Get to Know 'Scam' Forex Brokers - Kakiforex | Forex markets for the smart money. Get to Know 'Scam' Forex Brokers Get to Know 'Scam' Forex Brokers

March 23, 2021

Get to Know 'Scam' Forex Brokers

 Recently, many forex brokers have appeared but out of nowhere, offering forex trading activities, but in fact, only a company registered in the virtual tax-free islands, has a virtual office address, but in fact, does not even exist such an office. It means an office somewhere else. Most of these brokers are used to run Get Rich Quick Scheme operations.

This scam broker or scam broker has the following features:

  • There are no license numbers from large regulatory bodies as narrated in the previous chapter.
  • Has a virtual office address.
  • Offering a return on investment which is known as ROI (return on investment), such as 5% -20% per month without having to trade, just relax and shake your legs.
  • Perform Multi-Level Marketing operations.
  • There are pairing systems, right foot, left foot, sort of MLM, and stress that you are looking for people to invest.
  • This brokerage company is only well known in Malaysia, but not in the European region or elsewhere.
  • Have MLM leaders, have sponsorship activities, and find people.
  • Does not have a strong foreign bank.
  • How to deposit or withdraw is managed by a private person, you have to transfer money to the account of the leader or chief.

So what you need to know, you SHOULD AVOID trading in this type of broker if a friend invites you. It will cause your process to become a real forex trader through difficult paths and incorrect ways.

The above knowledge is the general knowledge you need to know. There is no way to generate income through forex trading without us trading ourselves.

We need to learn one by one, the science of technical and fundamental analysis to start generating income from forex trading and trade itself.

There is no term for investing money and sitting still shaking your legs or sitting still to make money. That's just nonsense.

Continue studying the next chapter.