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Identifying Scam Brokers, sooner. -
11-17-2008, 11:23 PM
How about this idea on how to establish a good working relationship with a broker. When you make some money, request the broker transfer out the principle, being careful to make sure the requested amount is all part of the balance that is cleared. When they perform, trade some more, request a little more, and so on. It might keep down the number of lots one can trade for awhile, but, you will be establishing whether your efforts are going to be stolen or not.
One other idea on any web based business. I always look up in whois.org or other sites that publish the web site owner's name and contact information. Then, also look up the name server [nslookup] domain name that is returned in the first search. This tells you where the server is actually physically located. When you get two different countries that are not part of the normal flow of information, it is a red flag. The more a broker tries to obscure their information, the more you have to worry about how they treat traders. If names just don't seem to make sense or match, it is a red flag.
Cheers
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