Forex scams list
WikiFX: Blacklist of Forex Scam Brokers, Forex Brokers platform Scammer List, Find more forex brokers rankings at WikiFX. Six common forex trading scams · Signal seller scams · Forex robot scams · Forex broker scams · Forex pyramid scheme · Managed forex account scams. 1 With this enormous amount of money floating around in an unregulated spot market that trades instantly, over the counter, with no accountability, forex scams. ALL BITCOIN MARKET
Fake forex broker sites are particularly worrying, as these non-existent firms set themselves up as working brokerage operations which accept trader deposits into fake trading accounts, going on to essentially misappropriate your funds.
There are several signs of potential scam Forex brokers which traders should watch out for. In this article, we list 10 of the most nefarious fake Forex brokers in South Africa for which potential traders should watch out.
PorterFinance engages in illicit operations, such as trading Forex on weekends, and traders are unable to withdraw their monies even if they meet all of the conditions. The Porter Brokers, websites, call centers, and straw companies never registered with the SEC as a broker or dealer or were ever associated with an SEC-registered broker or dealer.
Bexplus Bexplus is a company that cannot be trusted. Bexplus lures traders in with competitive market indicators such as leverage and no spreads, as well as introductory bonuses, speedy transaction options, and a straightforward website. On Forex Peace Army, traders may read about several scams that have been reported by victims, and the company has also been linked to a number of other scams.
A client member of the Option. The company has also been involved in illicit trading, resulting in large losses that have completely depleted customer account balances. As such, the Option. However, by the time investors discover the truth about the situation, their money is vanished. When it comes to making a rapid investment in the markets, binary options can be extremely rewarding.
Unfortunately, the market is extremely unpredictable, and there is a great deal of uncertainty in the international arena. HFX is also designated by the Financial Services Authority as an unlicensed firm engaged in fraudulent acts, and traders are advised to exercise extreme caution when dealing with them or to avoid doing so altogether.
Remember, forex brokers know where clients place their stops. Fortunately, many, but not all, broker shenanigans are considered old school. Thanks to new rules from regulatory agencies such as the Commodities Futures Trading Commission and the National Futures Association , these old scams have been cracked down upon. You should choose a forex broker that is registered with a regulatory agency.
In the U. Other countries have regulatory agencies as well and protect individuals as well. More will be mentioned about them later.
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