How to verify and avoids scam brokers?

pwilliampat

Recruit
Messages
6
Run a review on them. Check legitimate of their operations if regulatory status: check if other trader has complain about them online. Check withdrawal deposit and condition, confirm the authenticity of their trade platform if it allows citizens in USA, Japan, UK, and India. Deposit very little fund before investing huge capital.
 

aylmerk

FPMarkets Multi and Spammer
Messages
12
Hi, i am new this trading universe and actually i did hear about it for the past years from colleagues and friends and decided to try, but before that i would like to do my research on it and from what i've done there are many scams out there and not sure now how to exactly pin point one from the advise you gave i'm actually going to put use to it and learn about it more clear.
 

SalTrader

Recruit
Messages
2
It was a scam broker that got me into forex with pressure sales....my advice, avoid any broker that trys too hard to sell
 

acertablet

Corporal
Messages
258
Code:
Grade A Broker
- Registered in USA, NFA regulated/FDM member (Forex Dealer member)
- Forex license, Minimum paid up capital US$20 million
- max leverage only 1:50

Grade B Broker
- Registered in Singapore, Australia, UK, HK, NZ
- Regulated by SG Money Authority/ASIC/AFSL/FCA/hk-SFC
- Forex license, Minimum paid up capital $50k - 5Million(SG), AUD$1million (Aus), EUR$730k (UK), EUR$1.5m - 3million (HK)
- Australia allow max leverage 1:500, SG,UK,HK leverage offered very low 1:30

Grade C Broker
- Registered in Cyprus/Malta/Bahamas/Belize
- Regulated by CySec/MFSA/IFSC
- Forex license, Minimum paid up capital EUR$125k - EUR$730k / US$300k
- leverage 1:500 or higher

Grade D Broker
- Registered in Vanuatu/British Virgin Island/Seychelles/Estonia/Bulgaria/Mauritius/Labuan
- Forex license US$50k - 125k
- leverage 1:500 or higher

Grade E Broker
- Registered in St Kitts and Nevis, Dominica, St Vincent and the Grenadines
- Forex license, Not required
- Not regulated
its important to choose broker based in highly regulated country, in case of dispute authority can step in and conduct proper investigation
 

Petezaa

Recruit
Messages
148
Run a review on them. Check legitimate of their operations if regulatory status: check if other trader has complain about them online. Check withdrawal deposit and condition, confirm the authenticity of their trade platform if it allows citizens in USA, Japan, UK, and India. Deposit very little fund before investing huge capital.
Great advice. Always best to do your research before you sign up to a broker and put your hard earned money into it.
 
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