These lists are compiled by forex brokers, their clients, and other financial institutions. They are used to identify and blacklist the forex brokers that have been deemed fraudulent if you are looking for a forex broker that is available by us and hire them to know forex information.
Who Are Scammers on The Forex Market?
Forex scam brokers are usually represented directly by brokers. They may be an individual player without a company that focuses mainly on a broker company. They can be experienced users who create false information from their websites. These scam website owners lack any license and thus cannot be properly regulated. Often these individuals do not understand the forex trading world in general. However, for a novice trader whose knowledge of finance and financial markets is unclear, there are many things to consider. For example, one could visit a beautifully designed website, see catchy promises, and much more.
Why are Forex Brokers Regulated?
We have already briefly outlined regulations on forex trading companies. However, this information is detailed in international currency markets that have a legislative basis. The law defines a particular class of regulatory companies. The companies operate under international licenses on the global currency and securities markets. They are responsible for monitoring other markets for compliance with legal standards and financial security requirements. The regulator checks whether the broker operates legally on a forex trading network. If it isn’t, they can easily get scammed.
How can I Identify Forex Trading Scams
There are several ways to identify a scam in forex. It is easy to spot a scam when the seller of the service claims to be able to make you a millionaire overnight. This is a sure sign that he will only take your money and run. Forex trading is an excellent career option for people who wish to earn extra money. It is also a great way to earn extra cash while having fun without getting up early or working late. It is even better if you are a beginner because you will be learning along the way.
You can find many ways to make money from forex, but one of the best is through binary options trading. It is similar to other financial markets, such as stock trading and futures trading, but it has some unique characteristics that make it very popular. This article will discuss the list of forex blacklisted brokers of the year.
List of Forex Blacklisted Brokers of the Year
The information is updated in real-time. This article warns novice traders about scam brokers who should not be trusted.
The reason you need this blacklist is that some Forex bucket shops and pyramid schemes are still operating despite being confirmed scams.
- 24FX – 2014
- 24OPTIONS -2018
- 4XP – 2012
- 770CAPITAL – 2021
- ACFX -2016
- Adamant Finance – 2021
- AGM Markets – 2018
- Alfa Trade -2014
- Atiora – 2018
- AXEForex -2017
- Axes – 2021
- Belarta – 2014
- BFSforex -2012
- Circle Markets -2017
- Boston Merchant Financial – 2017
- DV Markets -2013
- ECMarkets -2017
- Divisa Capital Group – Null
- Evotrade – Null
- FinFx – 201
The further list will be updated soon upon request.