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To conduct successful trading, you need to find a reliable intermediary. Forex brokers reviews from other traders will help you successfully cope with this task. It is important to emphasize that real people publish them. Thanks to this, you get the accurate “first hand” information about the brokers you are interested in. Successful traders recommend first reading them and only then starting to work. Comfortable search engine allows to quickly find Forex brokers reviews at any convenient time.

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Comment: If you haven’t already DON’T go near these guys, the are the biggest scam artists all wrapped in a polite positive big PINK bow. You WILL lose any money you put in. Talking from experience I lost over 28k$, they started by giving some flimsy reasons for me not being able to withdraw my profits then they pushed me to add more money and when I wasnt buying that idea anymore they stopped contacting and responding to my contacts. It was the grace of god that someone recommended dimitru at ivtcysec-recovery,tech. This was how I got almost all of my money back, got over 80% of it

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Comment: Have you gotten your bitcoins stolen from your wallet or invested in an ICO that turned out to be a scam, you are not alone because this happened to me too. I initially lost $544,000 in just three months from Cryptoallday and a couple of others. I contacted the authorities and they referred me to recoverywealthnow360 at gmail dot com who helped me recover all my funds within 2 days. I’m speaking up to improve awareness of these cryptocurrency thieves and help as much as i can to reduce victims to the bearest minimum. If you have been a victim, Simply contact recoverywealthnow360 at gmail dot com

Comment: I met Aaron Ellesmere on Facebook and we got talking and after a while we started dating. He claimed to be working with Aramco in Saudi Arabia so seeing him was difficult. Because of the restriction in country i couldn’t do a video call with him so as to verify his identity. He was always giving excuses of why he cant visit me. Whenever we schedule to meet its usually one excuse or the other. Later he introduced me into an investment with 24OPTIONS that i should be investing my money there. He claimed that his money was in an account that is fixed for 5years. So everything was solely my money. I asked that i should visit him but he refused with excuse of work schedule and i didn’t want to be seen as being overbearing. I invested a total of 1.43million USD in 24OPTIONS. This was what i made from my fathers inheritance. I couldn’t withdraw my money and they were still asking me to invest more. This continued until i read a bad review about them and i showed him but he told me not to worry. I later told my colleague what i was going through and she asked me to report the company and it turned out to be that they are scammers. You can google to see their bad reviews. At this point Aaron blocked me from all means of communication. I’ve reported him to the FBI and he’s on their wanted list. Although I’ve recovered my money through a company called RECOVERY KNIGHTwhich was referred to me but I’m still looking for Aaron because he’s tampered with my credit card and i want to get back all the money that i sent to him through western Union. Ive filed a fresh complaint through WWW RECOVERYKNIGHT COM for what i sent to Aaron since they do not ask for upfront payment. Other companies were asking for upfront payment which i refused to to until i met this company. Aaron’s Facebook account is down as well.

Comment: I was involved with different Binary Options Trading Companies. I was seeking to recoup losses sustained in an earlier online scam where a company contracted with me to build me a web site. That company and their affiliates were scam operations and I lost about $55,000 or so. In my zeal to recover those losses I sought out 7 different Binary Options Trading Companies and worked with them all off and on for a while, as noted above. All companies in time proved to be scam operations. When I total my out-of-pocket expenses, bonuses given, and real profits made (which I never saw), my losses sum to about $860,000. For each responsible company, I had Excel spreadsheets that detail every transaction I made. After my losses reached the level I couldn’t continue, I set out to finance recovery efforts by so-called recovery experts. I financed so many I do not have an exact count, but there were at least 7 or 8. All failed to recover my money because all the recovery experts were scammers. Late last year I was in the process of identifying legitimate recovery operations because it was my impression that in 2020 there are more individuals and/or companies who can be trusted to conduct a legitimate recovery effort. I am well aware some or many or most of the testimonials may be fabricated because there is now a growing industry in this world to scam the scammed. Not quite long I met a customer who talked to me about chargeback and how they helped her recover her bitcoins and thereafter I contacted RECOVERYKNIGHT. com. Immediately I contacted the recovery firm and followed the recovery processes. I am glad to tell you now that I was able to recover almost 90 percent of my loss. Expose the scammers as much as you can and look for a way to get back your This broker is a scam company, I had lost over 102,000USD to them and all they did was to change my account manager, The new account manager assigned to me wanted more money and when I refused I was locked out of the account. I emailed them and they never responded to me. I had to reach out to a recovery expert WWW RECOVERYKNIGHT COM to help me recover my money back from them. Within weeks of reaching out I have recovered all my money back from them and it was successfully recovered money as early as possible.

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S&P Broker Review – 5 things you should know about snpbroker.io

Beware! S&P Broker is an offshore broker! Your investment may be at risk.

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

S&P Broker claims to be a forex and CFD broker, offering six account types with a leverage of up to 500:1 and the MetaTrader4 platform. Unfortunately they are not regulated and their website is almost completely anonymous. On top of that the MT4 platform is provided by a third party – Gelko Partners and that is also a bit unusual.

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As for the trading conditions, as tested with a demo account the benchmark EURUSD spread floated between 1,8 pips and 1,9 pips and that is half a pip higher than the levels traders would usually consider acceptable.

Trading assets are advertised to be over 500, but in reality we counted just 23 currency pairs and two CFDs – on silver and gold.

S&P Broker regulation & safety of funds

There is no information about the company that operates the broker, neither in the S&P Broker presentation, nor in their Terms and Conditions. And apart from an address in Luxembourg and a UK phone number, the website is basically anonymous. So we decided to check their location with Google Maps Street View and it turned out that on the address S&P Broker has given us there is no office building, but an open field . See for yourself:

Also S&P Broker turned out not to be regulated, neither in Luxembourg nor any where else for that natter. That means the broker does not have legal right to offer financial services on regulated markets like the European Union, the US, Canada, Japan, Australia or the UK.

Bear in mind as well that dealing with unregulated brokers is one of the most certain ways to get scammed. That is because unregulated websites like S&P Broker are completely unaccountable and quite often even anonymous.

Besides, among the rest of the benefits of trading with let say a FCA broker, you will even get an insurance on your deposit for up to 85 000 GBP, which will be payable in the unlikely event your broker files for bankruptcy.

S&P Broker deposit/withdrawal methods and fees

S&P Broker does not tell us what payment methods do they accept. We just know that the minimum deposit requirement for a starting account is 250 USD.

As for the withdraws, bear in mind that there is withdraw fee in the amount of 50 USD with wire transfers, 35 USD with credit cards (including additional 10 USD for a processing fee), and 25 USD with e-payments. On top of that a levy of 10% of the withdrawal amount will be charged in case you have not traded your deposit at least than 200 times. That we should note is highly unusual.

Bear in mind as well that if you accept a trading bonus, in order to withdraw you will have to trade at least 20 standard lots or 2 million USD for every 100 USD bonus you have accepted.

The minimum withdrawal amount with credit cards is 100 USD, while with a bank wire it is 250 USD.

How does the scam work?

Scammers use lots of tools and resources to get to your money. And they also use the social networks like Instagram and Facebook, as well as the so called robo scam websites like Crypto Revolt and Bitcoin Evolution where you might be tempted by an offer for fast and easy returns in a exchange of a small investment.

And if you do register, leaving your e-mail and phone, instantly you will be transferred to the web page of a unregulated scam broker, where you will be asked for an initial deposit of about 250 USD.

Then scammers might either offer to manage your account, or they will let you trade, but actually will be manipulating your traders, so that you will be left with the impression that you can double your money every couple of days.

That is also the moment when you will start receiving phone calls form your “senior account manager”, who will be advising you to deposit a larger sum – at least 10 000 USD, in case you really want to start making big money.

And there is a good chance that you will invest those money without knowing you have been scammed until the moment you decide to withdraw some of your funds. Then scammers will tell you, you are not allowed to withdraw because you have not met some minimum trade volume requirement, possibly linked to the welcoming bonus you have received or something like this. In any case all your withdraw requests will be canceled. And the assets in your account might also be frozen and basically that will be the end of the story.

What to do if scammed?

The only viable option you have to retrieve your deposit is by filing for a charge back with your credit card provider. And besides, if you have payed with VISA or MasterCard you will be able to do that within 540 days and that is good news.

In case scammers have managed to get to your credit card number and online banking password, immediately change the password and cancel your credit card.

An do not trust the so called recovery agencies. They will not help you in any way, but will simply collect some payments in advance and basically that will be all.

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22 Comments

S&P Broker are scammers! Do not invest with this group!

S&P Broker is a SCAM. Please do not make the same failure as I did. They abused my credit card and they also do not want to pay the money out. Such company should be forbidden.

Who are the ones that we can trust then?

Who are the top 10 scammers?

I made an initial deposit of 250 USD with them, later realized they are not safe, wnanted to cancel my account and withdraw the money, which they did not give it back. Asked for all kinds of documents, which I ggave them, then they simply did not answer any of my request emails.

Do not do any business with them. I started a account but it was very closed that i could lose all my savings. My swedish bank helped me. Thanks god. They are thiefs

How did the swedish bank help you?

Hur hjälpte banken dig och vilken bank har du?

it’s a scam, I created an account but did not deposit any money as I want to think again before I give them any money. Since then, they keep calling me every day, every night to ask me to give them $250 USD. I said I am not interesting anymore, and they keep asking why and why and why. They even called me in the middle of the night just to ask for money. I have to block their number. And thanks to God, I did not send any deposit to them.

Luckily, I have given them my Skype number to call and it is easy to just block them that way, as well.

BEWARE of S&P BROKERS the are a bunch of thieves they have telephone lines which are liked to their computer so when you ring them back no one will answer one of them is located in Luxembourg he goes by the name MARK HOFFMAN and another one is really aggressive and intimidating his name is KEVIN ANDERSON be careful with this wolf he said he is based in Hampshire in England but I doubt that they stole my initial deposit of $250 within a month from opening my trade account with them as they were trying hard for me to invest $12000
this happened yesterday

Kevin Anderson also tried contacting me but I emailed the bastard back as I want to withdraw my 250 USD investment. Thank you for posting this on the forum should hopefully now get the money returned by my bank as lodged fraudulent dispute and cancelled my credit card

Don’t touch S & P Broker. They a bunch of scammers. Total pricks!

Don’t go with S & P Broker will try all the tricks to get your money and make false trading losses, beware of these scammers.

I deposited $250 and had the account open for 3 weeks and my balance was showing $311, when I asked to withdraw they said to wait 2 days because some trades had been set up, then when I checked my balance a day later I was -$76, now I cant get hold of them, steer clear of S&P, they are scum, the person I was dealing with was David bloom.

I was the most stupid. I fell for David Blooms lies He is very convincing and I have lost £27000 by purchasing bitcoin through him that I now know never existed. I am now having to sell my home. There is no way to contact them now as they have moved all their phone lines and emails address. Anyone reading this please learn from my devastating stupidity.

Robert Kofi Adams

I have been scammed by a number of brokers but none as obvious as this one. I opened an account with S&P broker through the Calloway Crypto System with $287 deposit. The software did not connect or synchronize so I decided to withdraw my deposit. The Account Manager who called himself Andy took a BUY trade on EURAUD. This trade was closed ITM of $17.56. I put in a withdrawal for my deposit on the 27th July 2020, this stayed PENDING and then on the 13th of August Andy took a BUY trade on BRENT oil that wiped by balance and allowed it to run into -$100.47. There was no MARGIN CALL, work it out. Andy phoned me on 13/8/19 at 15:27 to tell me I have lost all my money with the software. In any case the software was not synchronized so I could not take any trade and besides the software The Calloway Crypto System only trades forex and Crypto. You are warned don’t trade with this broker a true scammer
I have been scammed by a number of brokers but none as obvious as this one. I opened an account with S&P broker through the Calloway Crypto System with $287 deposit. The software did not connect or synchronize so I decided to withdraw my deposit. The Account Manager who called himself Andy took a BUY trade on EURAUD. This trade was closed ITM of $17.56. I put in a withdrawal for my deposit on the 27th July 2020, this stayed PENDING and then on the 13th of August Andy took a BUY trade on BRENT oil that wiped by balance and allowed it to run into -$100.47. There was no MARGIN CALL, work it out. Andy phoned me on 13/8/19 at 15:27 to tell me I have lost all my money with the software. In any case the software was not synchronized so I could not take any trade and besides the software The Calloway Crypto System only trades forex and Crypto. You are warned don’t trade with this broker a true scammer

TA-ca1745be Closed: 13 Aug 2020 15:26
BRENT
BUY
-$405.00
-323.04%
Closed: 23 Jul 2020 9:39
EURAUD
BUY
$17.56
15.72%
19 Jul 2020 18:46
Deposit
$287.22
Withdraw
287.00 USD
1602597
26.07.2020
09:30
PENDING
on 26.07.2020 09:30

О скаме форекс-брокеров

Сегодня хотелось бы затронуть крайне неприятную тему для все трейдеров – скам брокера. Ведь подобное явление неприятно каждому, кто имеет отношение к торговле на финансовых рынках. Ни для кого не секрет, что на территории СНГ нет ни одного брокера с мировым именем, а также надежным лицензированием, что доказывает регистрация в оффшорных зонах.

Учитывая, что это наша данность, то от скама брокера не застрахован ни один человек, который торгует на форекс-рынке СНГ.

Что такое скам?

Если выяснить, что значит слово “Scam” с английского, то мы сможем увидеть, что дословно оно переводится как мошенничество, но это не совсем так, потому что с мошенничеством брокера мы можем столкнуться ежедневно, а вот скам – это немного другая история.

Большинство трейдеров под скамом понимают один из видов мошенничества, когда компания прекращает вывод средств своим клиентам. Чаще всего руководство таких компаний прикрывается форс-мажором и обещаниями урегулировать выплаты в ближайшие сроки.

Помимо этого, когда клиент обнаружил, что не может вывести средства, то моментально пропадает техническая поддержка, или ответа можно ожидать месяцы (и это не шутка).

Какие еще виды обмана существуют ?

Очень часто маркетологи форекс компаний заманивают «инвесторов» высоким гарантированным доходом при относительно низких стартовых инвестициях, а средства никогда не использовались для торговли, просто были украдены «торговыми экспертами компании»

Очень широкий спред. Никто обычно не называет манипуляцией брокера, а ведь вы не встретите спред в несколько пунктов, который должен быть в паре EUR/USD ( ведь это самый ликвидный инструмент на рынке валют), а куда гораздо больше.

Некоторые форекс-брокеры умудряются продавать торговых роботов за очень большие деньги, которые, как вы понимаете, этот торговый робот в конечном итоге сольет. Будьте очень осторожны!

Помимо этого, компании очень часто дают сигналы для входов начинающим трейдерам, нужно понимать, что эти сигналы могли быть просто взяты с головы наугад, чтобы вы вошли в сделку и потеряли на комиссии.

Это только часть уловок недобросовестных брокеров, а мы давайте вернемся к нашей теме о скаме.

Какие причины у скама?

Как правило, скам происходит у брокеров, которые изначально были готовы к такому развитию событий (ликвидации компании). Основная причина у форекс-брокеров очень простая – средства трейдеров находятся внутри компании, а сделки не выводятся на рынок. оворя простым языком – брокер исчезает с деньгами инвесторов, то есть попросту их крадет.

Как можно предугадать возможный крах?

  1. Негативные репортажи про компанию на телевидении и в сети интернет. Неважно, что будет являться причиной этих сюжетов, но знайте точно: инвесторы захотят забрать свои вклады, а если более 20% средств, которые находятся у брокера запрашиваются на вывод, то это верный скам.
  2. Постоянные сбои в работе оборудования (торговая платформа, перебои с ордерами и т.п.).
  3. Исчезновение платежных систем для ввода-вывода средств. Когда платежная система узнает, что брокер является мошенником, то она стремится как можно скорее прекратить сотрудничество, чтобы не очернять свою репутацию. На этот момент очень немногие обращают внимание.
  4. Агрессивные звонки маркетологов из компании. Вас будут настойчиво уговаривать внести депозит или увеличить (если таковой есть) под различными предлогами: улучшенные условия для крупных инвесторов, розыгрыш дорогостоящих призов для тех, кто сейчас внесет депозит, и еще множество подобных уловок.

Что делать, если вы попали в такую неприятную ситуацию?

Могу подсказать только один вариант, который, возможно, поможет вам в этой сложной ситуации – чарджбек. Для того, чтобы воспользоваться этой возможностью, вы должны были перевести средства либо картой, либо банковским переводом.

После запроса брокеру на вывод средств и по истечении срока, в который по условиям контракта компания должна была вывести средства, вы должны направиться в банк с этим договором и скринами, чтобы написать заявление на чарджбек.

Если вы пополняли депозит не позднее, чем 6 месяцев до скама компании, то есть шансы возвратить свои средства.

Наиболее известные случаи исчезновения форекс-брокеров с рынка.

Давайте вспомним истории с банкротствами форекс-брокеров, как они начинались и чем они закончились.

MMCIS

Эта компания начала свою финансовую деятельность в 2008 году, но дела сразу как-то не заладились, ведь на тот момент о компании даже никто и не слышал. Решение появилось в 2009 году: компания запустила социальную сеть для трейдеров, что помогло ей приобрести новое лицо.

Условия торговли для трейдеров были просто ужасные, а ведь неудивительно, что компания теряла клиентов и не успевала находить новых: ведь не выплатить прибыль, дорисовать график, или просто заблокировать аккаунт плюсового трейдера – легко.

Многие задаются вполне логичным вопросом: почему же люди шли туда торговать? Ответ очевидный и простой – 50 % мгновенный бонус к депозиту. Уже это обстоятельство сразу же должно было натолкнуть на мысли о пирамиде, но не развитая тема, в те годы форекса, принесла компании желанные деньги.

Многие стали считать компанию мошеннической, а в 2020 году компания уходит в тень. Это было бы логичным финалом этой истории, но это было только ее началом.

В 2020 году «Форекс – феникс» возрождается и приобретает название «Forex MMCIS group». Первым делом руководство компании занялось восстановлением репутации, но что самое удивительное, что вкладчики поверили.

В 2020 году компания анонсировала запуск «MMCIS Index Top-20», а проще говоря, инвестирование в ПАММ-счета (о которых, к слову, я уже писал). Ведь условия были действительно привлекательные, но для тех, кто не понимает, что такое торговля на финансовых рынках, чуть ниже описываю почему.

Условия компании для инвесторов:

– Минимальный депозит 100 долларов

– Гарантированная доходность от 50 до 150% годовых

– Возможность забрать свой депозит, когда пожелаете.

Самое главное, что не нужно самому торговать, ведь это отличная схема, а где же подвох? Его вкладчики смогут ощутить уже в следующем году. Давайте обсудим, что же должно было насторожить инвесторов?

Правильный ответ – доходность. Вот как можно гарантировать доходность от 50 до 150% процентов в год? Давайте согласимся, что 50% годовых, это хороший результат, а 150% – прекрасный. Не хочу сказать, что это недостижимый результат, даже больше, хороший трейдер должен стремиться и получать доходность 50%, но простите, ее нельзя гарантировать, ведь даже самый классный трейдер в мире не сможет Вам гарантировать какую-либо доходность.

Чем все закончилось?

В 2020 году реклама этого проекта была из всех рупоров: от афиш в городе до рекламы на федеральных телеканалах иии…. MMCIS потерпела крах, а далее начались стандартные процедуры.

Для вывода денег требовалась верификация личности, скрин чека оплаты за коммуналку, где фигурирует адрес проживания клиента, а в ответ ничего. Еще два месяца потугов от компании и надежд от вкладчиков закончились потерей денег последней.

Forex Trend

Для закрепления урока разберем историю еще одного брокера, который обанкротился ( или же просто украл деньги вкладчиков).

Forex Trend – это компания, которая была основана в 2009 году, а главный офис находился в новозеландском городе Окленд. Логично, что и регулятор находился в этой стране. А вот юридический адрес находился на Виргинских островах (Ха-ха – Классика).

С начала истории уже пошли нестыковки: генеральными директорами являлись Владимир Лозовицкий и Манлай Джанг, а в интернете директором уже значился другой человек, некий Игорь Кузин.

Торговые условия для трейдеров были в целом стандартными и особых нареканий от управляющих счетами не было.

Настоящее развитие брокера началось в 2020 году с привлечения инвесторов и открытия своих отделов в Украине. Уже тогда стали меняться условия торговли, которые были неприемлимы для рядовых трейдеров.

В этот момент пошла шумиха для инвесторов с ПАММ-счетами, на которую повелись очень многие вкладчики. Чтобы вызывать доверие у инвесторов, компания старалась очернить других брокеров, что они являются ненадежными.

В 2020 году топовые управляющие показывали сверхдоходность, что помогало привлекать средства в компанию. Уже тогда пошли подозрения, что это пирамида. Как можно так уверенно показывать доходность при кабальных условиях?

В 2020 году заметно снизилась доходность у трейдеров (это неудивительно, ведь нельзя постоянно показывать высокий уровень доходности). Однако, не это самое страшное – в июле появились трудности с выплатами. После нового года перестали возвращать депозиты вовсе.

Чуть позднее стало известно, что компания сделки на рынок не выводила, да и вовсе никакой торговой деятельностью не занималась. Более того, как вы понимаете, управляющие оказались фейковыми, большей части из них просто не существовало.

Забавным фактом является тот факт, что после краха MMCIS, Forex Trend переманила инвесторов на свою сторону.

Тот же год, можно сказать, в одно и то же время, обернулся крахом и для «детища» «Пантеон Финанс». История была очень похожа на Forex Trend, и это неудивительно, ведь по слухам у этих компаний был один соучредитель.

Спасибо большое за то, что Вы прочитали эту длинную статью!

Forex Broker Reviews 2020 – Ultimate Guideline

Forex Trading itself it’s difficult enough, to add another type of risk, is Broker Risk. The purpose of this research on FOREX BROKER REVIEWS is to ensure that you do not engage Trading in a Fraudulent/Scam Forex Broker. We monitor, compare and analyze brokers to ensure that our study meets your expectation. We are committed to helping our readers pick the Best Forex Brokers.

Note that there is no Best Broker in general, But you need to find the best one suited your Trading Style & Strategy. For this reason, we have presented a detailed research on what a trader should consider before selecting a Forex broker.

Key Considerations – How to Choose a Forex Broker

Some brokers may also have unfair spreads, hidden legal details, and fine print, or even just be outright frauds and scams. As important as a broker is, it is often very difficult to choose the right one for your investment. There are some factors to consider before making a choice. To choose the reliable broker for you, consider the following;

Regulation:

The implication of trading with an unregulated broker is that you will not be able to do anything if it turns out to be a scam. There are several regulatory bodies worldwide that regulate the activities of Forex brokers.

It is important that you look out for a broker that is registered and regulated by a strong regulated body. Some Brokers hold regulation with more than one securities.

Our recommended Regulated Bodies are;

  • FCA (UK)
  • CySEC (Cyprus)
  • S. SEC, CFTC, NFA, NYSE (USA )
  • Australia (ASIC)
  • Mifid (Eurozone
  • FSA and JSDA (Japan)
  • FINMA (Switzerland )

Reputable brokerage services will always have suitable regulatory stamps, approvals, and other verifiable documents and pieces of evidence to indicate their compliance with proper regulations and laws. Make sure you start your financial trading with a highly regulated Broker.

Reputation & Years in Business

Simply, the longer the period the financial broker has been in service is the better for you since that pass the test of time that guaranty you of their service, and support. The reputation is a key feature to consider when picking your trading bridge, I mean your Broker.

You already know by this time that there is no perfect or so-called best Trading Broker. We do suggest you go through online-research as per our guideline about your possible broker.

Remember, when positive reviews outweigh negative reviews, the broker is the right fit and you can proceed to trade & trust your money security with them.

Headquarters Location:

This Forex broker review also suggests that you find out where the broker is located. Usually, there should be an address at the bottom of the home page or the Contact Us page of the broker’s official website. Besides, the location of a particular broker can give you an idea of the level of regulation it gets. While some countries have strict regulatory compliance, others are just on paper.

Therefore it is advisable to choose a broker within reputed country monitor by a reputed regulator to avoid unnecessary frustrations.

Trading Software and Platforms

In order to execute your trades, you must have a trading terminal connected with a broker’s server. While many platforms exist in the industry, by far the most common is Meta-trader 4 or MT4 in short. This trading terminal is used by over 85% of brokers, and dozens of reviews on the product exist that detail its functionality and flexibility. There are lots of free and paid indicators, scripts & Expert Advisor is found in the Industry for MT4 terminal.

However, it is far from the only solution, and you may find other options to be better suited to your needs. There are some other terminals like cTrader, NinjaTrader, among other.

Some brokerage firms may release proprietary software designed to function with their service, and this software often ends up performing better than anything else for that specific broker.

Mobile Terminal:

You should also have a strong mobile terminal to allow for advanced trading and management when not at home or near a computer. A smart investor has access to trading software on every piece of tech he or she owns, to allow for fast and reactionary trading as situations change throughout the day.

Web Trader:

Nowadays, The web trader is becoming more popular among the traders. The platform connects to the server through the web-browser.

There are some brokers that have their own proprietary trading platforms where you can actually carry out your trading activities

Leverage

Leverage entails the loan that a broker gives to the investor. Forex Broker offers leverage from 1:1 to 1:3000 nowadays. Whilst leverage enables traders to magnify their profits on successful trades, it also magnifies losses on unsuccessful trades; meaning that it is possible to sustain significant losses, perhaps even the entire sum of your invested capital

As such, we urge all clients to adopt a prudent risk management strategy in accordance with their investment goals and level of trading experience.

Deposit and Withdrawal Methods

The ease of moving funds from points A to B is a major factor to consider. It is important that you check what payment options the broker offers and decide if they are convenient for you like Neteller, Skrill, Paypal, Bitcoin, Cards (Visa/Master Card), among others.

For withdrawal, it is required to use the same payment method that you made your deposit your fund with. In case of several payment methods used the most used one will be considered as the main payment option.

Furthermore, you must be sure that the payment method is supported in your country, whether there are payment charges and how much, and how long it takes for transactions to be completed.

Spreads, Commissions, and Fees

The dealing spreads that your account uses must be competitive if you’re to record long-term success in online trading. For every currency pair, there is a bid price and an offer price. The difference between these two is what we call the spread. Some brokers charge an additional fee or commission, apart from the fact that you trade on spreads, for every transaction you carry out.

Fixed Spread:

A fixed spread doesn’t change regardless of the direction of the market. It is the spread you’re offered that you pay. It is fixed by the broker and is not changed by trading conditions or market volatility. If you like some form of stability, this might just be something to look out for.

Floating Spread:

This is also called variable spread. Its value is determined by the changing value of ask and bid prices. This means that the spread you pay for a currency pair is not static. Each spread is dependent on supply, demand and the amount of total Forex traded.

Commission Fee:

This is the fee charged by the brokerage firm for trading transactions conducted on your behalf. The commission fee can either be a fixed fee regardless of the size of the transaction, or a relative fee that is determined by the size of the transaction. That is, while a fixed fee may be put at $1 dollar whether you’re trading $100 or $10,000, a relative fee means that you pay higher when your transaction is large.

You should look out for a broker that is transparent with this process and does not charge hidden fees.

Types of Accounts Offered

Basically, your tolerance for risk and invest amount would determine the type of Forex account you operate. There are three main types and each of them has its peculiar advantages and disadvantages. It is important that you look out for what accounts your potential broker offers and if they suit your trading preference.

Micro:

This is, perhaps, the most suitable account for beginners. You would only require 1,000 units of the base currency to make up a Forex micro lot. Here, you can also take advantage of leverage to increase your potential returns.

This account allows you to trade in smaller lots. For most brokerage accounts, the sum is $10,000, just 10% of what the standard lot costs. Many brokers also offer such accounts especially because they want to provide a room for new traders who may be skeptical about trading full lots because of the intensive capital involved. You should know that because the risk is low, you will also yield low profit, $1 on every positive PIP movement.

Standard:

This is very common in Forex trading. It allows you to trade in excess of $100,000 per lot, using the standard lots of currency. But of course, you know you do not have to provide all of the $100,000. The principles of leverage and margin apply here, where a 50:1 leverage allows you to pay just 2% of the total trade as a deposit. A broker would normally offer more services to you if you have this account, but you should know that it is capital intensive.

Margin Requirements

I often tell people that transparency is key. You need to be told in clear terms what you’re getting into. I have already to you about margin and how a broker would need it to take care of potential losses. The requirement, however, varies from broker to broker. You need to know how much each broker requires, and what policies and guidelines they operate by to determine if you can cope with them.

Information & Resources:

Remember that Forex Traded in an international market, so you should be looking for international economic news. There are lots of global issues that affect the Market. Look out the informational facilities provided by your Broker this might includes Free Signals, Daily Market analysis, seminar, webinar and other trading resources.

Forex Bonuses, Promotions & Contests

We love the free stuff and gifts – Thus, Some of Forex Broker offers attractive bonuses, gifts, contest and freebies for their new & existing clients. Note, watch out the broker’s activity with our above guideline before going through the bonus.

No Deposit Bonus

A Free-Credit that offers to the new clients to start their trading without any invest thus no risk as well. It is a great way to test the broker’s platform and services. The bonus amount offers up to $100 USD, while some of the brokers allow withdrawing profits assets the terms of the promotion.

Deposit Bonus

A Bonus provides on client’s funding. Usually, the bonus offers in the percentage of the trader’s deposit amount.

Contest

Forex contest is a trading competition held among the traders with the equal conditions for all participant. The winners receive cash/tradable money and gifts as the prizes of the promotion.

Conclusion

This Forex brokers review has provided you with a comprehensive list of factors that will help you determine who the right broker is to transform your investments into super returns. We all know that Forex trading is a risk, but getting the right broker can help reduce that risk.

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