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Why do brokers need to have a physical office?
Nowadays, it's easy to build a reputable website and manipulate the general overview of the website. As a result, scams in "online businesses" also pop out here and there.
That is why brokers with physical offices are more convincing.
Continue Reading at Beware the Trap of Money Game in Forex Brokers
Which broker offers a welcome bonus that can be withdrawn?
None at all. All welcome bonuses from the 5 brokers cannot be withdrawn immediately but must be used for trading first. It is the profits earned that can be withdrawn.
Continue Reading at USD30 Welcome Bonuses by Forex Brokers in 2023
Why can't I get my money back in broker scam?
- The first reason is that forex investments generally don't receive the same protection in the eyes of the law compared to instruments like stocks and futures.
- The second reason is modern forex trading through the net, where people could easily get in and out, even erasing their trails.
- Third, forex traders often deal with foreign brokers, which means that fund reimbursement becomes more complicated due to legal differences.
Investopedia mentioned that US NFA settled 166 cases in 2008, but only 23% received lost funds.
Continue Reading at How to Recover from Forex Broker Scams
What are the valid documents that can be used as evidence of a scam broker?
Collect all relevant documents, communications, and transaction records related to the scam.
Some evidence you can gather are:
- Screenshot of your trades
- Communication records
- Account statements
- Transaction history
- Terms and conditions of your broker
- Testimonials from other traders
Continue Reading at How to Recover from Forex Broker Scams
