Characteristics of Forex Brokers Scam And How To Avoid It
Some things that can make forex brokers said to be cheats is to charge a fairly high spread to its customers. The amount of spread on normal market conditions among forex brokers is around 2-3 pips, but the forex broker who runs fraud can give a spread of 7-8 pips per trading position. If the forex broker charges a very large spread every time a forex trader opens a forex trading position, then how much profit in units of pip is obtained by the forex broker.
If it turns out your forex broker is not registered in the NFA member then you must be careful. And our advice is to please you stay away from the forex broker!
If you want to know about a brokerage company that is not listed on the CFTC then please visit the website directly and try to understand about the list of forex brokers presented here whether the forex broker is your choice including CFTC members or not.
And if you know about fraud that occurs in the US then you can make a complaint through:
If you want to use a forex broker in the UK then you can check it at the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). And please do your complaint via http://www.actionfraud.police.uk/ if you find fraud in the UK including scam forex brokers.
And if you want to use a forex broker registered in the country of Switzerland then you can refer to regulations issued by The Federal Department of Finance (FDF) and the Swiss Financial Market Supervisory Authority (FINMA).
And if you want to use all brokers in Hong Kong, then please refer to the regulations that they have through the Hong Kong Securities and Futures Commission (SFC).
If you want to use a forex broker registered in the country of Australia, then please refer to the regulation he has through the Australian Securities and Investments Commission (ASIC). And please do your complaint about all forms of fraud that occurred in Australia including about forex broker fraud at,
And if you want to use a forex brokerage service in the Danish country, then please refer to the regulation that he has through the Danish FSA .
So in essence if we want to avoid being called a scam then the thing we have to do is study and research more deeply about various types of scams that can occur in the forex market and I am sure that you can avoid being called a scam if you always deepen your knowledge about the forex trading business and do not be too confident with other people who say it can help you to be able to successfully run this business, especially if they give sweet promises to you.