Lucky Draw Promotion

1. Normally, a trader has to trade with a certain number of volumes before withdrawing the profits derived from the no deposit bonus.
2. A welcome bonus requires a deposit from a trader for getting this bonus.
3. The deposit match bonus typically has a minimum deposit requirement, a maximum limit, and the broker matches a trader's deposit at a preset percentage, typically ranging from 30% to 300%.

Bonus schemes from forex brokers have some requirements regarding how much your initial deposit should be or how much you need to trade if you intend to withdraw profits. The requirements may be okay for some traders, but some others may see them as a source of frustration.

Continue Reading at Exposing Forex Broker Secrets

This is the type of blacklisted broker that will grab your money very quickly and fly away at night to evade their responsibility. They come fast, and they go even faster if they have already got what they want.

On their website, they will write bogus claims of easy and big profits, or anything that could attract you into investing with them. But once you make a deposit, they will disappear either by declaring bankruptcy or announcing nothing at all.

Visiting their website will be pointless because at this point it has already closed down. In fact, this type of scam is so ubiquitous that many websites are launched and closed down within less than a year.

Continue Reading at Top Blacklisted Forex Brokers You Should Avoid

Brokers that loosen their requirements are much more exposed to fraud than those that do not.

Many clients have been complaining about the long safety procedure and identity verification, which can take at least a few business days to complete.

If the company keeps requiring clients to double-check their login details, verifying their identities multiple times, and confirming their intentions, people can easily back away and this means lower revenue.

Most companies wouldn't take such a risk in this dire economic situation, as customers are their sole source of income.

In the cost of satisfying their customers, brokers must face the risk of fraud. By lowering their security measures, they are practically exposing their vulnerabilities to the public. And in reality, one fraudster can cause greater harm than 100 legitimate customers can cause good.

Continue Reading at Fraud Trends that Brokers Should Watch for in 2023

1. Try again. You've already had the experience now and can choose better.
2. If necessary, check them out with your local financial authorities, and ask what they can do if you are scammed again.
3. Manage your money better, don't put them all in one basket. In addition to that, there are several things you can do to protect yourself further.
4. Take immediate steps to protect your financial accounts and personal information.
5. Contact family, friends, or support groups to share your experience and seek emotional support.
6. Learn from the scam experience by educating yourself about common fraud tactics, warning signs, and ways to protect yourself in the future.
7. Use the experience as an opportunity for personal growth and learning.
8. Recognize that scams can happen to anyone, and it does not reflect your intelligence or competence.

Continue Reading at How to Recover from Forex Broker Scams