5 Ways of Telling Your Forex Broker is a Disguised Money Game
Offering Fixed Return:
Money game makes fool traders believe that without losing money of trade is possible. Through fixed interests, they attract the traders for trying. If a broker can deal with you to fix up 10% or more than a month then it’s a scam of the money game.
Failed to provide a track record:
Some brokers give a chance to new beginners to grant money using the PAMM system. To beware of these scams traders need to verify the past trading records and choose the right professional PAMM trades.
Not Allowing Fund Withdrawal:
A real Forex broker will allow traders to withdraw funds anytime. If the broker doesn’t give them access to withdraw funds then he can use funds in new business and refusing for withdrawal.
The Withdrawal Process is Super Complicated:
If your withdrawal process takes more than 10 business days then it's time to be aware of scams. Brokers take time for paying existing clients because payment depends on new clients.
Dubious license and Office Address:
Brokers don’t have an excuse for having a website address. That’s why traders should check the information about the broker to ensure that he is trusted or legal.
I would like to give credit to Broker Xplorer for creating this useful graphic.
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