6 Ways To Identify Fake Forex Broker

Fake Forex Broker

Forex is one of the best ways to make money online with less effort. The only thing you need for forex trading is some money for investment and the knowledge of trading. But, you will also find so many people who are losing their money and blaming that forex is not a good way to make money online.

Well, this can happen because of several reasons. One of the common reason is, some people are unable to recognize a fake broker and ultimately lose the money without any profit. So, to be a good trader, you should know how you can, identify a fake forex broker.

Official Website

If you check the official website of the broker, you will find several things and it will help you to make the decision is it a fake one or good one. Some a options are standard, but you should look for something different. Suppose, if you find that there are so many reviews are added to the site, and all the reviews are seeming common, there is a good chance that this is a new broker and the main purpose is to earn money through an affiliate.

Comment Option in the Site

Most of the business website keep the comment section on the site. It helps the users to express their thinking and experience with the business. If your selected broker site has the common part, that is a good sign. If it is missing, it can be a fake one. Usually, you will find the common section in the bottom of the web page.

Check the Link

An affiliate link is not a worst thing until someone is not cheating with you. In some reviews for different brokers, you will find the character landingID=3 or affiliate=fxsite. These link extensions are mainly for doing affiliate. As I have mentioned, affiliate is not a bad thing, but if the site owner hasn’t clarified this in the site, there may have some problem with the broker.

Members of Forum

Almost, each broker site has a separate forum section. Forum helps the users to share the user thoughts and getting solution about different issues from other users. Before you are selecting a broker, look for the number of members in the forum. If it is a popular broker site, there will be so many members and different threads. But, if you find that there less information in the forum section, there are possibilities that the broker is fake.

Search on The Web

After selecting a broker, look for reviews about the broker from some trusted site. Read what other people are saying about the site. Make sure that you are reading an honest review, otherwise, it will be a hassle for you.

Customer Service

Check the customer service. Look for the quality of the service and try to understand how they reply and give solution for your problem. If there is less response from the broker, maybe this is a new broker, or it is a fake broker.


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