scam brokers are scam brokers. Some scams are attributable to beginner traders who are new to the markets and accuse their broker of being dishonest, but in many cases scam brokers are the culprits.
The trader must first inform himself to understand if a broker is a scam before opening an account. Once it is established that this is not a scam broker, it is advisable to start with a small deposit, place a few trades and then withdraw the capital from your account. If these operations are performed correctly, you can proceed with a higher deposit.
If you suspect that you are the victim of a scam broker, it is advisable to contact the market regulator in Italy - the Consob.
Protect yourself from scam brokers
Protecting yourself from scam brokers is crucial. Here are some tips to protect yourself from unscrupulous intermediaries:
- search online and read reviews about the broker.
- Make sure there is no mention of difficulty withdrawing funds to your account.
- carefully read all the documents available when opening an account.
- If you are satisfied with the research, open a mini account or small capital account for a trial
Warning: It should be noted that the size of the broker cannot be used to determine the level of risk whether it is a scam broker or not. Although large brokers manage to become such by providing a certain level of service, the financial crisis of 2008-2009 taught us that a large or popular company is not always safe.
