How to check if a forex broker is safe?
FxGecko reminds you that you should "ask, check and confirm" before registering and depositing with a forex/crypto trading platform.Don't blindly believe their claims that they are legally regulated, that they work with a big company, that they are part of a group, etc.
Taking a few minutes to check the broker's qualification information on FxGecko APP, or posting directly on FxGecko asking about the broker, can help you avoid some potential scams.
When viewing forex trading platform information on the FxGecko APP, you need to focus on 5 pieces of data.
1. Rating: If the broker's rating is low, indicating "high risk", please stay alert.
2. Regulatory information: If the regulatory status of the company is not "under supervision", please avoid it.
3. Company overview: Check whether the company's name and contact information are complete and whether the business status is normal, otherwise please stay alert.
4. Related companies: If the company is associated with companies that have run away, ceased operation, delayed withdrawal, false marketing, abnormal operation, etc., please stay alert.
5. Complaints: If the company has been complained by customers that they cannot withdraw their funds and the complaint has not been answered and resolved, please stay alert.
In short, if a platform looks like a scam or even seems risky, don't even give them your money.
If you want to choose from legitimate brokers, you can refer to the top 50 forex brokers on FxGecko APP.
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【Tips】: When you can't find the broker you want to check in FxGecko APP, you can provide the name, website and other information of the broker you want to check by submitting a complaint, and FxGecko staff will add a review of the broker based on the information you provide.
If you already trade with a broker, what do you need to do?
1. Save all emails and attachments they send.2. Download a copy of their terms and conditions.
3. Keep a regular history of all your trades; preferably once a week and before each withdrawal request.
4. If it is a multinational company, make sure you know which branch you are sending money to before you do so.
5. If you have a dispute with a broker or have encountered a scam broker and need help from FxGecko, you can file a complaint on the FxGecko APP and share details about what happened. Remember to provide...
- A. Their company name/website.
- B. Your country/region.
- C.Your account number.
- D. The amount they owe you.
- E. The email response of their refusal of your withdrawal request.
- F. What conditions must be met in order to make a withdrawal.
If you have any problems submitting a complaint, you can contact FxGecko's customer service via Telegram. (+852 9562 7576, +86 132 5508 1716)
Generally speaking, legitimate brokers that are still in operation, after receiving the complaint information sent by FxGecko, will generally actively deal with the related complaint issues in order to maintain their clients' reputation and better their business activities.
If a broker that is still in business is slow to address customer complaints, FxGecko will expose their behavior and warn others to stay away from the broker.
If the broker you are complaining about is a scam broker and has run away with the money (the website is not accessible or does not respond to any of your messages), FxGecko recommends that you gather evidence and seek help from the local police as soon as possible. FxGecko will continue to expose these scams and tell you where you can report them.
Warning: When filing a complaint on FxGecko, please do not disclose any of your private information, especially your contact information. Since "recovery scammers" often check the FxGecko community in the hope of finding new victims. They will try to provide you with their contact information or ask for your contact information through comments, private messages, etc., to lure you back into another scam with the promise of getting your money back.
The way to download the FxGecko APP.
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In addition to checking broker information and filing complaints, you can also view real-time market data, information and financial calendars on the FxGecko APP to keep abreast of market developments.
(All functional services provided by FxGecko to its users are free of charge.)
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You can click here to see how a forex scam works and what to do if you are scammed.
FxGecko reminds you that you should always be cautious when you come across investment opportunities that promise high returns with little or no risk. These are likely scams.
Welcome to join FxGeckoAPP community, which is regularly updated with information on the Forex market and trading brokers, as well as issues of investor complaints against brokers. Keeping a regular eye here will help you improve your market acumen and avoid common investment scams.
