In today’s hectic and evolving world of trading, there are more and more broker companies emerging each day. This is a good thing since the clients can have a broader selection at their disposal. They can search high and low for the most suitable trading company that will help them and guide them on the road of fulfilling their trading dreams.
However, there are two sides to every coin. And here, the dark side is the fact that the majority of these companies are not at all reliable. They are just here to scam the clients out of their money, usually by promising them impossible trading conditions while guaranteeing high and easy profits for their portfolios. How can you spot a misleading broker company? GlobalFXReviews will tell you how.
Recognizing a Suspicious Broker
There are a few ways to recognize a broker company that is just here to take advantage of you. One of the most evident signs of a company’s ways is the lack of regulatory information and licencing. Namely, the regulation is one of the most important things that protect you from fraud or abuse in the world of trading. Some of the most reputable regulatory authorities in the industry include:
- Financial Conduct Authority (FCA) – this regulatory authority is based in London, UK. It is one of the strictest authorities out there and requires utmost respect and following of their guidelines and regulatory policies that are in line with the latest market requirements
- Cyprus Securities and Exchange Commission (CySEC) – this is another important and respected regulatory government agency that is mainly responsible for trading activities in Europe and Asia. It proposes strict regulatory frames as well as quite harsh fines in a case that any broker company disregards your rights as a client
- Financial Industry Regulatory Authority (FINRA) – FINRA is a regulatory authority with headquarters in Washington, US. It is one of the longest-standing agencies for the regulation of the trading activities in the country, which is known to have some of the strictest rules and guidelines for this area.
Each one of these regulatory bodies tells you how reliable a broker company is. There are many of them that tend to hide or outright make up the fact that they are regulated, but this can easily be checked by visiting any of the regulatory agency websites. This is the first of many guidelines that the GlobalFXReviews website follows, and regularly checks so you don’t have to.
What About Education?
Education is another important feature that we need to mention. GlobalFXReviews has noticed that it is one of the most important signals that show you how dedicated a broker company is to you as a trader. Namely, there are many companies out there that forget how important it is to constantly be updated with the latest innovations on the trading market. Since the environment is constantly changing, there are always new things to learn about and improve your trading skills.
A great trading company recognizes that, which is why they are always updating these sections and adding new and useful things for you to learn. The educational section review is one of the regular parts of each GlobalFXReviews article. Here are some of the most important sections that prove that a trading company is dedicated to your market education:
- Market news and updates – every great trading company knows that there are a lot of factors that contribute to your trading. From the political situation to the financial environment of a certain country, there are important features that are covered in the daily news
- Economic calendar – this is an important educational section that lists all the latest and upcoming economic events that could affect your daily trading. They include everything from the key Federal Reserve and central banks meetings to the quarterly reports released by the companies worldwide
- Expert analysis – expert opinion is quite important for your everyday trading. The most influential figures of the financial world are regularly providing traders with their analysis of the current state of the market, as well as the research of the latest trends and occurrences in trading.
GlobalFXReviews Website Outlook
The GlobalFXReviews website is well organized and professionally designed. You can see that the creators made quite an effort to create a place which would be equally inclusive and easy to use, as well as be informative and filled with useful tips. GlobalFXReviews is a clear representation of all those values. When you visit the website, you will engage with a simple but efficient website that loads instantly and is not filled with unnecessary clutter.
The reviews are unbiased and presented in an informative way. This website does not tend to push any information on you so they can persuade you to trade with one broker or disregard the other. Rather, they are simply presenting you with the valid and useful telling sings of the company’s reliability and trustworthiness. Based on their extensive research, you can decide on your own if a certain trading company is worthy of your time and trust and create a trading strategy accordingly.
Each review on GlobalFXReview’s website follows a similar structure that makes it easier to organize articles and find what you are looking for. Here are all the parts that are covered within each one of them:
- General Information – this is the introduction of the article review. It lists information such as the year of establishment of the trading company, the languages that are available on the website, as well as details about depositing methods and of course, the trading instruments that you can find on the trading platform
- Regulation – this is one of the key sections that show how reliable a trading company is. The regulatory information of each one can easily be found on the company’s website. However, if you’re having a tough time finding your way, it may mean that they have something big to hide
- Trading Platform – the trading platform is the most visited part of each company’s website. It should consist of a clear list of the tradeable assets, as well as load perfectly and without any delays. Also, a good trading platform gives you an opportunity and access to a variety of trading signals and instruments that can enhance your trading experience
- Customer Support – a great customer support team should satisfy more than a few demands. For starters, the agents should be friendly and knowledgeable, as well as easy to reach. They should also respond quite fast and be patient with the customers’ many demands and queries. After all, the customer support represents the entire company, so they reflect on the image and reputation it will have on the market
- Deposits and Withdrawals – lastly, this is quite an important section of each trading company. Here, the information should be listed clearly and without any misleading data. The great payment options selection is a plus, as well as a clear list of requirements regarding the minimum deposit and withdrawal, as well as the commissions and fees that are attached to each transaction.