3 Of The Worst Forex Trading Scams To Watch Out For

Where there's money, there's competition; and where there's competition, there's unfairness. Traders today have to thrive in a competitive environment while Forex trading in Indonesia and brokers have it no different. In fact, the competition is scaled up far higher when it comes to brokerage firms because each agency has to make sure they get enough traders as clients. 

Even after getting a good few traders partnered up, some agencies choose to employ means such that the traders lose money while the brokers make profits. And the novices, not knowing well from bad, end up getting scammed and lose a lot of money. 

Forex Trading Strategies

Though Forex trading markets look all happy and pink on the outside, a lot of wrongs go down which cost traders a lot of money! 

Here are 3 scams you should watch out for to have a pleasant trading experience: 

1) Fake Claims Of Profits: 

Brokers have to act quickly if they want to bring in traders, and what better way to attract traders than with false claims of profits? Any trader will get starry-eyed when he hears the words that go something like "100% returns and profits guaranteed!” This is the first tactic many Forex brokers use to lure in customers. How to avoid it? Simple, just accept the fact that such claims are always baited. It is impossible to have a completely profitable trading career! Don't fall for such claims and keep your mind sharp. 

2) Coercing You To Invest More: 

How much you invest should always be decided by you. And this decision should come as a result of rigorous research and be backed by knowledge, not through the whispers of your broker. Forex brokers earn through spreads and commissions, and these rates go up as you invest more, so they will obviously want you to put in all your capital! If you really think more investments are needed, go for it, but make sure this move is backed by the necessary research and ensure your calls are educated and not influenced by the brokerage.

3) Signal Sellers: 

Forex trading signals help traders catch entry and exit points and draft a strong Forex Trading Strategies. To find the perfect point of entry and exit, traders make use of signals, and these are provided by signal sellers. Keep in mind that in these cases there is very little on the line for sellers, so they have all the room to scam you! 

Many traders complain about getting cheated by their brokers, and while some are lucky enough to get away unscathed, some lose a good portion of their capital. Don't make the same mistake novices do, sign up with a reputed and reliable Forex Trading In Indonesia like WesternFX! We have been regulated by the top financial bodies, and have a clear-cut policy with all our services aimed towards helping you grow as a trader. 

Avail our demo services and you can see for yourself! Call us now to know more about Forex Broker.