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There are some things in life which come easy. Like Oxygen for breathing or water for drinking. Then there are some which we have to earn by devoting our time, blood and sweat. Earning money falls in this category. Whoever tells you about making easy money is either a fraud or someone living in some kind of a wonderland. The fact is that there is no so called 'easy way' of getting rich that will ensure you a life of luxury. Unfortunately, due to a combination of ignorance, naivety and circumstances, a significant percentage of the global population falls to numerous financial scams each year in which they end up losing their hard earned money and are left with nothing but regret. In this article, we are going to brief you on how to avoid getting duped by a forex broker whether you are residing in UK or India. If you live in UK and are involved in forex trading, then the name Financial Conduct Authority or FCA must ring a bell. It is a quasi-governmental body that has been formed to regulate firms providing financial services to customers in UK. If you are planning to start investing in online forex trading, the first step to follow is research. Each country has its own rules and regulations. So, a knowledge regarding the regulating authorities of each is a must. Ensure that a broker is registered with the governing body. The first golden rule that guarantees protection is to remember – there are no free lunches. Nobody in this world will be able to make you rich in a fortnight or offer you truckload of money in no time. So, if anyone makes such claims, stay away. Another category that should be avoided includes those promising no risks because the financial market is of volatile nature. It witnesses fluctuations every minute and there is as much of a chance for you to make profit as it is to endure loss. So, the element of risk is a permanent feature when trading foreign currencies. However, not all brokers are going to dupe you. There are cases where disgruntled traders post unsolicited comments about their ill fate blaming it on their brokers which may or may not be true. So, ensure you have several sources to refer to before making a choice. Ensure there aren't any complaints regarding difficulties in withdrawing funds about any broker. If you do come across any such experience try speaking to the affected party about it and take lessons. One of the things that we always avoid is reading the terms and agreements thinking they aren't worth the time and concentration or assuming that if others too have agreed to it then it must be reasonable. Believe us, it is not the case. Read each and every word of the document carefully before signing on the dotted line. These are few elementary precautions that will help you in choosing a safe broker. Happy trading folks! Tradenextglobal (UK) is leading Forex Broker UK help you in cfd trading online. We are one of the best forex brokers, offers automated trading, metatrader brokers London, cfd trading online and other fx trading services.
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