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Common Features of Scam Brokers
1. Promising high profits and no risks;
2. No valid regulation;
3. Clone firms;
4. No segregated accounts to keep traders' funds;
5. Dubious trading platforms;
6. Unprofessional practices like lacking contact or background information;
7. BTC/Cryptocurrency deposits only;
8. Unclear information of withdraw fees, rules and processing times;
9. Tons of negative feedback online;
10. Warned or blacklisted by financial regulators.
Tips to Avoid Forex Scams
First, check brokers' information. Look for a physical address and its valid contact information. The withdrawal policy, its fine print of documents and the presentation of its trading conditions are things you should pay attention to.
Second, check regulation status, including its regulators and license details. Make sure that its license is from a reliable regulator and is not out of the vaild date.
Third, check the online reviews and rate, especially the complains about withdrawals and clients supports.
If everything seems to be positive, it is okay to open a mini account and make a small deposit. A few trades could be made and then a withdrawal. In shorts, we suggest you experience the real trading conditions with minimum cost first.
FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.
The data contained in this website may not be real-time and accurate. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website.