Before starting to trade at the Forex exchange, choose a trustworthy Forex broker. This intermediary helps the beginner to figure out the basic rules of trading, and also provides effective tools and services for conducting trading operations. Today, you can see hundreds of platforms on the Internet that offer brokerage support services. How to find a trustworthy broker so that your investments bring income, not losses? First, you need to understand what a black list of SCAM Forex brokers is.
The blacklisted broker is
Internet provides many opportunities for various types of activities. Some platforms use these chances legally and for the benefit of their customers. Other resources pursue self-serving goals, where the main motive is fraudulent profit – making without providing the promised services. And this can be found in any area of business and social relations. This is also true in the field of online trading.
Among the hundreds of Forex investment platforms, there are also portals that deceive their users. They promise that a person will make a profit on the terms of the certain contract, but in fact, when a person does everything as expected, the service does not provide him with the promised services. Such a platform deceives its users. A black broker is a company that either helps to drain the deposit of its client, or prevents the withdrawal of its profits.
Forex centers included in the black lists of various financial media resources are companies from which it is recommended to stay away, in order to avoid unjustified and significant financial losses. Fortunately, thanks to expert analysis of investment platforms, as well as user reviews, the public sooner or later learns about fraudulent sites that should not be trusted with their time and money. Dishonest Forex brokers in 2021 continue to deceive gullible traders, but the good news is that this trend is no longer progressing, but is on the decline.
How to get that the broker is a scam?
There are several factors that allow you to say with confidence – this is a black broker https://forex-up.com/black-rating/broker/.
Here are them:
- Promise of high returns;
- Promise of no risking at all;
- No control and regulation over the work of the broker;
- Unprofessional behavior of the company’s managers;
- A dubious strategy;
- Fake tools;
- False ratings.
Black pick of Forex companies 2021
The black pick of Forex brokers presented below contains unscrupulous companies that refuse to hold their contractual obligations to customers. Take a look at the list below and you will find out about the platforms, which you should avoid. The blacklisted Forex brokers are:
- Arena FX
- Boston Merchant Financial
Such scam brokers easily cheat customers precisely for the reason that their activities are not controlled by any authorities.
Customer reviews about black brokers
Review: kralkam 08.01.2021
Don’t trust them! They tricked me. Atiora representatives will make sure that you never get your money back. They didn’t give a damn about the law, the commitments they made.
Review: Alen_7 09.12.2020
It is a real fraudster! The 24fx platform encourages people to bet cash, but you will always lose them. You will be tempted to bet more money, for this they use different bonus options. I started with $300 and have been trading for about a month, and then they started sending me reminders to deposit more money. This is what usually happens in a casino. In short, this is a real scam.
Boston Merchant Financial platform
Review: manzar92 05.01.2021
Do not try making money with them! I guarantee, you will lose everything here! It’s been over 24 hours since I sent my money to the balance. The amount was debited from the credit card, but was never came to the trading account. How is this possible?? The customer support team started ignoring my requests. A rather strange combination of circumstances, for sure. They are scammers – definitely.