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How do I research broker bonuses?
Try to find reviews about your broker and their bonuses to get a better understanding of what you are getting into. Look for the good and the bad, the do's and the don'ts, etc.
Don't be hasty and try to surf the internet for a while and come back when you have a better idea. Looking at the track records of your broker is recommended, make sure they are regulated and not a scammer.
Continue Reading at What You Need to Do in Choosing the Best Forex Bonus
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
My broker is registered in Vanuatu, what should I do?
If you are trading with a multi-licenses forex broker, then you could take it easy. Your broker most likely only seeks VFSC licenses in order to smooth their international operation, while providing services in accordance with higher requirements set upon by better regulatory agencies.
There's a significantly different consideration if you are trading with a single-license forex broker (and the license in question comes from VFSC). It is possible to trade with them for some time with minimum capital, but it is not advisable to continue working with them in the long term. Do yourself a favor by moving your funds to better-regulated forex brokers.
Continue Reading at What Does VFSC Regulation Mean for Forex Brokers?
How to find out if my broker marks up the spreads?
Believe it or not, you can ask the broker directly. Some ECN/STP brokers openly state that they mark up spreads because they feel they have the right to do so.
You can also check the authenticity of spreads from an ECN/STP broker that (perhaps) covers up its spread mark-up by directly comparing the broker's spread with the actual market spread.
Continue Reading at Forex Broker Cheats and How to Anticipate Them