To avoid losing your money to a forex trading scam or a fake broker, it is important to follow the following best practices:
Sign up only with a regulated broker
Do research on the broker and verify all contact information
Beware of guaranteed returns or extravagant promises
Read the terms and agreements and ensure all information about fees is discussed and clarified
Start with only a small amount and see if your funds will be released
Test customer service to ensure they are knowledgeable and provide real information
Look for a choice of payment options, practice accounts, fees, spreads and commissions, and other resources
The first thing to look for when signing up with a broker is that the broker is well regulated and has high-tier licenses.
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