What should you pay attention to when choosing a broker? Let's figure it out: how to understand that a broker is a fraud? Let's consider the classic scenarios of such situations and dwell on the nuances that are given out by an unscrupulous broker.
With the help of KeyTrending, scam can be recognized and neutralized.
Profit is real money, earned by real market movements. An honest broker can also attract clients with profit, but if we are talking about profitability above the market, company shall provide you with some analytics and statistics showing the reasons for those forecasts. If we are talking about high profitability, but the broker can’t explain why the profit will appear – that’s a major red flag, this is a reason to be wary.
To get acquainted with the service by trying it and checking how everything works, you need to deposit a certain amount of money. This does not mean anything bad - this is what normal brokers do. But if, when you start investing money, your account quickly turns into profit, then you need to be on your guard. A conscientious broker is unlikely to be able to see profits quickly, especially if there have been no big moves in the stock market.
Another bad sign is a recommendation to buy little-understood tools that you are not familiar with, whose prices you cannot check. Conventionally, you are offered to buy not Apple shares, but some startup with no history and no profit statistics. If this happens, you are almost certainly dealing with scammers.
Aggressive marketing is a good tool for new brokers on a market, that should alert you only in satiation, when you don’t see any platform or investment plan or market information. The worst thing to do when you don’t even have your login information is to send your money to some bank account or card. You shall always understand what you’re getting and where your money is.
Asking clients to send money to personal credit card? A conscientious broker does not use such techniques.
Do not forget about the security of the official website of the selected broker. Pay attention to whether the work takes place over the HTTPS protocol, whether there is an SSL certificate, authorization forms.
Study the broker's website, read customer reviews on the Internet. Pay attention to the history of the company. Search financial news - suddenly you hear something interesting about your potential broker.
Before signing an agreement with a broker, read the risk notice. This document details how you can lose money when trading in the securities market.
What can you do in order not to lose money? You need to filter out scammers at the entrance.
All investment strategies available for beginners can be implemented with any broker, so there are enough options. If a broker's advisor imposes trading signals on your platform, try not to place large orders – try those signals on small amount of money. You will always have another signal to earn with it, but building the strategy is hard work that cannot be done in seconds.
KeyTrending experts say, first open a small account until you are sure of your decision.
Unfortunately, it is impossible to eliminate the risks completely, since investing is always a risk. You can minimize loss by doing elementary checks of the broker, evaluating its activities and constantly monitoring reviews.
KeyTrending.com Scam check shows that the company has a solid reputation on a market and has a lot of reviews naming it the reliable partner for traders.
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