List of Forex Scam Brokers
Forex scam brokers
Trading in the forex market has its complexities and challenges. One of the difficulties is choosing a proper Forex broker and working with it. In the currency market, there are a number of unprofessional and problematic brokers using subtle and smart ways waiting for achieving traders' capital dishonestly.
What kinds of brokers in PipSafe are known as scam? We, as a forex rebates server, will not cooperate with brokers which are already known as a scam. And also we will stop our cooperation with any brokers which cause problems for traders and we, as a representative, will put them on the blacklist, so traders can stay away from these brokers and avoid trading with them. Therefore, follow our scam broker list.
Forex brokers’ scams, which are on our blacklist, include the following items:
1-Forex brokers which have already recognized as scam
2-Those brokers which PipSafe announce as scam and have a lot of problems
You must avoid these scam brokers and forget them. Otherwise, you will face a real and significant challenge. We suggest using our trusted brokers because we always keep in touch with other brokers and we can understand any problems like decreasing their quality.
The problems that Forex brokers can provide for traders:
- Avoid paying the original clients’ funds
- Avoid supporting well for traders
- Avoid paying the profit and removes them
- Changing the price of currencies and use artificial prices
- Expanding unusual and too much of spread to limit the traders and their failures.
Select a good Forex Broker
Every year a lot of new Forex brokers come to this world, and they add to this forex lists. Choosing a reliable FX broker along with an excellent facility among all those brokers is a little hard, and it needs an ultimate guide.
PipSafe will help you, in this case, to avoid you being in fraud Forex brokers and also help you not to be insignificant problems. Furthermore, PipSafe helps you to select an excellent and reliable broker. We are as a provider of Forex cashback service due to having a close, continuous relation and contacts with other Forex brokers which received their representative. What is more, we will analyze them carefully, and you can have the results and know more about it on our website.
Some important points about the regulation of various forex brokersThere are lots of regulatory and financial institutions around the world, which are monitoring the activities of Forex brokers so that they have transparent and dynamic activities.
The most popular and prominent regulatory agencies on Forex brokers
- National Futures Association (NFA)
- Financial Services Authority (FSA)
- Australian Securities & Investments Commission (ASIC)
- Cyprus Securities and Exchange Commission (CySEC)
- Financial Regulation Agency (FRA)
On the whole, having a valid regulation is essential for Forex brokers who show at least condition for their activities in the global area, but there is no particular reason for trusting any brokers.