How to protect yourself from Forex broker scams on the stock market? Case study from FinancesLab

Investing and trading in Forex attracts many people. There are many offers on the internet. They look quite attractive because instant profits with almost no risk sound very good. But, there is no need to hurry. It is always better to start with reviews of forex brokers to get a more complete picture of the company's work.

If a reliable service is urgently needed, you can use the services of FinancesLab. This is a proven, European FinancesLab that is not on the broker scam list and has a full set of licenses. The regulator closely monitors its activities and monthly reports are available on the website. Good service, with a simple, understandable interface.

The terms and conditions are transparent and all figures are outlined in the contract. Payments are made only through payment systems. No transactions to personal accounts or cards. Prepayments are also not charged for anything. Transactions are posted directly to the market.

In addition, the broker has made training available. The materials can be used at any time without paying a penny. There are courses, articles, and videos. Everything is online. Face-to-face seminars and training are not available.

Only registered users who have been previously verified will be able to enjoy all the benefits of the service. It is obligatory to confirm the identity. This is an additional precaution and a protection measure against intruders who are trying to get their hands on someone else's money.

FinancesLab legit and works honestly. Payments have been confirmed by audits. There are also a number of reviews showing that there are no debts owed to clients. There has never been any litigation or involvement in financial scandals. There are entries in the registers.

The website is official. All contact and legal information are publicly available on it.

FinancesLab is a good broker and does not hide anything. After registration, each client is contacted by a personal manager who provides detailed information on cooperation conditions, risks, and assets. No one offers to invest in an obscure product or download a third-party application that has nothing to do with the company or Forex. FinancesLab legit and pays, this is proved first and foremost by the feedback of satisfied customers.

What makes broker forex scammer recognize?

Scammers, though quirky, it is quite realistic to recognize them. Here are the signs that give them away:

  • the information on the website is not copied, there is no SSL certificate (digital signature guaranteeing the security and confidentiality of the connection) and the domain name is incomplete;
  • application of dubious strategies. Black brokers use unknown, incomprehensible trading terminals (apart from the usual MT5, MT4). A normal company does not need to create a third-party application, because they can do without it;
  • focus on the profitability of PAMM accounts. They can not be a single source of income, and even more the main tool of the service;
  • lack of documents and regulator. Even if there is some information, it is not in the official registers;
  • unprofessional behaviour. This includes cold calls, imposing anything via messengers, and active pressure;
  • types of payment systems. Scammers mostly work with e-wallets and bank cards. They do not cooperate with banks;
  • the size of the down payment, the withdrawal amount and the availability of prepayments.

Fraudsters, in most cases, offer paid training by selling unworkable courses. Their manuals do not contain any useful information, but they are bought, especially by inexperienced players. Is FinancesLab fraud? No, it is provided free training, the site has a digital signature and the activity is controlled by the regulator.

How to protect yourself?

To avoid becoming a victim of intruders, it is necessary not only to assess the quality of the site, but also to provide real data when registering and verifying. A strong password can also prevent a person's account from being compromised. Here's what else will help:

  • installing antivirus software on computer and phone;
  • setting up two-factor authentication (if possible);
  • setting up codes coming in the form of a message to confirm the output.

Remember that a normal company such as FinancesLab will not send details by mail or on social networks. Everything through payment systems and any financial transactions is carried out through a personal account.

The support service itself does not contact the client, especially through unofficial communication channels. Yes, it is possible to call FinancesLab, but representatives of the company will not disturb, especially from hidden numbers. Also, no one will ask to install an application for remote access. When trading Forex, follow the same rules as when working with online banking, then the money will be safe. FinancesLab is not a scam, this broker is worth dealing with.

Conclusions 

A good, reliable company. The documents are not hidden and payments are made regularly. In general, a convenient service with a well-thought-out interface. Loyal to all, offers bonuses and compensation.

FAQ

  • Question: - It is necessary to install an additional application for remote access from devices?
  • Answer: - No.
  • Question: - Are there terminals developed by the company?
  • Answer: - No. Standard platforms are available for download.
  • Question: - Are there any fixed contacts in FinancesLab?
  • Answer: - Yes. Presented on the website.

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