Learn how to trade:
Share this
The Forex market is the most liquid market in the world. So much money is traded, to a tune of five trillion US Dollars daily.
With minimal regulation of this huge market, new traders can be targeted by scammers. Especially traders thirsty to become professionals.
And it happens all the time.
Calculate your binary options profits here
Trade History
So the BIG question that this post seeks to answer today is, can you become a professional trader without getting scammed?
The answer is definitely yes.
And here’s how to go around Forex scammers.
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
-
Choose Your Broker Wisely.
There are real, genuine brokers on the internet.
Still, there are fake brokers who aim at making money fraudulently from the unsuspecting trader.
But as a dummy trader, how can you tell if a broker is genuine or not?
Do your due diligence and find out what goes on behind the scenes of any broker before you open an account.
Compare brokers here:
Here is a checklist to compare fake against genuine brokers:
- Slippage – a genuine broker has no business manipulating the price of an asset to the disadvantage of the trader.
It happens that a trader executes a trade at a certain level, but the broker executes the deal at a price higher or lower than the actual market value.
If that ever happens to you with any broker, then you need to rethink your loyalty because it might be another scam.
- Liquidity – a broker may not have enough capital to cover the trades placed by all its traders.
Think of it and you will realize that such a broker is only brewing an atmosphere for the trader to lose money.
The broker is almost running bankrupt and investing with such a broker is getting yourself in trouble.
- Churning – because a broker gets a commission every time a trader places a trade, the broker can unnecessarily initiate unwanted trades without authorization of the trader to make more commissions.
Beware because this is a quick way to lose money. Especially to such are unplanned trades. Notice such mishaps on the broker platform you are currently using, close that account, and run for your life.
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
- Withdrawal – did you just try withdrawing money from your trading account and it’s been two months and the broker hasn’t sent you any money?
If you cannot access your money every other time, then you don’t know what is happening behind the scenes.
A genuine broker should give you access to your money all the time. Anytime.
-
Avoid Expert Advisor Scammers.
Expert Advisors or trading robots are software that can execute trades on behalf of humans.
They are fast and more accurate than humans, generating more profits than human traders.
But wait, who is selling you the bot?
Yes, they have shown you the robot executing trades, very quickly and accurately.
Sometimes, so many profitable trades within a short time.
But how much profit is the bot generating per trade?
You might be shocked that the robot is generating tiny profits per trade.
Then there is the issue of inefficiencies which may lead to your account getting wiped in minutes.
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
Before investing your money in these robots, try to answer this question.
Has the seller subjected the robot to independent testing?
If they haven’t, then how sure are you that they don’t just want to get those bucks from you then leave you to handle the menace of a bot?
Don’t fall so easy for robot deals.
You must ensure that the bot is efficient enough, tested by independent parties, and certified to be genuine.
-
Choose Signal Sellers Wisely.
Signal sellers, who might be other retail traders, offer advice on how and when to execute trades.
This is a common area for scams.
That hyped signal provider of yours who claims to have transformed many people into millionaires might be the next scammer.
Not all these people who claim to provide 100% accurate signals actually provide genuine ones.
So that daily or weekly contribution might be their only motivation, after which they may vanish into thin air.
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
Ironically, some signal sellers will ask for a lump sum or a one-time subscription, after which you will never hear from them again.
Why don’t you just develop your own trading strategy?
This will generate trading signals which you understand, other than seeking to adopt signals you don’t understand.
However, if you must get a signal provider, ensure they are genuine.
Research a lot about them, to ensure you are not walking into a scam.
-
Avoid Fishy Account Management Deals.
I know you are looking for someone to trade for you and that may cost you all the money you invest.
An ad will come up enticing you that a company offers Forex account management by ‘highly skilled’ traders.
You will then go ahead to deposit money with them.
That might be a huge mistake you make in your trading career.
Sorry to say but if this is a scam, you may be in the initial stages of bidding your money goodbye.
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
You may lose your invested profits together with all the promised interest.
If you must get an account manager, ensure you trust them.
The best thing you can do is actually trade for yourself.
The desperation that comes with looking for someone to trade for you is destructive.
-
Avoid High-Yield Investment Programs (HYIP).
Have you come across a firm saying that you only need to invest a small amount of money with them and earn huge returns daily?
Most actually claim to invest such money in Forex trading, yet they only operate like a Ponzi scheme, paying initial investors with current investors’ money.
Be wary of any program which promises you unreasonably huge returns citing Forex trading.
They actually do no Forex trading and eventually, the firm collapses as management walks away with investors’ money.
-
Beware of Copy or Social Trading.
Brokers strike deals with experienced traders, who are meant to be copied by new traders.
Copy-trading actually sounds like a solution to the struggle which comes with learning how to trade.
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
The broker will earn commissions when new traders place trades.
The copied trader will also earn commissions for every copied deal of theirs.
The experienced trader may actually not care whether you lose or gain, as long as they earn the commission.
They may enter trades carelessly, misleading new traders who copy them.
If you are that new trader, you will lose money.
If you are not careful, you will end up blowing your account.
Conclusion.
To become a successful professional trader in Forex, put in the time. Learn how to trade and trust only you.
Share this
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
Recent Posts
You Will Become Rich Quickly if You Live in One of These 6 Countries.
Where in the world is it easiest to become rich? While so many people think that to become rich you’ve got to live, work, and do business in Iceland, Sweden, ….
You Can Make $274 if you Invest $100 Ten Times With a Winning Rate of 70%
Quite so often we receive WhatsApp texts or even telegram messages of traders asking, “how much will I make if I invest $100 in Olymp Trade?” While it is easy ….
XM Seminars for 2020 | Register a Real Trading Account to Book Seat
XM Global Ltd operating under the business trading name XM is a securities service provider licensee regulated and authorized by the International Financial service commission (IFSC) in Belize under the ….
XM MT4 | How to Make Money Trading Forex on Your Smartphone
Did you just register for a Forex trading account – which by the way, you hope to use to make so much money online but are still stuck wondering what ….
XM Global vs Olymp Trade | Which Broker to Join?
XM Global vs Olymp Trade, which broker should you sign up for? The real question should be, between Forex trading and Fixed Time Trading, what’s best for a beginner? Tell ….
XM Global No Deposit Bonus Forex! XM Forex $30 Bonus
COLWMA (City of London Wealth Management Awards) winner of Best FX Service Provider 2023, XM Forex is one of the best Forex brokers with a no deposit bonus globally. The ….
XM Forex: How Does Forex Trading Work?
To understand how Forex trading works, we must first understand what Forex is. And what is Forex you ask? Forex, also known as foreign exchange or FX, is the global ….
XM Forex Bonus $30 – How to Start Forex Trading Without Money
One of the reasons why most new traders fail to go past the demo account is the fear of losing money trading on a real account. But what if I ….
XM Forex 10th Anniversary Promo | Up to $1,000,000 to be Won in Prizes
Hey there,Do you want to raise so much money so fast for Christmas? How much do you wish to raise?Ksh. 50,000, €1,000, ₽2,000, ₹4,000,… or $10,000?Well, if your budget falls ….
XM Broker: Why is Forex Trading Popular?
There are so many reasons why people trade Forex. Some of these reasons also double up as the advantages or benefits of Forex trading. And what are these benefits you ….
Broker Comparison
Top 5 Binary Options Brokers With $10,000 Demo Account
Binary options trading is fast becoming popular in the world and with this popularity the urge and to find the best broker to trade with. But when we talk of ….
Tips to Becoming a Forex Millionaire in Kenya
Most people in Kenya have turned to forex trading to earn an extra coin. To start trading forex though, you need to have an account that will hold your money ….
SabioTrade: Get Funded and Withdraw up to 80% Profits
Are you looking for a way to trade Forex with a funded account and withdraw up to 80% of your profits? If so, you might be interested in SabioTrade, a ….
Quotex vs Olymp Trade. Which Broker to Sign up With?
Quotex vs Olymp Trade which broker should you sign up with? This is a common question that we get all the time, especially from newbie traders who want to sign ….
Quotex Broker Regulation Vs Olymp Trade Regulation
Quotex Broker is a binary options broker that offers access to its trading platform globally to traders who’d like to make money trading in shorter time frames. Just like Quotex, ….
Nigeria Forex Millionaires And Their Forex Strategies
Forex trading has spread to several parts of the world and is legal in Nigeria, and Africa. However, it operates within a gray area. Subsequently, the Central Bank of Nigeria ….
Is Qx Broker Among The Best Binary Options Brokers
Binary trading is one of the easiest and safest ways to trade online. It is also the fastest-growing form of investing. Binary trading is one of the easiest ways to ….
IQCent Broker Review With User Opinion, Legit or Scam?
Do you want to start trading with IQcent and don’t know if to trust them or not? Welcome to our comprehensive review of IQCent, the online trading platform that has ….
IQ Mining Review Plus Users Opinion. Legit or Scam?
IQ Mining is a dual-purpose platform, serving as both a cloud mining hub for cryptocurrencies and a broker for Forex and binary options trading. Its efficient utilization of smart contracts ….
Forex Millionaires in South Africa and How they Make Money
Last week, we started a new series of listicles on this blog. Our objective? To explore, discuss, and reveal the faces of forex millionaires in the countries where forex is ….
Business Ideas
What is the Best Business to Start in Kenya?
Kenya is a great place to start a business. The best type of business may be different for you, depending on your skill set and what you are looking for ….
What Business Ideas Make The Most Money
Are you an aspiring business entrepreneur? Check out our list of the most popular business ideas in 2024. People venture into the business world for different reasons. Some because they ….
What Business Can I Start With 2k In Kenya In 2024?
Kenya is a great place to start a business. The economy is growing, the population is young and there is a lot of opportunity for entrepreneurs. However, starting a business ….
Top Business Ideas that Will Make 375 SAR Daily in Saudi Arabia in 2024.
It is common knowledge that Saudi Arabia is the world’s greatest oil producer. Around 25% of the world’s petroleum reserves are processed in the country. According to statistics, Saudi Arabia’s ….
Top 50 Online Shopping Sites in India.
You must have found yourself ordering a thing or two from an online store and they delivered to your preferred address, right? Now that is the new fashion of doing ….
Top 50 Most Profitable Businesses in Kenya
Ain’t it not easy to say I want to start a business in 2024? Of course not. You have to do your due diligence: come up with a business idea, ….
Top 50 business ideas for All Ages {Online and Offline Ideas}
Many people desire to venture into entrepreneurship for different reasons. For sure, being your own boss, working from your home, garage, or office, offers total control and satisfaction. You can ….
Top 5 Instagram Businesses to Start
Instagram is an amazing photo and video sharing app that we use to connect to friends and family online. Interestingly, Instagram is as much a great place to start your ….
Top 30 Best Businesses to Start in Eldoret Town
Would you like to start a small business in Eldoret town? Which business do you have in mind? Do you have data to back up its profitability and to maybe ….
Top 20 Small Businesses For University Students In Kenya
Are you a university student in Kenya and looking for small business ideas to start? You are in the right place. In this article, I will show you the #20 ….
Make Money
Works at Home: 30 Ways to Make Money Fast (Online And Offline)
No matter what your situation is, there’s a side gig for you. Whether it’s to make a little extra cash or help solve an emergency issue, having a backup plan ….
Will Shiba Inu Coin Keep Making Investors Rich in 2024?
The Shiba Inu Coin has been one of the most popular crypto success stories since 2018. This meme-based cryptocurrency moved to its highest in just a few years making it ….
Which TikTok Star Will Have the Most Followers in 2024?
TikTok is a social media app that has taken the world by storm. It is a platform where users can share short videos of themselves. The app has been downloaded ….
Which Freelancing Site Should I Visit To Make Money Coding?
Freelancing is the best way to make money because it allows you to work on your own time and set your own schedule. You can take jobs that are local ….
Where to Get FREE NFTs: 11 Easy Ways to Do It
Non-fungible tokens (NFTs) are all the rage right now. These unique digital assets are quickly becoming a staple in the world of blockchain gaming and collectibles. The best part about ….
What’s The Best Business to Start in Kenya in 2024?
There are many businesses that you can start in Kenya in 2024. However, not all of them will be successful. It is important to do your research and find a ….
What No One Says About Olymp Trade! Put Together in a Video.
Could this be you? You opened an Olymp Trade account. Made a deposit. Traded on a live account for the first time. The outcome? You lost your first $10 deposit. ….
What is the Easiest Way to Make Money Online in Kenya in 2024?
There are thousands of ways you can make money in Kenya. Some of them require no skill or experience whatsoever, others? You’d need skill and experience to do with success. ….
What is The Easiest Way to Make $100 Today?
If you’re already making money online, skip this post. If you’re not already making any money online keep reading. Because the methods that I’m about to show you in this ….
What is The Easiest (Non-Scammy) Way to Make Money Online?
Making money online can seem like a daunting task. There are so many scams and get-rich-quick schemes out there that it’s hard to know what is legitimate and what isn’t. ….
Quotex Tutorials
What is Quotex? Quotex Trading Course for Beginners
Quotex is a cutting-edge digital options trading platform known for its user-friendly interface and numerous tradable assets, including OTC pairs, traded 24/7. The Quotex trading platform accommodates traders of all ….
Try This Quotex 1 Minute Strategy for Fixed Time Trades
While binary options trading is easy and only requires traders to choose between two different outcomes, it isn’t always profitable without a strategy. My honest truth, You can lose so ….
Top Traders on Quotex ++ Earnings And Strategies
Quotex, the most popular trading platform in 2024, has seen a surge in popularity in recent years. With more and more people looking to make a quick buck, it’s no ….
Risk Management: Trading Course for Beginning Quotex Traders
Risk management is an important discipline that traders must understand and implement if they want to protect their capital and improve their potential for profits. In other words, without risk ….
Qx Broker: How to Register with Quotex, Quotex.io in 2024
In order to start trading on the Quotex broker platform, either on the demo or live account, you must create an account. If you are doing this for the first ….
Qx Broker : How to Fund Quotex With Instant EFT in SA
Are you a South African trader looking for a reliable and efficient platform to deposit money and start trading with? Look no further than Quotex! With the addition of the ….
Quotex, Qx Broker 80% Weekend Bonus Promo Code
Welcome to the exciting world of trading! If you’re looking for a reliable and user-friendly trading platform, then look no further than Quotex.io. Qx broker is today giving out trading ….
Quotex Withdrawal Problem? Use This Other Method
Are you looking for a reliable and profitable binary options trading platform? Do you want to join thousands of traders who are making money online with Quotex? If yes, then ….
Quotex Weekly Tournament: Up to $10,000 in Prize Money
Every other month, the Quotex trading platform allows its users to participate in trading contests and earn more money. One such contest or tournament is the Quotex weekly tournament with ….
Quotex Trading Course for Beginners: Market analysis
Once you create a demo account in Quotex to start trading, you will notice that the platform has some type of chart. Generally, trading platforms have 4 different chart types ….
XM Tutorials
How XM Trading Works in Kenya
If you went to Google and searched, “how XM trading works” then chances are, you have never traded before, you don’t have a trading account and most importantly, you want ….
How To Trade With XM Forex.
So, you have just created a trading account in XM Forex and completed the account opening process successfully and now you are wondering, what next? How does Xm trading work? ….
How to Trade on XM Even on Weekends
Trading the financial markets via a broker like XM means getting access to real-time pricing of the financial assets when you want to trade. But, as we all know, the ….
How to Open a Trading Account With XM in Kenya.
If you are reading this post then chances are, you are convinced that Xm is the best broker for retail Forex, both locally and globally. And the truth is, XM ….