How To Identify Fake Forex Brokers

 Many people are still skeptical about forex because they have fear of the unknown, some just don't want to have anything to do with investing or trading online as they have friends or family that had been taken for a ride by fake people or websites.


Image source: forexpops.com

The good news is, you found this blog 😃 so you don't have to be afraid of venturing into Forex anymore.

Like you, I have had enough of those guys.

In the next few lines I will explain " How to Identify Fake Forex Brokers" and give you a bonus on safe places where I trade and that I suggest are not the bad guys.

What you should know:

1. Single Page / Landing Page Forex Brokers: Ok so you probably already have a understanding of what a single Page website is and probably a landing page website, but here are some screenshots from Google search you could learn from and continue reading




So here's how this scam works; website's like this usually designed by a group or even an individual, the website will be just one page and in this single Page the culprit will sweet talk people into believing that they are forex brokers and that if you invest with them they will give you huge ROI (Return On Investment).

But the truth is that, this guy's or guy just wants people to deposit money into a provided bank account and then abscond.

Often time when investors return to such websites they will see something like this 👇 or nothing at all.


Image source : dreamstime.com

That's the end of the road for the investors, as they've been taken for a ride.

2. Exit Scam Forex Brokers: Ok so this one is very different from the one above, as the scammers spend more money and time on this kind of project but most of the time it pays off for the scammers.

So this is how it's works; 

a. They replicate an already existing forex platform.

b. They make it a dynamic website, something like a web app actually.

c. The website actually works, as you can trade, deposit and withdraw.

Now to the real reason why this blog was made, look eventually after this website has gained grounds among forex traders and luckily the world. They then throw out a promo like " Deposit $50 and get $150 as bonus" so lots of traders fund their accounts as both old and new members want a pice of the cake.

But what's unknown to the users of such website is that, the people behind such website are constantly watching and counting the inflow of deposits and as soon as it reaches an extremely high number they shot down the website for maintenance or report that they got hacked.

The users will hold on, hopefully things will be resolved but no it's 48 hours already and nothing changes. You log on to the website and you meet the guy with the screw driver fixing nothing.

In time the users will get the message that their money will never get back to their hands as the website will never get back up.

It's really bad that forex market valued at Over 6.6 Trillion dollars in year 2019, some people still exist that won't learn how to trade for a chance on getting legitimate piece of the Trillion but rather they prefer scamming people of their hard earned money.

It will really be a shame for you to have read this blog and still fall victim of such fake forex website, so in my next blog I would tell you "how to avoid getting scammed by fake forex website".

It's time for the bonuses ...

If you ever need to trade forex or even binary options, I suggest binary.com.

Binary.com is an award-winning online trading provider that helps its clients to trade on financial markets through binary options and CFDs.

I trade with Binary.com and I have never had issues, I expect you won't have issues with them as well.


Do remember I'm forever available to mentor and coach binary options

Click the WhatsApp link below to reach me

https://wa.me/message/6J5YIGPPHCQMJ1

 

 

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