The Anti-Fraud Checklist: 5 Tips for Safer Trading

The Regulation Test

The First thing you have to make sure when looking for the right broker is to check if they are regulated. If the broker is not regulated your money might be at risk. CM Trading is regulated by the FSB (The Financial Services Board) which oversees the non-banking financial services sector in South Africa.  

Education, Education Education

Newcomers in Forex have to learn about the market before they can start trading properly. It's important to check if the broker has an ebook you can use, a trading specialist who can help you get started, webinars, daily educational videos etc. All these things are extremely important and can have a major effect on your potential profits.  

Is This Safe?

Your money needs to be protected at all times, so when choosing a broker you need to make sure they use segregated accounts with reputable banks in order to ensure your money cannot be used for other purposes. In addition to that, make sure the broker's website is fully protected with SLL – Secure Sockets Layer.

The Office Element

This one is very important- although we live in an online world, make sure the broker has a physical office you can contact by phone or even visit there. If they don't have an office it should turn on your red lights.   

Social Media

Does your broker have a facebook page where you can engage with them? Do they answer your questions online? Are they able to give you a proper service and support? These are things worth looking at. 


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