Forex Trading Reviewer

If you have studied forex trading for a while, you must know that placing your money on a local forex broker that apply unbelievably high spread is a huge mistake; put it in an online forex trading broker is wiser decision. They apply much lower spread, no commissions, and allow various types of automated trading systems.

But you must realize that spotting an honest forex trading broker cannot be done by only comparing their services. Many of them are just scam brokerage whose only aim is drain your money as fast as possible and their standard strategy is lure potential clients with sweet promises and benefits. If you want to survive long enough in forex trading, watch for these in your online forex trading broker before making decision:

1. Registered in an Official Financial Authority
Checking their register is the first thing you should do. Ask their live support where they’re registered; is it in the FSA? Is it in NFA? Is it any other financial authority? Enter their live chat/mail support and ask for the link to their official registration page; if they won’t give you that, it is very likely that they’re not registered anywhere and it is a sign for you to leave the site right away. For example, read AvaFX review to check their register within the FSA.

When you’ve acquired the link, read the entire page thoroughly as sometimes there are cases where the broker registered as inactive member. For example: at the time I wrote this article, FXCBS is registered with the Dubai Gold and Commodities Exchange, but they’re listed as inactive member there.

Additionally, you should check whether they blacklisted by any particular financial authority or not. For instance: both CySEC (Cyprus Securities and Exchange Commission) and UK FSA (Financial Services Authority) have issued warning against Forexyard.

Confirming their registration is an important step, but even with that you still can’t be 100% sure that they’re honest forex broker.

2. You Heard about Them via Incoming Offers that You didn’t Asked
Suspect every information about forex broker that sent to you without your permission; these are a few things that a scam offers would be:
– Sound too good to be true.
– Guaranteed returns; high returns represent high risks, so beware of any promise that offer you high returns while keeping your money safe.
– Trying to have you send your money RIGHT NOW with one-time-offer or other means, but this is only a trick so you don’t have the time to investigate their company.

After you select your online forex trading broker, don’t let your guard down yet; watch for these points:

1. Withdrawal Process
Deposit process always easy, but try withdraw your fund. If they’re prolonging the process, make it difficult, or do not process it at all, then you’ve found out their true intention.

2. How they Handle Problems
Support always available and very cooperative when you’ve just started being a client, but when a problem arise, you’ll discover their true nature. If they keep giving you empty promise, keeping your money, or even completely ignore you, then they’re scam forex broker.

You may wonder why I don’t suggest checking forums for opinions regarding the broker, but I have good reasons not to do so. The reason is it really hard to find unbiased opinion in forums; a scam forex broker can use their employees to post fake positive reviews while their rivals will post negative reviews.

The other reason is there are always novices who would blame their broker for their loses and start posting bad things about the broker everywhere while the clients who have received good services won’t even bother to post on forums. This is might not entirely their fault; maybe it is connection issues at a bad time, but nevertheless you’ll read posts about “my broker cut the connection and my profit” and “my platform freeze at a vital time” all over any forex forums.

No, I’m not suggesting that you avoid forums when you’re looking for information. I’m just pointing that there are too many misleading information regarding forex broker in the forums, but if you’re looking for other info such as trading strategies or sharing experiences, forums are good place. In fact there is an online forex broker with great forum and community. Read further about them at another look of eToro.

Looking for an honest online forex trading broker is not a simple task and you may have to spend a little time for research, but the result can safe you from bigger problems in the future. Later when you’ve found one that can fulfill your expectation, all that you need is a reliable trading system and you’ll have your income from the forex market in no time. Visit best performed forex broker for a list of recommended online forex trading broker.

Technorati Tags: fake, online forex trading broker, scam

There is plenty of opportunity for unscrupulous people to make money fraudulently by launching a forex trading scam. Unfortunately there are always people who will part with money too fast in the hope of making more, this is especially true when it comes to the stock market. However, we cannot assume that a system has to make money for everybody using it in order to be genuine. So what are the signs of a real scam?

1. Unrealistic claims

All websites that are promoting a forex product or service will try to appeal to your wish to make money. That is what forex day trading is about, after all. But if a site promises to make you millions of dollars virtually overnight no matter who you are and without requiring any work on your part, stay clear.

2. Huge earnings on trading account screenshots

It is also common for sites to provide images of their own trading account results to convince you that their system makes money. This is common practice. A scammer will fake the screenshots using Photoshop, and it is pretty much impossible to tell.

So although having screenshots on the site is not in itself a problem, you shouldn’t pay much attention to them. Even if they are not faked, you don’t know that the trader followed the exact system you are buying in order to obtain those results … and  even if the figures are 100% genuine, it certainly does not mean that you will achieve the same results.

3. No guarantee

There should be a money back guarantee on any product and you should not have to jump through hoops to get it. Look for a “no questions” 100% guarantee rather than something that says you must have followed all instructions to the letter before you can qualify for a refund. Following the instructions may include investing more cash than you have.

If you are buying a downloadable product such as an ebook or expert advisor, you can trust anything that is sold by Clickbank as far as refunds are concerned. Clickbank will always refund these items within 58 days of your purchase.

If you are looking at a membership site or a service, refunds on past payments may not be offered because of the time that the company will have put in to providing the service for you during the time that you were a member. However, you should check that you can cancel at any time without incurring further charges. Don’t sign up for something that locks you into a contract for 6 or 12 months.

4. Bad press in the forums

All products will show you recommendations and testimonials from satisfied customers. If you want to be sure you can ask for evidence that they are real, and a genuine business will usually find a way for you to contact the person if there is not already a link given along with the testimonial. 

But even the worst day trading system will have some users who were just lucky. What you want to know is what the un-satisfied customers are saying. There will be some for every product, no matter how good, and you need to find them and sift through their comments. Are they just unhappy because they didn’t make a lot of money overnight, or was there a genuine problem with the product? Search for them in the many online forums to get a clear idea of which products are worthwhile and which ones might be a forex scam.

A653456772

Technorati Tags: currency, day trading scam, Forex, forex scam, forex trading, scam

There is plenty of opportunity for unscrupulous people to make money fraudulently by launching a forex trading scam. Unfortunately there are always people who will part with money too fast in the hope of making more, this is especially true when it comes to the stock market. However, we cannot assume that a system has to make money for everybody using it in order to be genuine. So what are the signs of a real scam?

1. Unrealistic claims

All websites that are promoting a forex product or service will try to appeal to your wish to make money. That is what forex day trading is about, after all. But if a site promises to make you millions of dollars virtually overnight no matter who you are and without requiring any work on your part, stay clear.

2. Huge earnings on trading account screenshots

It is also common for sites to provide images of their own trading account results to convince you that their system makes money. This is common practice. A scammer will fake the screenshots using Photoshop, and it is pretty much impossible to tell.

So although having screenshots on the site is not in itself a problem, you shouldn’t pay much attention to them. Even if they are not faked, you don’t know that the person followed the exact system you are buying in order to obtain those results … and  even if the figures are 100% genuine, it certainly does not mean that you will achieve the same results.

3. No guarantee

There should be a money back guarantee on any product and you should not have to jump through hoops to get it. Look for a “no questions” guarantee rather than something that says you must have followed all instructions to the letter before you can qualify for a refund. Following the instructions may include investing more cash than you have.

If you are buying a downloadable product such as an ebook or expert advisor, you can trust anything that is sold by Clickbank as far as refunds are concerned. Clickbank will always refund these items within about 56 days of your purchase.

If you are looking at a membership site or a service, refunds on past payments may not be offered because of the time that the company will have put in to providing the service for you during the time that you were a member. However, you should make sure that you can cancel at any time without incurring further charges. Don’t sign up for something that locks you in to a contract for 6 or 12 months.

4. Bad press in the forums

All products will show you recommendations and testimonials from satisfied customers. If you want to be sure you can ask for evidence that they are real, and a genuine business will usually find a way for you to contact the person if there is not already a link given along with the testimonial. 

But even the worst day trading system will have some users who were just lucky. What you want to know is what the unsatisfied customers are saying. There will be some for every product, no matter how good, and you need to find them and sift through their comments. Are they just unhappy because they didn’t make a lot of money overnight, or was there a genuine problem with the product? Search for them in the many online forums to get a clear idea of which products are worthwhile and which ones might be a forex scam.

A653456772

Technorati Tags: currency, day trading scam, Forex, forex scam, forex trading, scam