Mon. Nov 28th, 2022

Fxtriangle | Market analysis | Managed trading

Fxtriangle will make Fx trading look easy.

Forex Broker Scams

1 min read

The Forex market defines as a legitimate trading market where the world’s currencies are traded. It is not a scam in itself. Without the Forex market it would be difficult to trade the currencies needed to buy imports, sell exports, to go on holidays or do cross border business. However, with high leverage positions which, in theory, have the potential to make traders a lot of money and because there is no centralized/regulated exchange, scammers take advantage of the situation and therefore the inexperienced traders desire to enter the market.

Trading is hard enough in itself, but when a broker implements practices that work against the trader, making a profit can be nearly impossible.

If your broker doesn’t answer you, it’s going to be a red flag that they’re not searching for your best interests.

To make sure you are not being duped by a shady broker, do your research, confirm there are not any complaints, and skim through all the fine print on documents.

Try opening a mini account with a little balance first, and make trades for a month before attempting a withdrawal.
If you see buy and sell trades for securities that do not suit your objectives, your broker could also be churning. If you’re cursed with a nasty broker, review all of your documents and discuss your course of action before taking more drastic measures.

Leave a Reply

Forex trading and any instruments related to Foreign Exchange Market are Speculative and carry substantial risk of loss of either partial equity or the entire deposit amount. Leverage adds up to the risk, before considering to invest in this venture, you should first consider your financial position and may seek the help of an independent financial advisor. FXtriangle dis-recommends the usage of loan instruments to trade in this market as it can hamper financial position. Please do not invest the money that you cannot afford to lose. FXtriangle provides all its services throughout the Globe Excluding (Nigeria, British Virgin Island & the Islamic Republic of Iran) and also provides limited service in some jurisdictions where investment in Overseas markets / Fx Exchanges are prohibited by Law If you are not sure to contact us before using any of our services. FXtriangle acts as an Independent Corporate Financial Advisor and connects you to various overseas exchanges and cannot be held liable for any financial damage occurring through their side. All of our partnered institutions are regulated in various jurisdictions.FXtriangle conducts an independent background check before partnering with any institutions to fulfill your investment objectives smoothly. The usage of our Business name, Logo or any trademark in any financial forum, website, review website, complaint arena, Billboards without our written permission will attract lawsuits.