5 ways your broker can steal from you

  • March 9, 2021 3:55 AM PST
    There are many trading brokers you can choose from. But you should be
    extremely careful because not all of them are honest. In fact, a great
    number of brokers working on the Internet are not regulated. Those you
    do not want to be anywhere near your trading.To get more news about [url=https://www.wikifx.com/]WikiFX[/url], you can visit wikifx official website.



      There are also plenty of regulated brokers of financial derivatives.
    Again, not all of them are the best choice because not everyones work is
    transparent.



      And here is Olymp Trade. During the time we conducted many tests to
    discover the ways regulated financial derivative brokers steal from you.
    Olymp Trade proved its worth. This is the one you can trust.The traders
    develop their own trading styles and normally, those techniques work on
    various platforms. The truth is, that the broker is at the same time a
    technology owner. And this, unfortunately, gives them the ability to
    moderate the price.



      If the broker is dishonorable and he notices that you keep winning the
    trades, he might want to change this situation by manipulating prices.
    Usually, it is one tick change just before the end of the trade.



      If you are in doubt, check out your broker by opening another platform
    (e.g. MT4) next to the present one. Run them simultaneously and compare
    the price fluctuations in real-time.Fixed-time trades expire at the
    specified time. Therefore, it is very important to study the timer, when
    entering the trade. Keep an eye on the clock to check whether the order
    is processed exactly at the time it was set or not. Next, whether the
    timer runs as normal. And lastly, whether the trade expires as expected.



      Unfortunately, there are brokers ready to manipulate their timers just
    to cause a loss for you. They either make the clock run faster or
    slower. Both ways, you lose, they win.Small gains are increasing the
    appetite for more. They boost your confidence as well. Why not try on
    bigger amounts when you are so good in small ones in the long run. And
    brokers know all of this very well.



      What they do is allow you to win small amounts on their platforms.
    With time, you wish to invest a big chunk of money in one transaction.
    And from this point, things are not going exactly the way you wanted.



      The brokers are fraudulently taking the money from your account
    balance. They are aware of the fact, that you will most probably fund
    your account another time just to recover your failures. And it all
    starts again.Another classic way for market crooks. Imagine you enter
    the trade. It is very natural you want to watch how it is developing.
    You want to see the price movement in the desired direction. And right
    before the transaction expires, the server disconnects.



      Sure, the error connection could happen. But not necessarily it was on
    your side. Sometimes it is the broker‘s intentional action. And when
    this will happen, you become completely baffled. The market won’t stop
    and wait, but you can do absolutely nothing. After a very short moment,
    even a few seconds, when the connection problem is fixed, you realize
    you have lost your trade.Usually, the brokers have a set schedule in
    which payouts have to be processed and transferred to clients accounts.
    If you find out you still do not have your money deposited after the
    specified time, you have the right to ask for the explanation. And then,
    there should be the support team able to help you to get your money
    back.



      The trick the fraudulent brokers often use is to upset their customers
    by applying a difficult and confusing support system. Often the clients
    get fed up with it and they simply give up. Do not be one of them. Be
    certain to generate a transaction confirmation each time you perform a
    payout. You can also take a screenshot. Moreover, please verify that
    your chosen broker has a tracking mechanism that gives you the
    possibility of following the withdrawal process.