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What do you consider when choosing a forex broker and how do i know he is not a scam?
Choosing a good broker is one of the most important things a look at first before i even think of starting to trade. why?
With a good broker, you will not be scammed or robbed your hard worked savings and more to that you will not meet issues of additional costs, big spreads and large slippages especially in times when there is news releases.
There are many brokers all over on line but the truth is some of these brokers are scams.
When choosing a broker, you have to be very careful. Do some due diligence and enough research before putting your money in the hands of a scammer and be sure that he/she is the right broker to deal with.
Some of the factors you should look at include; the broker’s reputation, level of convenience, easiness of their platform, if they are registered with the regulatory bodies and their associated costs.
Among others,this is a must, MUST CHOOSE A BROKER THAT IS REGISTERED WITH ANY OF THE REGULATORY BODIES. This can help you to file a compliant in case you find problems with that broker(like fraud and theft).
I hope this has been of help to you.
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Choosing a broker to trade with is actually very easy as long as you are ready to trade. Forex trading was made easy for every one online and it is easy to access.
As long as you type the word “forex broker” in google, everything will be made easy for you.
All you need to do is be careful with which broker you choose to trade with because not all are what they say they are. There is a lot of scamming online so bear that in mind as you try to choose a forex broker.
Do some due deligence and make sure the broker you chose to trade with is registered with one of the regulatory bodies. -
Make a lot of research before giving in your money to a stranger, you can also find out from your friends who have been in the game of trading. Forex brokers are easy to access online if you search for them. But take precaution. It may not be easy to tell a scammer from a good broker.As you search for a broker to trade with, look into their reputation and see how long they have been operating. Most scammers tend to use very seductive language promising 100% wins and bonuses which is not the case in Forex. Be careful
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