Modern banks have long ceased to ensure the safety of savings, interest rates on deposits tragically lag behind inflation. All this pushes any reasonable person to the financial markets, where they can save and multiply earnings. However, shady dealers lie in wait for them there. Stocks Wide experts tell you how to identify a reliable partner and avoid fraudsters.
The first thing you have to look at is a financial company's website. It should work properly and contain up-to-date information about the company's data: its address, postal and electronic contacts, and data about licenses," says Adreas Neumann, financial consultant at Stocks Wide.
Let's add that a website is not just a showcase, but also a tool, especially for modern fintech companies.
But a decent look alone isn't enough. Be sure to check the license information, Stocks Wide advises. In today's world, this can literally be done in two clicks on Google.
What a decent business should definitely not have on its website is deliberately deceptive overpriced promises. No real Forex broker will promise a guaranteed income, Neumann says.
And avoid any company with a garish website, "fair" design, or overly intrusive consultants. They don't appeal to a rational mind in this way but are trying to influence emotions. It is also a sign of social engineering.
"When looking at comments and reviews, you have to be a little bit of a psychologist," Neuman says. - A bad review is left by someone who is upset about something. And you can try to understand what was the real reason for the irritation. Maybe he was confused or hoped for something he couldn't achieve. A good review will be left by a person who was satisfied. Who will want to give other people the right message. But an honest person will always be critical. So even a good honest review can have negative things. And vice versa."
Particular attention should be paid to negative reviews. Examine what exactly the company is criticized for. It may turn out that the bad experience is not because you found a scammer, but because people bought bitcoin or pound sterling en masse before the big collapse. Analyze the dates and profile news.
And remember, people are more likely to leave negative reviews than positive ones. So don't let a little outweighing scare you. See what people are complaining about.
One of the favorite tricks of swindlers was and remains the creation of a "parallel universe". If we are talking about Forex trading, it would be the creation of a platform where trading takes place in isolation from the real market, and instead of real players, fake bots are trading.
In Stocks Wide are advised to monitor whether the quotes on your platform comply with those demonstrated by free services. If there are news services on your platform - how quickly they show significant news. Aren't they dramatically different from what verified sources publish.
Yes, free services may publish data with a delay, because stock information itself is of great value. Therefore, it is worth following the work of the platform without starting trading. Any serious difference from what your competitors demonstrate - that is a reason to ask the support service.
Undoubtedly, rates in different markets, different venues may be different, says financial consultant Stocks Wide.
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