Investing financial resources is a very simple process, but quite exciting. That is why its implementation should not happen suddenly. Before you fully establish yourself in your decision, you need to weigh all the pros and cons of cooperation with a particular company, carefully review not only positive reviews, but also the presence of negative ones. Usually, this approach can tell about many real things.
In order not to fall for the bait of scammers, it is worth analyzing several organizations at once. It should be noted right away that it is best to do business with large financial firms that have been consistently holding their bar for 5-10 years (rating of reliable binary options brokers here). Not the last sign of a decent company is the presence of a reputable license.
Confirmation of honest work can serve as a futures commission CFTC, National Futures Association, Swiss Financial Markets Authority and others. There is no point in paying attention to such licenses as NAFD and KROUFR. They are issued to every broker with a fund of $20,000 or more, and therefore do not regulate anything. The best option would be to increase attention to domestic financial platforms. At the same time, the company should not refuse to provide its client with a physical address for possible appeals.
Top 10 signs of fraud
There are no guarantees that the chosen broker with an absolute guarantee will turn out to be an honest player. With the help of reviews with pros and cons left on the Internet about a particular company, you can determine the arithmetic mean, which is, in fact, a real picture of its work. In particular, you should pay great attention to the main signs of fraud, which should be analyzed on the example of the most popular scammers for 2018: TRADEFOREX 24 and TRADE-FXS.COM:
- Firstly, the most striking thing is the aggressive advertising of the analyzed sites on the Internet, which literally forces you to go to the above sites and invest money at almost a million percent.
- The second factor focuses on the lack of a legal address of the company. If TRADEFOREX 24 provides such (albeit non-existent) information on its service, then TRADE-FXS.COM hides any contacts from the world.
- The third is the lack of a license that we have already agreed upon. None of the objects of analysis flaunts their licenses, which can only mean one thing – their complete absence.
- Fourthly, the percentage of income is too high (based on the latest promises – 80-100% or more per annum), and TRADEFOREX 24 just tells all traders about the exceptional profitability of the work.
- Fifth, failure to verify for inexplicable reasons should be alarming. Most of the negative reviews about the two offices highlight this reason as the strangest, but stable.
- The sixth point hides one of the most significant problems – the inability to withdraw funds or prolonged delays. TRADE-FXS.COM and TRADEFOREX 24 for some reason consider any attempts to withdraw their income to be a betrayal. After the negativity poured out on the client, the company’s employees threaten to put all available virtual income at great risk, where the money begins to go away at an incredible speed.
- Emphasis on low risks for investors, which raises doubts at the very beginning of work. This is due to the fact that working with trading platforms implies risk in the first place.
- Lack of responsibility from the support service or the banal failure of employees to fulfill their direct duties. It seems as if the work takes place according to a pre-established scheme, where before the first attempts to withdraw finances, the employees of both companies under study (which, in fact, have the same founder) are very kind and attentive, and after that they completely ignore any attempts to communicate.
- Systematic problems with the terminal: viruses, reboots, shutdowns. Traders who decided to work with TRADE-FXS.COM or TRADEFOREX 24 also managed to face all this. According to numerous complaints, it becomes clear that the problem remains in place and no one is going to solve it.
- Promises of unlimited income for everyone, which can not but rejoice, and, at the same time, can not but alarm. Here, every novice investor will be able to think about the paradox – where can all the profits come from if no one loses, and all transactions end in an exceptionally successful outcome ?!
Each of these signs of fraud has been encountered by many ordinary people. On the example of the story of only one of them, one can understand the tragedy and absurdity of the situation.
A typical example of a fraudulent broker
Like everyone else, one of the heroes of the story fell for the bait of bright advertising and an attractive word from the manager. A pleasant site https://www.bibsystem.info/ promised mountains of gold from training, free signals and personal analysts that even inexperienced traders can make the Great Gatsby. The guy opened deals on the trading floor https://www.noverk.com/ from May to September 2018, more precisely, it could not even be called the opening of transactions. All operations were carried out by a robot connected to the account.
The system had round-the-clock access to his personal account and the drain of all the money was just around the corner (and far from gold). In order to somehow insure himself against losses, the hero of the situation paid 25 thousand US dollars. At first, the transactions brought a good income, but this happened until the young man decided to withdraw a certain amount of money. At this point, the balance was abruptly merged by the very robot that the personal analyst “advised” to install.
This happened on September 13, 2018. Immediately after the withdrawal request, artificial intelligence conducted 23 failed trades. Having received the details of payments, the hero of the story found out that all funds went to offshore accounts of the infamous TRADE-FXS.COM and TRADEFOREX 24. He already knew about these scam companies and was not surprised by the situation.
Knowing from Internet resources how to deal with this type of scammers, the hero of the story immediately made an attempt to reach out to their conscience (is it possible to return the money from the broker?). He repeatedly sent letters through the “Contact Us” box and tried to call the hotline. The feedback form did not yield any results.
How not to fall into the clutches of a scammer?
A month later, the client tried to terminate the contract with the company by sending several more letters to the same address on a topical topic for him. There was no response, just like the first time: emails were ignored, the phone did not work, the site was systematically unavailable (not to mention the internal chat). The problem hung in the air, taught the failed trader not to trust brokerage houses and (or) it is better to look for information about them in the future (chargeback instructions on the eto-ravod.ru). The only reminder to the client of his past savings was a letter from mail.ru agents informing him that the email was invalid.
It is also worth mentioning the fact that such “big fish” in the financial sector as TRADEFOREX 24 and TRADE-FXS.COM have a wide range of subsidiaries and entire financial complexes. Such enslavement of the entire market still gives them the opportunity to breed an honest population in its attempts to earn money in a non-standard way. If the characteristics of the company chosen by the client correlate with the above ten points, you should definitely think about real decency and the true state of affairs.
A detailed study of the client agreement, notifications of the risk program, as well as the text of the contract and confirmed licenses can help a lot when opening an account. In the age of high technology, it is not difficult to make such documents, so do not hesitate to once again check TRADEFOREX 24 and TRADE-FXS.COM on the list of registered brokers.
Here it will certainly be possible to give an absolute guarantee, but it will no longer consist in the quality of the work of these offices, but in their illegal existence. In addition, any broker who respects himself and his investors will be happy to take a step towards the client and tell you about all the risks and pitfalls that arise. And this cannot be compared with those solemn songs that are sung about themselves by the fraudulent desks of TRADEFOREX 24 and TRADE-FXS.COM.
