5 easy ways to spot a forex scam broker

5 easy ways to spot a forex scam broker

Unfortunately, forex scam brokers are nor as rare as you would think.

It is still a reality for quite a lot of traders to stumble upon scam forexbrokers. That is why I thought it would be useful for us to talk about the signs that can point to a scam broker, so that we could all escape a horrible fate of getting into the hands of one of them.
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  1. Scam brokers use teachers and teaching techniques with no background.
Did you get a piece of information from your broker, but can’t find your webinar professor anywhere in the internet? Do you have serious doubts about the credibility of the information you are exposed to via your broker? Well, you might have found a scam! Lucky for you if you are only starting to trade with them you can easily pull out with no losses whatsoever!
  1. Scam brokers provide no background information.

In case you can’t find any information about the broker of your choosing you might be in trouble. You need to able to know basic info like year of establishment, HQ address, spreads and withdrawal conditions. In case you can’t find that info, it’s better to just keep on looking. 

3. Scam brokers tend to spam your e-mail.

They need to know for sure whether you are going to be caught in their nets. And that is why they make sure that you are constantly reminded about your signing up. Even if that means making you nauseous by their email. Serious companies do not spam. They tend to make sure you stay informed, but they do it in a subtle manner. 

4. Scam brokers offer opportunities which are too good to be true.

They often claim extremely high leverage level over 100 percent signing up bonus and a lot of other Advantages that you are not going to find with any other broker. Truth is that you are never going to be able to enjoy all those privileges as none of them are true. None at all.
It is still a reality for quite a lot of traders to stumble upon scam forex brokers.
  1. Scam brokers evade answering questions.

You can ask “How can I withdraw?”, “How do I pull out in case I do not like your services?”, “Can I contact you directly?”, but they will never answer. Just because you are not going to withdraw – there is not going to be anything to withdraw, if you know what I mean.  Answering questions is not one of their favorite business. And you need to be alerted by that.

So, these 5 easy points are really going to be nifty in case you want to stay away from scam brokers, and I am sure that you do, and in case you want to know whether you are about to become a victim of a scam right away.

What do you think defines a scam broker the best? Write in the comments!

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