There are unlimited number of funds managers, online forex and stocks broker across the globe, many of them have no principles. Many traders become victim of online scams by joining fraud broker. We have tie up with the most reputed and highly regulated forex companies and stock companies. We are an Introductory Broker of reputed online commodity & currency trading group, provides you some answers and points which you should always keep in your mind before selecting your broker.
Q: Forex market and stock market scams: What exactly is this?
A: The definition of forex market and stock market is very wide. According to Wikipedia, forex or stock scam is a trading scheme used by many fraud brokers through which they try to convince their clients to invest maximum money in market in order to get attractive profit. It will be considered as scam if broker fails to fulfil his commitment and promises with his clients. Many brokers even fail to return money to its clients. There are many other ways of scams also like execution of transactions, problems while withdrawing money, lack of transparency and many more.
Q: What should I search in my broker?
A: Here are the few points which you should always keep in your mind while selecting your broker
Promises of high returns from market Promises of high returns from electronic market is the biggest sign of scam in this industry. EFD Group will keep you reminding about investors risk in electronic trading.
Regulation & License You should always ask about trading license and its regulation in your area. If your broker is not regulated, then you might be in trouble . EFD Group is an Introductory Broker of reputed online commodity & currency trading group, which is regulated by many countries across the globe including UAE, UK, Europe, Japan, Canada etc.
Training & Education If you are a new trader, then it will be compulsory for you to get training program under us. Your broker's education and experience also matters a lot here. What information and tools are useful to make you understand the electronic market? For example, is there any tutorial guide? What is technical studies and how does fundamentals affect this market? There are many things which you should understand before start trading.
Transparency Transparency is must between broker and clients. Does your broker disclose all relevant taxes and charges before starting your account? What is the spread between different pairs and are they fixed or variable? Many brokers will widen their spreads at the time of extreme volatility in market. EFD Group guarantees you on the behalf of our parent companies for fixed spreads, whether market is calm or in volatile state.
Flexibility Relationship between broker and client should be very flexible and broker should be easily approachable for clients. Is your broker ready to start your account with small deposit and with low leverage? Reputed broker will also provide you personal Account Service Manager who will guide every steps regarding the trading. After few weeks of experience, you can get personal dealer who will support your trading to maximise your profits.
Security of your transactions Most of the electronic market transactions will be carried out through Internet. So you should always join only that broker which have strong online payment security gateway. Broker's website should be secured by SSL and always clarify your doubts regarding credit card clearings. Every broker will provide you online services but you should always enquire about its office and branches all over the world. It will be good for you if you organise one to one meeting with an executive of your broker.
Social media approach Social media is on a boom these days and if your broker participate in social media channels like Linked In, Facebook, Twitter etc, then it will be easy for you to find its genuinity.
Take the first step towards the Business Partnership with EFD Group. We have a huge network of business partners serving more than 120 locations.
Our partnership program offers unique & resourceful pathway for both private & corporate clients. We work closely with our Business Partners
to reach all class of clients & to deliver the best possible consulting solution, whether they come directly from EFD or from an EFD Business Partner.
Join us As Business Partner