Don't Get Scammed

If you already trade the Forex market, this isn't new to you. Although, if you are a beginner, please bernaware that this is a common thing in Forex.
For trading in any financial market you need a broker. As the Forex market isn't regulated, you havernto make a better due diligence to find a good broker than in any other financial market that isrnregulated like stocks, futures or options.
I have encountered several things that you should avoid in a broker. All the criteria I'm going to referrnhave to be accomplished in order for you to have safety of funds.
In the first place, you should avoid forex brokers that are based offshore, in third world countries orrnbrokers that don't even state where they are based. I'm telling you this because of the safety of yourrnfunds. As there are many forex broker scams, you need to pay special attention to this factor. If yourrnpresent broker or the broker you are thinking of opening an account with has this characteristic, myrnadvice is to look somewhere else.
In the second place, the forex broker you choose can't trade against you. This may seem new to yournbut there are a lot of forex brokers out there that are doing this. Of course, as they are stronger thanrnyou, a simple trader, they will always win and you will always lose. Please be aware of this situation.
In the third place, you should read reviews about your broker or the broker you are thinking of using.
It is always important to read what other traders think about them, their executions, their spreads andrneven their customer support. You should read their webpage but nothing is better that asking orrnreading about them from someone that is already using their services.
Finally, don't let the money and greed talk too loud. If a forex broker allows you to trade with justrn$100, it's because they allow you to have a big leverage. Using big leverage is not a good idearnbecause, if you have a small account, you can get ripped off with just a loss. Of course, you can usernthis leverage in your favor if it is a small percentage of your money. But if you're trading with justrn$100, there's no space for leveraging without incurring in a very high risk of losing your entirernaccount in a single trade.
Don't get discouraged by the fact that there are so many forex broker scams. There are also good andrnsolid forex brokers. You just have to do a deeper search in order to find one that fits your needs andrnyour security.

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