Forex scam is becoming a hot issue these days as almost every day new reports are coming and a lot of people are getting affected. In this article, I am going to tell you top seven ways to avoid these types of scams. You must pay attention to each point to save yourself completely.
1. If everything looks too good: If a website is offering you a huge benefit within no time, then you must be careful about it. No doubt, forex market is a huge place for making money but nothing comes for free. Such websites only have one attractive page with no base or proper working mechanism.
2. Always remain in touch with people: It is indeed a great idea to talk to those people who are either in the company or at least tried a particular service. In the majority of the cases, the people behind the promotion videos barely look serious. In case they are serious, you still need to verify the originality at your end.
3. Search the product on Google and find pros and cons: Google is indeed the best search engine that helps you to find almost anything related to any business or service. Write the name of the product in the search bar and add words like “scam” and “suck.” If you found too many results going against the product than this should be an alarming sign for you. When not competitors but people are complaining about something then it means that it is not really worth.
4. Search the people on Linkedln: Linkedln is world’s world’s largest network where professionals meet. If you are search for a specific company through Google, then it must lead you to the Linkedln pages within the initial pages. In case, the people that are behind such a product are not on Linkedln, and then it should be suspicious. If you found them see who the people that are recommending them. You will feel much better if found some solid recommendations.
5. Regulation: This is must for the serious players of the market. If a player is doing some serious and real work, then he must be affiliated with at least one regulatory authority. Some of the most reputable regulatory authorities are NFA, FSA, and CTFC.
6. Demo account: The ultimate purpose of the demo account in this article is based on the real check of the broker. Some robotic elements have good performance, but you are never assured about that. To get the answer, you must try out things on your own.
7. Intuition: Finally, you will be getting the thoughts of people from the other side. In the reality, the forex world is full of scammers. However, you must stick your mind to the basic rule of the court that says: “every person in this world is absolute innocent, unless he is found guilty. You should consider everyone as a guilty person, unless they are willing to prove you wrong.”
My advice is :
Read Practical Steps to choosing forex broker and than check regulation and alexa page rank of forex broker site. Most visited and most famous forex brokers are always good choiice.