Sage-Tips

Are forex brokers scamming you?

As Forex markets promise to give you an incredible return on investment, they became trendy in the last few years. However, often Forex traders don’t have a great understanding of how Forex markets work and what a Forex broker does exactly, which leaves the latter a lot of room to scam the trader.

Is it safe to trade Forex?

“Forex trading is safe if you properly select a brokerage account and firm,” says Sergey Savastiouk, CEO of Tickeron, a market intelligence platform that assist users with portfolio and trading decisions on stocks, exchange-traded funds, mutual funds, forex and cryptocurrencies.

What are the signs of forex fraud?

Signs to watch out for include: Unrealistic marketing messages. Employing the services of unregulated brokers. Forex fraud is avoidable when you do due diligence and check out the candidates you choose to work with.

Do you need a Forex brokerage account?

If you do venture into the world of forex, however, you need a forex brokerage account. The trouble is, not all forex brokers have your best interest at heart. What Are Mutual Funds?

What is forex trading and is it legal?

Forex, or the foreign exchange market where investors and institutions trade currencies, is the biggest financial market in the world. Around $6.5 trillion trades each day on the forex markets, according to the 2019 Triennial Central Bank Survey. While forex trading is legal, the industry is rife with scams and bad actors.

Are forex funds safe to invest in?

You may come across forex funds that promise guaranteed returns on your initial investment. Fake funds will boast abnormally large annual returns that seem very enticing. But, as the adage goes, if it seems to good to be true, it probably is. Instead, consider less risky and proven index or mutual funds for your investment endeavors.

Are forex market profits guaranteed?

Nothing about the market, specifically the forex market, can be guaranteed. This market is influenced by too many factors that can change at any moment. So if someone is boasting guaranteed profits or specific results, they are peddling a scam. 2. No substantial proof or background information