How To Know A Scam In Forex

People can use foreign exchange to earn additional income, with the help of quotex login some even use it for living or what is known as trading for a living. But unfortunately, many irresponsible parties use forex trading to commit fraud, with the lure of big and definite money (fixed income). Several cases of fraud in the name of forex trading have gone viral lately. Forex trading can indeed generate large profits, but the risks are also comparable to the high-risk high return. If anyone offers forex trading that can generate a fixed income, you can be sure it is a scam!

For information, all activities in futures trading, including forex trading, are regulated by law. In forex trading, there are several stakeholders, namely futures traders, futures brokers, representatives of futures brokers, commercial banks that hold compensation and guarantee fund margins, as well as customers. As previously mentioned, all activities in futures trading, including forex trading, are regulated by law. To be able to trade forex correctly, this is the simple flow.

To become a client, you must sooner enlist with a futures brokerage firm via a futures broker agent. There are many legal brokerage firms registered. If you want to trade forex, you should transact at a local broker that is regulated by the government. This is important to avoid cases of fraud that can lead to the loss of our invested capital, such as the case of Sutton Capital (SuntonFX) in October 2021. Sutton Capital is said to be luring a fairly large profit, in the range of 5% to 20%. Unfortunately, instead of getting jumbo cash, the customers’ capital was taken away, allegedly worth billions.

Second, after being registered, the customer deposits a certain amount of funds as agreed capital into the company account. The funds are stored in separate accounts or known as segregated accounts, which can only be used for customer transactions so that the security of the funds stored can be guaranteed.

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