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Trading platforms and brokers have become an amazing tool for the small and independent investor.
the supply has overcome the demand and when a new investor comes in this filed he must make sure he is joining a legitimate investment broker
Throughout the years of excellent service given by Winchargeback, out team advises to check the following before activating a trading account with funds:
1) Does the trading broker have regulation?
Global financial authorities have come to learn that there is a true need for regulation to keep the investors funds safe.
When looking for a broker to trade with the investor should look for a platform that is regulated by the investor country, for example: if the investor is from the UK he should look for a broker regulated by the FCA.
The list of financial authorities by country are easily found in Google.
2) Does your account manager/ broker have a trading license?
Do not feel ashamed or embarrassed to ask you r account manager what his education and if he have a trading license.
More than that, don’t take the information for granted, if something sound or feel fishy- take the time to thoroughly understand.
3) What is the withdrawal policy?
Withdrawing should NEVER be an issue.
Before activating a trading account with funds, you should always make sure you understand the withdrawal policy of the broker, at the end of the day it’s YOUR money and the broker should act as an agent that allows you to access the market.
4) How is the company making their cut?
A very legitimate question that not so many tend to ask.
A legitimate brokerage would deliver the service fees in the “terms and conditions” or at the time of activating the account with funds.
This is very important information that should help you decide what broker services you prefer.
If the company disclose that they are making their cute through the investment bank by winning trades- this should be a red flag.
No bank will pay for the broker movement or success in the financial market.
There are many ways to make money online using the financial market, and it is the costumer responsibility to make sure his money is safe, just like with any investment; risk should be a calculated factor.
No matter the state of the trading account and the history of the trading- never ever try to cover loses with funds you can’t afford.
Make sure your broker and you are working with a plan and that plan is following through.
If you think you have been scammed by online trading platform, contact us today!