How to Avoid Scams in Forex

The forex market boasts the highest trading volume in the financial market. At $5 trillion daily, it is much larger than the NYSE – the largest stock exchange in the world. The potential for making huge profits attracts investors worldwide, and with the introduction of online trading, the number of brokers has burgeoned proportionately.

And with the proliferation of brokers, the risk of fraud has also risen in a sector that is highly unregulated and often technologically obscure.

The story of Darlene is a good example of how fraudulent brokers operate:
“My husband had just found a job after being unemployed for 3 years, and with my salary, we suddenly had some money to spare. I figured we could be making even more money and opened an account with about $800. I did my homework (I used to work for an accountant), invested cautiously, and soon I’d accumulated $400 profit. The only problem was that when I tried to withdraw my money, I got locked out of the system. I suddenly started getting phone calls telling me that it would be a shame and we should be investing more… in short, the run-around. They were good, too. Instead of taking my money, I invested another $400. And then the company went broke and our money went down the drain with it. Apparently the owners had been using investor money for their own expenses and we were down a considerable sum.”

Fortunately, much of the forex market is regulated, and scams are not difficult to spot.

Here are some warning signs that should alert the potential investor when seeking a quality broker with whom to invest:

Too good to be true:
The classic swindle leverages the victim’s greed by offering more than what reality can promise. In finances, a solid investment will usually return a single figure yearly percentage on one’s investment; a riskier one will return anything up to 20%. Forex sites that promise double figure monthly ROIs will usually have a very hard time delivering on that promise, and usually have no intention of doing so.

Too safe for comfort:
Financial trading is risky. It always has been and always will be – as investors realize every so often when markets go into a tail-spin and global economies plunge. Forex brokers who hide unfathomable risk disclosures in the netherworlds of their site – claiming that these are mere regulatory requirements, investment advisers who assure you that a specific position is a certainty… these are usually salespeople whose primary intention is to lull you into a false sense of security, from which it will be easier to part you from your life’s savings.

Too slippery to grasp:
Check the broker’s address on Google Maps. See if it exists. Check the name of the bank. Ensure that client accounts are held separately from the company’s running expenses accounts. Are overseas addresses, phone numbers and operations aligned?

All gloss, no substance:
Behind a reputable company lies a reputable name. Investigate your broker – look up the names of its officers and read about the regulatory agency behind the company. Most reputable forex companies are regulated by an established regulatory body – CFTC or NFA in North America, FSA in the UK and CySEC in Europe (amongst others) – and they will be the first to publicize the name of their regulatory body. You should also be able to request the broker’s performance track record to check claims against numbers.

Incentives, incentives, incentives:
A sober investor has already decided to set aside a portion of his/her savings in order to invest for profit. Brokers who inundate potential and ongoing clients with incentives, bonuses, offers of inordinate leverage, etc. are ostensibly trying to motivate the motivated. This should be a waste of resources, and interred agendas are probably at play. Beware! There is no such thing as a free meal; the idea of “free money” is a contradiction in terms; and chances are bonuses can never be collected, and high leverage is a means of swindling you out of your savings as quickly as possible.

Luckily, Darlene and her husband did not lose much. In fact, they soon discovered that they were hooked. “I missed the excitement of watching the charts and seeing if my homework was paying off,” she says. Three months later, they opened an account with NetoTrade. “This time, I realized that it was just as important to investigate your broker as it is to learn your assets. The first thing I did was open an account and then immediately withdraw my entire balance… to zero! It felt great to breathe that sigh of relief when the correct amount showed up in my account the next day – the same amount as I’d invested the previous day. This time, the call came later, but it was a young man asking me if everything was alright. No sales – just honest concern. I told him yes and opened a second account – a demo one, this time – for my husband. The people at NetoTrade are devoting so much of their time training him, it’s like taking a university course, which would cost money in itself. I can’t begin to describe what it’s like to find an honest broker in the financial jungle.”

NetoTrade's Success Stories, Traders Testimonials

NetoTrade can be proud to work with and help tens of thousands of traders over the years with their investments. Below are some of the success stories and testimonials written by NetoTrade's clients.

NetoTrade's Homepage
"I have tried several different trading companies in the past, but NetoTrade is my favorite. Once I found NetoTrade, I abandoned all of the other websites. One of my favorite things about NetoTrade is that there is always someone to help me when I have a question. I love the live chat feature on the website because it makes it quick and easy to get answers to my questions. The chat representatives are polite and knowledgeable.
In today's market, it is not always easy to find companies with excellent customer service. I am happy to see that NetoTrade's employees have exceeded my expectations."

"NetoTrade is a great site to use if you are a beginning trader. When I opened my first account, I did not know much at all about Forex trading. However NetoTrade helped me get started quickly and easily.
The website is filled with helpful tutorials for beginners. These tutorials explained Forex and the terms that are commonly used in the trading market. The video tutorials are very well made and helpful.
NetoTrade also allowed me to start a demo account to learn how the site worked. This is a great feature because you can play around with trades without using any real money."

"I have been trading with NetoTrade for over a year, and I am happy to recommend it to anyone who wants an online trading site. NetoTrade is a well run, secure website with a wide variety of different trading options.
You do not have to be a financial expert to successfully use NetoTrade. The website is filled with helpful tutorials, and customer support is available via live chat. I have learned how to trade with several types of accounts using NetoTrade. There is no cost to join the site, and I'm really glad that I made the decision to open my account."

"Before I found NetoTrade, I thought that online trading was just for millionaires or stock market experts. Thanks to NetoTrade, I am now actively involved in trading. It is exciting to be a part of online Forex trading.
I chose NetoTrade originally because the website did not require a large deposit to open an account. I opened my first Mini Account with just $250, and I have worked my way all the way up to a Platinum account. NetoTrade has helped me learn the market and earn money to secure my family's future."

"NetoTrade makes Forex trading convenient and easy to understand. There are a lot of things to like about NetoTrade. The website utilizes updated technology, and I start every morning by reviewing NetoTrade's daily market analysis.
One of the best features of NetoTrade is the company's mobile app. I added this app to my smartphone, and I can check my account and make trades from anywhere with a few simple clicks."

"I am happy to recommend NetoTrade because the company provides excellent service, and NetoTrade rewards my loyalty by offering referral bonuses. I referred two of my business colleagues to NetoTrade, and the company has already deposited $500 into my account to thank me for my referrals."

NetoTrade's MT4: The Best Trading Platform

NetoTrade, one of the best sites available to forex traders, also has the best trading platform available to its clients. The MetaTrader4, better known as MT4, lets people execute trades on their computers as well as mobile devices, which is becoming more commonplace and expected from customers. MT4 has quickly become the most popular trading platform in forex trading, with customers all around the world giving it rave reviews for its convenience and ease of use.

With a combination of instantaneous execution and the highest-quality analysis available today, MetaTrader4 is known for its excellent performance and expert financial advisors always at the ready to give their opinion. The combination of these excellent features reduces any chances of re-pricing, letting its users know they can open and close their deals using a reliable and direct service.

With NetoTrade's free personal account manager, an investor just getting started can take the time to train themselves and learn the ropes before jumping in with both feet. By being able to hone one's trading abilities from day one, any investor will have the confidence needed to execute their deals when the real action starts. Loaded with numerous indicators and tools, the MT4 is ready, willing and able to assist any investor with executing winning deals.

If an investor is looking for a trading platform filled with features galore, MetaTrader4 won't disappoint. Offering the highest-quality market analysis available anywhere, MT4 has a huge variety of different charts and indices for numerous investment areas. One of its best features helping investors is its extensive technical analysis, complete with a comprehensive library of economic indicators to help investors make informed decisions before going ahead with their deals. Multiple order executions, along with real-time charting to let customers see what's going on as they speak, are just two more reasons why MT4 is the preferred choice as a trading platform.

With its chart-based trading feature and position-keeping, MT4 gives investors all the information they need while letting them conduct the day's business on their own terms. Using trading alerts and signals, MT4 gives its users a heads-up whenever there is action regarding their investments. Investors deserve to know what's going on so they can make informed decisions, and using these features will ensure they make the best choices available to them when it's time to trade.

What makes MT4 stand out from other trading platforms is the ability for an investor to create many useful features for themselves. Among these are automated trading programs, auto-execution scripts and expert advisors and custom indicators. By being able to customize their trading platform, customers can have the information they need at their fingertips. With all these features and so much more, MT4 is the only choice for serious investors who demand nothing but the best from their trading platform.

Why NetoTrade is Excellent for Beginners

If you are looking to get involved in forex trading, then there are some great sites out there for you. Not every site is good for beginners, and many have a setup that's much better for people with tremendous experience in the industry. NetoTrade is different. It's a site that's excellent for traders of all experience levels. Even if you are just getting started in the world of forex, you can take advantage of great features from NetoTrade that will make it easy for you to learn the ropes without too much effort. Why is NetoTrade excellent for beginners? Here are a few of the reasons.

NetoTrade's Trading Academy
The welcome bonus

Who doesn't like a little bit of free money when starting out? The truth is that you might take some lumps while you learn how to get very good at forex trading. To help you make it through these lumps, NetoTrade offers a 30-percent welcome bonus. This is money that you can use to fund your initial trades. Though there is a good chance that you will have success from the first minute, this site gives you a little cushion so that you can learn.

A low minimum deposit

Many forex sites make you deposit thousands of dollars or pounds to get started. They want a lot of your money in the site, and that is too much of a commitment for many individuals today. If you are just starting out, you may want to just get your feet wet a little bit before you really start trading. This is why NetoTrade offers a low minimum deposit amount. You only have to put in €200 or more to get going. If you just want to feel things out without a huge financial commitment, then this site gives you that option without requiring much more.

Testing the waters with a demo account

One of the best beginner-friendly features of NetoTrade is the demo account. If you are new and you want to test out some strategies that you may have learned, then you can do so easily with a demo account. This is a great way for first-time traders to familiarize themselves with the timing and all of the requirements of trading on the foreign exchange market. As you become more experienced, you will like that this feature allows you to play with new currencies in order to get a feel for them. Many sites do not offer this fun feature, and this is one of the things that sets NetoTrade apart from the crowd.

As a beginner, you should be using a site that is totally accommodating to your needs. NetoTrade is all about crafting its experience to people who want to become better traders. With its deposit bonuses, its low deposit minimum, and its demo account feature, you can become a better trader without losing money in the early part of your trading career. To top things off, the site has great customer service to answer any questions that you might have as you go about the business of beating the forex market. These things combine to make this the perfect site for beginners.

Huge Profits Made with NetoTrade

For me, online market trading is not just about satisfying my passion or following my interest. It means serious business because it is my bread and butter. I have been into these trading activities for quite some time now, and have never realised its seriousness any higher than now. So, I took off like an alien in search of green pastures across the Internet and tried different sites in the hope of making some money. However, guess what, I ended up with a big hole in my pockets and meagre digits in my savings account. Just when I thought that my hopes of bread and butter are coming to an end, I got a slice of life spread with peanut butter jam.

This was in the form of NetoTrade. I had my own inhibitions about this site, given my past memories with different sites. It was here at NetoTrade that I not only got more than what I paid for, but also got some good insights on the tricks of the market trade. My first feel of the site was like “Hmm…this looks decent with so many features and services…but do they really work?” So, I got into trying each and every tab, and it worked, to my delight! As my confidence improved, I started off with the mini account generally meant for new traders and saw gains within no time.

So, I took a step ahead and jumped into the Gold Account meant for professionals. For the first time, I felt I was doing something serious and professional. The cost of membership was reasonable, and I slowly started taking tips and guidance from the NetoTrade experts. In between, I also got into the education and analysis tabs to check what’s happening as they provide the latest updates on the market. By the few days that I started using NetoTrade, I could get perfect clarity on how to invest my money and where at what time. By coupling my experience with the inputs from the site, I bagged some good transactions and it brought a wide smile on my face and of course, a healthier bank balance!

The site is extremely professional and is a one-stop shop for all my online trading needs. Trust me, you will not regret if you try it once. Maybe you should open the mini account to see how things work, and the huge margins of profit will be good enough to prompt you and invest higher. Remember me, because I am going to get rich sooner than I thought (thanks to NetoTrade).

NetoTrade Review

Trading currencies has become a very admired activity. That is the reason why there is a large number of forex brokers out there trying to gain your favor. Plenty focus on running an efficient shop, while others entice you with a diversity of innovative features that could lead to achievement in this high risk setting. Every now and then, you find a broker that achieves in both areas. is one of these extraordinary firms. Whether you are a veteran or an amateur, you will locate a trading venue that fits your current requirements. You will also find a development path for future trading possibilities if and when your skills increase to meet extra challenges.

Netotrade is a wide based investment company that gives an approach that has many aspects to trading that contains global forex brokerage. It is complemented by simple access to tradable quotes for merchandise or stock indexes with CFDs in the international market. The company is a leader in the industry. It is headquartered in London. It was founded by a group of industry specialists that share over fifty years of combined experience in the foreign interchange or exchange industry. This group designed special account types that match up well with all skill standards. Some accounts qualify for direct ECN/STP working where slippage is not a problem. Tight trading spreads are normal. No fees or commissions are assessed. Here are the features of Netotrade:

* Spreads - Generally tight, beginning with 0.3 pips.

* Leverage - It is up 1:400. It is more for a platinum account.

* Trading Strategies - No restrictions for scalping, use of skilled advisors,
or hedging.

* Execution - Tight spreads and execution are made feasible by having banking
relationships and cost feeds. This is from over fifteen banking and financial

* Platform - Netotrade has its own decorum web and also its own mobile trading
platform as well. The award winning MT4 platform is another platform
that you can use.

* Accounts - There are four account options available tailored to personal skill

* STP - This stands for straight through processing. This prevents the need
for a dealing desk.

* Superior And Live Customer Support - This company takes pride in the quality
of service that it supplies. They do this by requiring all personnel to have
appropriate industry authorizations and qualifications.

* Security - Netotrade supports both client and operational bank accounts with
respectable banking institutions. Client funds are divided in separate
customer accounts. This isolates them from creditors in the unlikely event
of absence or default.