Have you ever wondered if it’s the right choice to start trading with a Forex brokerage? You might have heard from your friends or family how good of an experience they had, but then, you read many negative ones online. And now, you find yourself having a dilemma.
Frankly, the experience you’ll have depends on the Forex brokerage you choose. And Global Fraud Protection can definitely assist you with making the selection.
Are Forex Brokers a Scam?
Forex or Foreign Exchange Market is worth $5.3 trillion on a daily basis. And, of course, there are many players in the game looking for their piece of this valuable cake. Since having many participants decreases the level of safety and spreads uncertainty, some of the fraudulent companies saw their opportunity.
Forex per se is legal. However, companies providing you Forex trading services might not be. To start trading on this market, every client needs to have their own brokerage or a financial adviser. And this brokerage needs to fulfill certain criteria to be qualified as legit.
The sudden rise of internet-based brokers has led to opening shady offshore companies or unregulated entities everywhere in the world. The problem investors face is their inability to distinguish between legit online Forex brokers and all of the scammers that showed up.
That’s why websites like the one owned by Global Fraud Protection give you a list of all the companies and their characteristics, along with regulatory warnings. The first step is to differentiate between legitimate and non-legitimate ones and choose the right brokerage.
How to Identify Scam Brokers?
The internet might be an enemy of traders, allowing any scam to present themselves as a legit trading brokerage. However, there are a few valuable tools there that will help you identify fraudsters quickly. For a start, always make sure to check the broker’s regulations. Even if the company puts some license number on their website, check the regulator’s site and find out if the number is legit.
Moreover, you can read reviews. Often, traders that have had a bad experience will warn others against scammers. Also, you can visit Global Fraud Protection. Their support team receives complaints on a daily basis and does a tremendous job of uncovering illicit operations. In their reviews, they’re exposing everything about the broker, from false regulation to actual headquarters and modus operandi. If you want to know whether your future broker has a license to provide financial services, is it based offshore, or how to withdraw your profit, Global Fraud Protection found a response.
Besides, their team members are following all the regulatory warnings and frequently updating the list. That way, you can instantly see if your brokerage is blacklisted in some countries and why. It’ll help you decide whether to be involved with them.
About Global Fraud Protection – How We Expose Fraudulent Brokers
As aforementioned, Global Fraud Protection receives numerous information directly from traders. Since the company supports filing a dispute and requesting a chargeback, many traders decided to tell their story and expose all they know. And Global Fraud Protection investigates this until they have a full review of the company.
Also, checking regulatory warnings gives them insight into who is a legit brokerage and who should be marked as a scam artist and the reason for this.
Before starting an investment account, visit Global Fraud Protection and investigate your desired broker. If you are already involved and discover you fell for a scam, contact Global Fraud Protection for a refund solution.
And trust us, they’ve heard it all!