regulation (not only for forex, but also for all the other financial services in the market). A banking insurance and well-known name with a good long-term reputation is a plus.

That helps. thank you so much..but with regulated brokers there are leverage restrictions unlike the unregulated.


Yes but there is a reason for that, although not everybody agrees with leverage restriction regulations, high leverage is very risky.

perryjohn765 (perryjohn765)
Oct 01 2020 at 07:16
169 件の投稿
marco_mmbiz posted:
perryjohn765 posted:
marco_mmbiz posted:
perryjohn765 posted:
is it true that a unregulated broker can be a scammer?

Even regulated brokers can sometimes be scammers. But at the end: yes, unregulated ones (or the ones who just say they're regulated) are most probably a scam.
A good broker has a strong investment bank behind it or a direct access to the markets (like prime of prime brokers or investment banks) and also have a good banking regulation (not only for forex, but also for all the other financial services in the market). A banking insurance and well-known name with a good long-term reputation is a plus.

That helps. thank you so much..but with regulated brokers there are leverage restrictions unlike the unregulated.


You just go with higher lot-sizes then. For example, instead of '1lot for every 100k account size' (at 1:500 max account leverage), you go with '1lot for every 10k account size' (at 1:50 max account leverage). 😉

But there are also regulated offshore-brokers out there, where you can still use higher leverages (e.g. 1:200, 1:500). You just need to check out if they are reliable on long terms/conditions. I also use 3 offshore-regulated and only 1 EU-/ESMA-regulated one.
i am checking with one of the brokers for leverage more than 30x but they consider it as a professional account and there a few terms and conditions which I need to go through with.

perryjohn765 (perryjohn765)
Oct 01 2020 at 07:16
169 件の投稿
DoraWalletInvest posted:
perryjohn765 posted:
marco_mmbiz posted:
perryjohn765 posted:
is it true that a unregulated broker can be a scammer?

Even regulated brokers can sometimes be scammers. But at the end: yes, unregulated ones (or the ones who just say they're regulated) are most probably a scam.
A good broker has a strong investment bank behind it or a direct access to the markets (like prime of prime brokers or investment banks) and also have a good banking regulation (not only for forex, but also for all the other financial services in the market). A banking insurance and well-known name with a good long-term reputation is a plus.

That helps. thank you so much..but with regulated brokers there are leverage restrictions unlike the unregulated.


Yes but there is a reason for that, although not everybody agrees with leverage restriction regulations, high leverage is very risky.
agree..but i believe in forex we cannot be rewarded without the risk.

NathanJr
Oct 01 2020 at 08:40
9 件の投稿
Many scams in the forex market are no longer as pervasive due to tighter regulations, but some problems still exist.

One shady practice is when forex brokers offer wide bid-ask spreads on certain currency pairs, making it more difficult to earn profits on trades.

Be careful of any offshore, unregulated broker.

Individuals and companies that market systems—like signal sellers or robot trading—sometimes sell products that are not tested and do not yield profitable results.

If the forex broker is commingling funds or limiting customer withdrawals, it could be an indicator that something fishy is going on.

コメントするにはログインしてください。