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The FOREX MARKET is the largest cross- connected market & huge volumes of money is transacted every day hence it is a very lucrative source of income for most people. But due to its unregulated nature in various parts of the world, It is also an attractive arena for scam brokerages, illegitimate service providers. Every day new investors or newbie traders fall in trap of these clearing houses. And the hard earned money is lost either due to bad or manipulated trading conditions, Denial of withdrawals, Or poor recommendations from them. Below are few criteria of how trader or a newbie investor can avoid getting scammed.
All FX brokers are not dishonest but some are and must be able to defend themselves when faced with such a situation. In case of dispute with a FX broker, there are some simple steps to take in order to reach a settlement, mostly amicable.
Your broker provides you with an instant flow that allows you to know the price of the main currency pairs on the trading platform. The most common case of problem with a FX broker is that it provides prices lagged in relation to the market.
If you do not take the time to compare the prices displayed by the broker versus those of other suppliers then you have no idea what is actually going on in the FX market. If your broker decides to widen spreads, manipulate rates or move your stop loss, you have no chance of knowing if these movements match what happened in the market.
Given that you do not want to be fooled by your broker and want to have a complete view of the entire foreign exchange market, it is best to have FX education trading services covering real-time price movements in the market.
We are one of the corporate Introducing broker dealing with many brokerage firms across the globe, We can guarantee that these firms are regulated & Would not scam your money.