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Although the market is starting to get more regulated each day and many old scams have already been exposed, the market is still not completely safe as new scams keep showing up; some of them even use brand new methods to deceive traders.

Usually, the victims are beginners who are not fully prepared and can't identify the right broker to choose from. Of course, scam acts are not limited to beginners because even a professional trader can get caught in similar cases if they're not careful. That is why, it is wise to keep yourself fully informed about the broker you choose and avoid the ones that don't meet the safety requirements.

There are at least three skills that you need to have to avoid scams. First, you must be able to identify a regulated broker authorized by a trusted regulator. It is essential to check this aspect at the start because if the broker's not regulated to begin with, then there is a higher chance of low-quality services that lead to financial loss. Second, you should be realistic while scanning through any broker's promotions and bonuses.

Scammers tend to over-promising by offering unrealistic deals to get more clients. Lastly, you need to understand how forex broker scams usually cheat on their clients. You will get to know their characteristics and, therefore, avoid them as best as you can. If you want an easier way to spot a scam, you can check some examples from the list below: 1.

They claimed that they had developed robust connections with various inter banks and, therefore, could provide the best competitive rates for their clients. The website was regularly updated with unique, daily, and weekly market commentaries and up-to-date economic calendar releases. Many traders were complaining about not being able to withdraw their funds and some other financial issues.

SkyFX SkyFX was first established in and has gained quite a handful of worldwide traders since then. At a glance, the broker seems safe and well-regulated. However, it was later found out that the broker got into trouble with IBs and their affiliates because of multiple changes in URL and affiliation code that happened without any logical reason. The issue didn't stop there.

Not only that, many articles from the Israeli press wrote that the owner of the company, Aviv Talmor, was involved in illegal actions and was under investigation for operating a Ponzi scheme. Shortly after, the broker ceased their operations completely and took down their website. Forex-Metal Forex-Metal is a Bulgarian-based broker founded in Initially, Forex-Metal seemed like a fine choice for traders because it offered some benefits and favorable trading conditions.

However, in , traders began to experience withdrawal failures. As you may already know, withdrawal failure is one of the earliest signs of scams, in which some of them end up taking their clients' funds and disappear into thin air. Not only withdrawal failures, Forex-Metal's clients also experienced downturns in the trading platforms and website. I just know that reputation is everything.

Banal thing, but it works. With FxPro I have no fears that my account may be scammed. FxPro regulations. Regulation is everything, as only regulated brokerage is trully reliable. FxPro is fully regulated, by the way. There are 3 different entities regulated by each regulator.

Entity you wiuld be trading with depends on your citizenship or location. List of assets. Trading platforms. Withdrawals policy. You can use Wire Transfer or Pay with your creadit card. Orders execution. Slippages happen sometimes, but quite rare. However, I will write my review, hope it would be usefull for someone.

It offers 3 trading platforms: MT4, Mt5 and cTrader. Metatrader is much better in all other regards, so better choose it, as I did. But I understand that this is not the most promising approach, so I try to fight it with all the methods available to me.

But I still have a lot of work ahead of me. But I am ready for it. As for my work here, I can say that this company does not cause me any problems. I work with capital that is convenient for me. I mainly use technical analysis. Moreover, MT4 includes many indicators and specific settings to look at the situation from different angles. I like scalping trading strategy so the most important thing, that fxpro can offer me tight spreads and instant execution.

Loving the experience here. FxPro is trustworthy company. They offer great trading platforms and software. Maybe not the best, but they do their job quite professionally and honestly. I am satisfied with the cooperation and do not plan to change the broker.

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Traders can choose platforms according to their needs. Fans of MT4 is provided with instant execution and easy-to-use trading platform. In this account, leverage is up to and spreads start from 1. If traders want to get experience with more modern technology, traders should choose FxPro MT5 Accounts. In this account, spreads start from 1. Another type of accounts is FxPro cTrader.

It is suitable for traders who give priority to the speed of execution with the most restrictive spreads compared to other account types'. FxPro cTrader is a powerful trading platform offering the best available bid and ask prices, with orders filled in just milliseconds. The platform also provides Market Depth and trading analysis tools.

In this account, spreads start only from 0. The MT4 platform gives traders a chance to open positions on all of the 6 asset classes, whereas the MT5 doesn't support shares, and cTrader doesn't support shares and futures. This platform offers clients a new way to trade the markets in the form of spreads betting. Each broker has pros and cons, and FxPro is not an exception.

Aside from the advantages as explained before, FxPro has a high minimum deposit. Also, there are not many types of payment and withdrawal methods available at FxPro. Some types of methods even require traders to pay fees. However, it is still important to note that clients can trade forex, shares, indices, metals, and energies, with limited risk account at no additional cost in Fxpro Regardless of the advantages and disadvantages, FxPro can be traders' choice as one of the best brokers with sophisticated technology.

A good broker constitutes a good service for traders in terms of many criteria including trading instruments, deposits and withdrawals, as well as customer support. What is good for a certain trader does not necessarily mean the same thing to you. So the term "a good broker" can vary in meaning.

You can decide for yourself if FxPro is a good broker for you or not by reviewing the criteria. What is the minimum deposit for FxPro? Ultimately, our rigorous data validation process yields an error rate of less than. Learn more about how we test. Forex Risk Disclaimer There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks.