How to Deal with Unscrupulous Brokers

WikiFX Strategies (27 Mar.) - Making a profit in forex trading is a difficult issue, especially when you encounter an unscrupulous broker. Here are some tips on dealing with such a case:

1. Some negative comments on the broker are remarked by traders who suffer a loss of their own making. Beginners as they are, what they will question is not their own ability but the broker's quality.

Some losses are caused by the broker. For example, there has been a platform that triggered traders' stop losses by maliciously modifying quotes. But such things happen quite rarely. Keep this in mind: a zero-sum game does not exist in trading since brokers earn commissions mainly on trading volume. Therefore, it is important to evaluate the industry properly and pay attention to screen brokers.

2. If the broker couldn't be reached or just makes a perfunctory effort, chances are it no longer takes into account the interests of its clients.

3. Self-protection:

1) Search for comments and feedback on the broker to distinguish the facts.

2) If there is a complaint, ask the complainant for details.

3) Read the terms carefully when opening an account in case of unavailable withdrawals.

4) Test your selected broker by depositing a small amount of capital first.

The size of the broker has nothing to do with its level of risk. If a dispute does arise, keep the evidence and seek help from the regulator.

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