Have you been a victim of an online trading scam? Is someone you know trying to get their money back from an online scammer? Do you want to start trading but have this constant fear that you might hand over your money to a scammer? If that’s the case, you have to learn about online scams and their signs as soon as possible. This is what you are going to learn as you continue to read.
The best way for you to fight online scammers is by learning about them. Once you are knowledgeable and educated, no one will be able to scam you because you will know their intentions in advance. Here are the three checks that should help you avoid scams altogether.
Knowing Their Names and Websites
There are some people doing some great work in order to promote awareness about online scammers. To do this, they are taking several measures, such as creating lists that you can use to recognize the scammers. On these lists, you will find the names and websites of the companies that are scamming people. Once you know their names, you can keep them with you on an Excel sheet and every time you are ready to sign up with a company, you can look for the name on that list. This should help you avoid them. If you don’t have such a list right now, you can take a look at this forex broker blacklist.
In addition to that, you can also get information about other types of scams. For example, Bitcoin trading robot scams are also quite common these days. If you are going with a company that provides you with a robot for trading Bitcoin, it is best that you investigate it thoroughly before signing up.
Investigating Their Approach
If you pay attention to their approach of convincing you to sign up with them, you will instantly know that they are lying to you. A professional company only tells you what trading is about and how you can become a trader. It does not need the pictures of celebrities, videos of billionaires, and seals of approval on the website to show you that you can trust it. In addition to that, you should look for the guarantees and promises that are going to come your way. They will tell you that you can become a millionaire in no time if you listen to them.
Furthermore, they will tell you that they have created a robot – a trading software to be precise – that can trade on your behalf and make you money. They will claim that this software makes most of its price predictions accurately. That’s where you know they are not telling you the truth. They wouldn’t ask you to trade on their platform if they could win all the money themselves.
Checking Out Registration and Regulation
These two pieces of information are available to you when you land on the website of the broker. If the broker is legitimate, it has to be registered as a business. It shouldn’t just be a website belonging to someone unknown. How do you know the company is registered? Well, you will find this information right on the website. Look at the footer of the website and you will find not only the confirmation that the company is registered, but also the license number.
Furthermore, you have to look for regulation information. It should only be regulation and nothing else. If the company is giving you a million reasons why it does not have regulation, you should just walk away.
Final Thoughts
These three checks should help you filter out any scammers from your list of potential trading platforms. You want to sign up with legitimate companies and grow slowly. It is the dream of making a lot of money in no time that usually makes people sign up with scammers. If someone has already scammed you, make sure you use a money recovery service to get your money back.