7 Steps to Identifying a Fake Broker

7 Steps to Identifying a Fake Broker Seen From the Review

Forex emerged a few years ago. Until now the number of traders has increased.One reason is because of the success of some successful traders from this Forex business. Aside from being a trader, brokers also have a large share in realizing the success of trader transactions. Brokers are parties that bridge forex sellers and buyers.

Review for fake forex brokers

Brokers can be individuals, agents, institutions or companies. But like two sides of a coin , the role of a broker in forex transactions also has a bad side. Trust from traders can trigger the emergence of fake brokers that will harm traders who use his services.

The assets that we entrust to the broker are certainly valuable goods that if misused the owner will be harmed. Therefore, before choosing the right broker, it would be better if we first identify. One way is to identify brokers through a review. The following are steps to identify brokers’ reviews so they don’t get caught by fake forex brokers.

  1. Identify the website or website

The first identification step is to check the site owned by the broker whether it is an official forex site or not. One sign that the site is less credible is the number of broker review lists in the first review. Then also check whether the site presents the latest forex news. This is the main reference for judging sites that are owned by a broker is really a trusted site or just aimed for promotion.

  1. Identify the name of the broker

Having an unusual and seemingly forced web name can be one of your review material. Suppose you find the name of the web 4x (four ex read forex) or the like then it can be sure the web is not credible.

  1. Top domain identification

Beware if the broker on the website does not have a top .com domain. There are no legal commercial companies that use .net, .org or the like. If you find a domain usage other than .com, then the web broker can be said to be fake.

  1. Identify links

In the world of blogging is very reasonable if the user uses paid links. This can be one of the blog’s credibility values. Nevertheless there are sometimes fake brokers who are willing to use paid links for the sake of victims. Therefore, a good broker should provide an explanation of related links so that the reader believes and does not feel harmed.

  1. Identify comments

Before you download the app in the app store , what you need to see is a review in the form of user comments about his experience in using the apps in question.This comment will be your review of the apps that will be downloaded later.Similarly with forex sites, if you find a site with a comment column means the site can be said to have openness to the reader. Comments that you find can be used as reverensi whether the broker is trusted or not. However, you also need to be aware of these comments. At this time it is not difficult to manipulate comments.You can find out the validity of the comments by commenting on the site and see if your status is posted or moderated. This is because to be wary of the possibility of comments deleted by the server because it is not in accordance with the wishes of the site owner.

  1. Identify forum members

When you enter a site, try to identify the members of the forum. For example, there is an A member who always gives positive reviews on the site. The reason A member gives positive reviews or comments is 2 possibilities, first because member A has indeed given a review or comment that is true or second, because member A is part of the site owner. To identify the authenticity of the comment, you can see other posts belonging to member A in the forum. If A although without a link always write the contents of promoting a broker only then most likely A is part of the site manager.

  1. Identify negative comments

The identification that you need to do next is to look for a swear word followed by the broker’s name in the forum search field. Although it sounds rude or ethical violation, but this negative search can determine whether the broker is really doing the job or not. If you do not find a negative comment, it is likely that the broker is not credible.

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