Several Forex scam websites are targeting anyone who is interested in finance or money. This includes people who are unfamiliar with Forex trading. These websites lack customer support and payment options, and do not have a fraud regulator in place.
Having no payment options
Having no payment options is a sign of a forex scam. The scam will collect your money, but you aren’t going to get it back. The only way to make sure you don’t end up getting duped is to make sure you’re using a legitimate forex broker.
Scams can be hard to detect, but there are some signs to look for. One way to tell if the site is legitimate is to look for a company that is registered with a regulatory agency. The FCA register contains the contact details of authorised forex brokers. Another way to tell if you’re dealing with a scam is if they’re saying something that’s not true. Some scams will even use a fake phone number or a fake website. If the site looks like it’s been constructed on the fly, it may be a scam.
Other signs to look for are if the site is fake or if the site was constructed on a bootleg. Finally, if the site was constructed on an older server or by using a dated operating system, you might be dealing with a scam.
Failing to have a fraud regulator
Whether you are a newbie to the Forex market or a veteran, working with a regulated Forex broker is one of the key rules you should follow. A regulated Forex broker guarantees that you are working with an honest broker who fulfills your payment obligations and places orders on the interbank market. This can save hundreds of people in the market from losing their deposits.
The best way to find out if a Forex broker is regulated is by checking the registration number of the regulator. Many trading associations also offer blacklists of Forex brokers. These blacklists help traders avoid making mistakes. You can also check the SSL-certificate of the website. If the site is not secure, the broker is not likely a legitimate one.
If you are still unsure, you can contact your local law enforcement agency. You can also leave a report on online forums. This is a great way to let other people know about your experience.