Fake forex brokers list

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Once you have invested your money with these brokers, either they will tell you that they went bankrupt, which is a lie, or either they will disappear just like a fly-by. Forex Bucket Shop Unlike previous brokers, these brokers are very well prepared, and they are really hard to distinguish. Let me tell you why.

They design a full-fledged trading platform that meets the features offered by legitimate forex brokers. But the only difference is that these are not working in the forex market; instead, they are just stealing money from you, and you think you are losing your money in the market.

Therefore, such brokers should be avoided because they have caused many traders to lose their money. Pyramid Schemes These types of scammers are really smart in what they are doing. You will be amazed at how clever they are, but their motives are not good at all. They will make a platform that will be the same as a normal broker. They will take money from you, and you will think that you are investing your money in the market, but all of your money will be going into the pockets of scammers, which will never be returned easily.

Such scammers are not only a part of the forex trading market but other markets as well. So traders from every market should be cautious about them. Conclusion As you have gone through some of the brokers, which are usually scams, I hope to help you distinguish between a legitimate broker and a scammer. It is our top priority to choose the most reliable and Safe Forex Trading Provider and define who are Brokers to Avoid.

We have done deep research, compared numerous Forex Brokers, trading conditions and made a detailed Review of Most Popular Forex brokers to assist your selection and answer common questions. What is Unregulated Broker?

The Forex Market currently is the largest offering worldwide with hundreds of opportunities and high potential gains, while investors or traders from around the globe seek the most convenient platforms with access to trade, it is important to select reliable Broker to trade through. Among Market proposals, there is a huge number of Brokers, while some of them are regulated, means hold a license or authorized by the industry regulator, and some companies are not regulated by any, or might be based in offshore zone with weak standards.

Read about Forex via Wikipedia. It is a decision of the company where to establish its branch, office or entity, means under which regulations and laws to comply. In case Broker decides not to be regulated, it can be that either the company saves operational costs, since licensing requires strict capital maintenance and can be very costly, and offshore zones offer easy obtain of license. The biggest lack of Unregulated or Offshore Broker is regulation, meaning the gap of safety itself.

Therefore, all Offshore and Non licensed Brokers we recommend to avoid.