It is well known that forex trading is a global business. Traders from all over the world do transactions on forex 24 hours a day every day. As millions of traders engage in making forex transactions a certain percentage of them get caught in scams on daily basis. As such, it is of utmost importance for you to stay away from scammers. Ask for advice from someone who is familiar with forex trading.
Stay away from brokers who will assure you very high profit margins
Some brokers promise huge profits and advice if you sign up with them to trade forex. These brokers are not to be trusted. Any broker who promises to increase your returns than usual is most likely a fraudster.
A friend can help you find a reliable broker. Begin by joining the broker with which he conducts his forex transactions. This will provide you with a guarantee about the authenticity of the broker. It is better to be safe than sorry.
Register a company with the government
Remember that forex brokers are all created by forex brokerage companies. It is best to look for a broker who is registered with the government. This will help you avoid being scammed. Trustworthy brokers attached to certified and government-registered companies can be trusted.