How to catch Fake brokers online?
Why to switch IQ Option?
As the financial market becomes decentralized due to the Internet, high-net-worth traders can now directly participate. New financial instruments were created. Among these options, binary options quickly became popular because they do not require a large amount of investment to trade. A trader can speculate on the underlying asset for only $1. With fluctuating prices, you can get a stable income in just 60 seconds. As usual, wherever money can be made, there are always scammers waiting to make money from unsuspecting victims. However, many of them are scams that steal funds from unsuspecting traders. The governments of North America and Europe stepped in and issued strict regulations, making it almost impossible for option brokers to conduct business in these regions. As a result, these unregulated brokers focused on other regions, including Latin America, Eastern Europe, and Asia. Respond by introducing regulatory laws. However, this did not stop the scammers from working. Many will start up, run for months or years, and then shut down. At the same time, the dealer’s money also slipped away. This guide will show you how to spot fraudulent options brokers and why IQ Option is a smart choice.
How do you spot a fraud broker?
There are multiple ways to identify fraud option brokers:
Regulatory status-This may be the easiest way to identify fraudulent options brokers. If the broker does not disclose its regulatory status, this is a red flag-please do not invest your funds in it. Supervision has several advantages. The following are their contributions. This means that if the broker goes bankrupt, you can be compensated for the loss. If the broker is now regulated, he must also provide information about countries/regions where he does not provide services. Option does not provide services to US citizens, nor does it provide VIP accounts to EU citizens.This is explained directly on his website..
Location and contacts- Before investing in a broker, it is best to know their location and contacts. This information should be provided on your main website. Your office address should also be available (no mailbox). Try to contact their support team and ask questions about their platform and general transactions. If you think you know what you want to ask, it is best not to mess with them.
Where are your customers? Many popular online options platforms claim to have more than 1 million active accounts. Although this may be true, it is important to consider where these customers come from. It makes no sense to trade with a broker who has 1 million traders from multiple countries. Make sure you are viewing under Google Trends on the platform. If the platform operators come from different regions (including your region), you may be a good broker.
Financial instruments provided-It is no secret that options are a popular financial instrument. However, some traders prefer other assets such as foreign exchange and cryptocurrencies. Large brokers will provide hundreds of financial derivatives in different asset classes. If the platform claims to only provide options, it is likely to be a scam. All brokers know that options are high risk. Many options brokers claim that they do not charge any deposit, withdrawal, or transaction fees; however, once you join their platform, this situation will change.
Manupulation of Price-This strategy is designed to ensure that most transactions end in loss. Since the broker has trading software, he controls the prices displayed on the chart. An easy way to discover this manipulation is to open a brokerage platform and a free platform like MT4, and then compare the price charts of the same asset in real time.
Complaints about financial transactions-If you find online traders complaining that the broker does not process your withdrawal request or has hidden fees, please treat this as a warning about commissions, but once you join their platform, this will happen change.Introducing brokers are simply individuals or companies that recommend new traders to the options platform for commissions. It is rare for IB to prevent traders from joining certain trading platforms. However, when you find multiple affiliated partners claiming that a particular platform is a scam. , Notes. This may be true. On the other hand, if you find that IB is actively promoting a new platform and earning millions of claims there, that is another red flag. There is no option broker to open a business to give away free funds.
The platform has multi-level to offer-Even if you know they cannot trade, would you recommend a trading platform to your friends, partners or brothers? What if the platform offered $50 to anyone who opened a trading account? This is MLM 101.Many fraud platforms have adopted this business model. To excite you, you may get a free trading account for about $30; however, once you open an account (and start earning cash), you will be asked to recommend new members to get more free cash to trade. The problem is that the platform is set up to make your trading profitable. They think that trading there is easy and anyone can do it. However, this only happens after you recommend other new members. Use the real currency account you paid for. On the other hand, anyone with a real currency account cannot afford the luxury of “winning” transactions. This cycle goes back and forth until the platform finally collapses.
Why opt for IQ option?
IQ Option-Smart choice
Since its launch in 2014, IQ option has been a pacesetter in innovation as way as on-line choices platforms go. The broker has undergone major enhancements over the four and years they’ve been in existence. They’re absolutely regulated by Cysec and supply many completely different monetary instruments to trade in. Being a trader focus platform, IQ Option has endowed in heaps of instructional material that has video tutorials on a way to trade. They even have an often updated diary that has tips to traders. Their client support team is instantly available. Deposits and withdrawals are quick and, the platform unceasingly adds new payment strategies to accommodate traders from completely different regions. The IQ option platform is accessible through desktop and mobile devices. They conjointly give a free observe account that may be recharged with $10000 virtual money ought to your account balance fall below $2000. plenty will be aforesaid regarding the IQ option platform however one issue remains true – they’re a legit choices broker. Happy Trading.
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