DALEFOX LIMITED broker tips: how to spot scam on Forex?Paul Roberts 13 / November / 21 Visitors: 43
Is it possible to understand when a scammer is trying to cheat you? DALEFOX LIMITED, a broker from England, will teach you how to recognize the signs of scam.
It is not difficult for experienced traders to figure out scam schemes when investing in currencies on Forex. As a rule, scammers create not the highest quality websites with a minimum of important information. So in some cases, the trader does not get a lead, even to locate his so-called broker.As we were told by the press service of the English company DALEFOX LIMITED, scam on Forex has become "popular", because more and more people want to make money on the difference in exchange rates.
DALEFOXLIMITED.com scam check tips:
Anyone can fall victim to a scam, but knowing some of the signs of scam are easy to spot. We asked DALEFOX LIMITED scam detection specialists to describe the most typical Forex scams in 2021.
There is advertising, but there is no company.
It is difficult to think of a simpler such a scam. Fake office places an advertisement on the Internet that helps to invest in Forex trading. For communication, leave a phone number or email. A distinctive feature indicating that this is all a deception is the company's lack of a website. That is, you get all the information about the prospective broker only from the words of the managers and cannot be verified in any way.
See what exactly should be a company that works legitimately:
- Office address (indicated in the "Contacts" section or elsewhere on the website);
- Telephone and mailbox for communication;
- Account plans set out in understandable language.
If the company doesn't even have a website, don't contact it at all. And if there is a site, make sure that the listed information is present on it.
The company's office is on an island under a palm tree.
If the registration and legal address of the broker is in the offshore zone, this is a bad omen for an investor. Such companies often evaporate with their clients' money. Choose professionals who work under strict and understandable European laws. Whose offices are located in places understandable to every European person, for example, in the business center of London:
They sell you something and/or want money right away.
Attention: if you haven’t decided whether to invest, which tariff plan to choose, and you are already being forced to pay for something, this is cheating! The essence of the scam is to defraud your money, and services may not be provided at all. No broker takes commissions in advance, and cooperation, according to the law, should begin with the choice of a tariff plan. So we look at the first point - the company must have a website, and on it, among other things, a section with tariffs.
You were offered to buy a super successful trading strategy.
There are no super-successful strategies, as no professional will ever guarantee a constant “come”. All these are tricks to force the client to transfer money to a certain account of an individual. Then it turns out that there is no strategy, and the individual is a simple fraudster. By the way, in fact, each investor builds his own strategy, over time, depending on his financial capabilities, market trends and many other factors. The job of a good broker is to help the client build a strategy, not “sell” a recipe for happiness.
The broker did not provide a trading platform.
If a company does not have its own trading platform, then it may turn out to be an intermediary for another brokerage organization, whose platform will have to be rented for money. Why pay twice? In other cases, a broker without a platform is just a fake who wants to quickly collect money from naive victims, promising to launch the terminal “tomorrow”. But tomorrow still does not come, and the money is lost. Make sure the company has its own terminal.
We have listed only five main signs that you may not be a legitimate broker, but a real scam. DALEFOX LIMITED, notes that the number of fraudulent schemes has increased in the past two years. Be careful!
Paul Roberts 51 years old Born in Edinburgh. Married. Studied at University of Oxford, Department of Public Policy and Social Work. Graduated in 1997. Works at Standard Life Aberdeen plc.