Are you new to trading? If you are, then you have a lot to get in order when looking for a broker.
Trading is a field where people spend more time preparing than executing. After all, most of the execution is about placing an order. This doesn’t take more than a minute, depending on the medium you’re using.
There are things you have to get in order before every trading session. But, there are also preparations you need to make before starting your trading journey. One of those is to find a trustworthy broker.
Unfortunately, traders tend to face a lot of obstacles in their broker search.
Brokers: A History of Scamming.
If you’ve ever decided to study the darker aspects of the field, you’ll find that there have been a lot of broker scams throughout the history of trading.
Broker scams include anything from fake trading firms to churning. Additionally, markets where use of high leverage is common tend to involve the largest scam attempts.
As you may have guessed, we are talking about the forex market.
In forex markets, price motions are minimal, and thus you need a lot of leverage to make money. While leverage can multiply your gains fast, it is unfortunately a double-edged sword. You can lose money just as fast in forex.
This is something that scamming brokers tend to capitalize on.
A lot of scamming brokers will recommend orders in horrible markets disadvantageous to the trader. This is while “pretending” to place an order for them in the market of choice.
As you may have guessed again, the pretend orders are fake.
Thus, when the trader loses money on the trade, their account sinks due to the high leverage. The lost money is taken by the broker, since there were no orders to begin with in the first place.
By Now, You Might be seeking the Location of Trustworthy Broker.
No worries though. Trade12 can provide you a list of trustworthy brokers for a safe trading experience.
Trade12 is a company that has been offering trading services to traders for close to 12 years. It is actually the oldest online forex and metals trading platform, and the most famous.
Read more about Trade12, a platform that will give you a free lifestyle.
Trade12 regularly scouts brokerage news to find and list scammers as warning signs to traders. With Trade12, you are sure to receive a broker who works for you best interests.
The trustworthiness of Trade12 as a platform can be seen through many online reviews. Trade12 reviews not only praise the platform’s safety, but they also praise the educational value provided through it.
Even Brokers Benefit too Through Trade12.
Trade12 allows brokers to recommend clients onto the website through an affiliate program. You earn a commission for every successful client recruited.
Also, brokers can recommend other brokers onto the platform. As a bonus, you will receive a commission every time the recruited broker recommends a trading client!
That’s a lot of money to gain just through commissions!
So why not start with the platform now? Broker or client, you definitely won’t be disappointed!