Simple tips to avoid becoming a victim of fraudulent schemes in the foreign exchange market.
What should a beginner trader know? Warning from Access Capital Markets scam checklist says: there’s a chance to get caught into carefully designed fraudulent scheme. For example, somebody registers a company, hires a couple of employees, and even runs a full-fledged advertising campaign.
How can you find a honest broker? There are some tips on how to detect scammers. We will show you all possible mistakes fraudsters made. Just be careful and you can avoid contacting scammers.
Brokers know better on how brokerage organizations functionize. We asked British company Access Capital Markets, registered in London and regulated by the British Securities Fund for some comments and advice.
More than twenty years of experience allow Access Capital Markets scam check in the currency trading market in two counts.
First of all, as the company's specialists say, you should find out where the broker's office is. Very often, companies with scanty initial capital or dubious goals are looking for more loyal conditions for registration. Cases of registration of companies are widely known, for example, on islands somewhere in the Pacific Ocean. Legally, it is difficult to find fault with such registration, but in order to understand what services a broker will provide and in what way he can cheat, you need to know the laws of the country in which the company is established. Firms that are legally located in offshore zones cannot guarantee European residents compliance with European laws. For example, to guarantee a refund if the client decides to terminate the contract with the broker, stops investing, becomes disappointed in trading, or simply finds more favorable conditions for himself.
If the legal address of the company is in Europe, then here you can immediately count on the effect of European norms. In the same issues of withdrawing money from the account. However, you need to understand that the company in European legislation, in turn, is protected from fraudsters in the person of customers. When trying to conclude a deal for a large amount that has no economic justification, the company has the right to hold the money in the client's account and conduct its own investigation and even apply to law enforcement agencies.
Of course cyber police interested in finding scam brokers. That’s why at the EU are regulating laws. These laws regulate brokers and protect traders. It is very important to know if the company you choose for trading support these laws. So you should be very attentive.
For example, judging by the information on the website of Accessgroupcapital.com scam is simply impossible here - the company fulfills the requirements of the most important EU anti scam programs:
That’s why this broker requires all trades pass verification. All of this is stated on the «legal documents» sections on the website. It is also mentioned in the standard user agreement. You can even read it before opening your account as a trader. You can find it at the same section as the Risk warnings. Where all nuances about provision of the leverage provided by the company are described.
According to the company Access Capital Markets scam check is easy. You just need to know what to pay your attention to.
The main points to know about:
You can’t just start trading and win milliards of dollars. Of course sometimes new traders can make great deals sometimes. But it doesn’t happen on a regular basis. Usually a good broker advice to newcomers to trade small amounts. And always warn them about the risks.
And all promises to receive a lot and at once are only promises, behind which there is nothing but advertising and the desire to lure the client. It is likely to be scam.
Forex market can be merciless and unfair. It is better for you not to invest much. Trader should measure all risks and form a sum he or she can lose easily. And any persuasion to deposit more funds into the account should be taken as a sign of the broker's excessive interest in your money.
Read all info on transactions very carefully. Pay attention on how funds are depositing and withdrew. It is an important part of your cooperation with the broker. Usually all of this you can find at broker’s website. After all, you can conclude a good deal and still not get your money.
Don’t let yourself to fall for the bright advertisement. According to Access Capital Markets scam will not be able to look decent in the eyes of clients who have already seen its work from the inside.
Thanks to Access Capital Markets Forex broker for their helpful advice. Have a successful trading!
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