Feb 192010

Before making a choice for a broker be careful for few things:

  • Verify where is registered the company (the most companies are registered in off shore zones)
  • Check if you find details about the company, physical contact address (not PO Box)
  • Check if someone answer to a call and what kind of informations is giving
  • Check if is acredited and regulated by a trusted authority (like NFA)
  • When you deposit money to a forex broker, be careful where you deposit money to discover that not reached the right place. Generally prefer wire transfers that do not find that pulling the card more than you paid to cover margin excuse.
  • Better start with a demo account or smaller amount to understand very well how it works and if have bugs or strange things on the platform
  • Research on the forums and searching engines about the details and comment left by others

Be aware that trading scammers are everywhere on the web. They will appear to be a legitimate business. They will be pleasant and well spoken. Their leaflets, emails, letters and order forms will often look professional or official. Scammers are persistent and persuasive and try to rush you into making a decision. They may also target junior employees who may be less aware of the existence of scammers.

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