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How to Spot a Fake Forex Broker
2:42 · 8 chapters · Forex lessons, part 107
What you'll learn
Fake or clone broker? Five minutes of checks before you deposit can save your money.
Go further with our written guide on this topic, browse all the free Learn Forex lessons, or check today's market in our forex news.
- Key point 1
- The difference between an invented fake and a clone broker
- Key point 2
- How to verify a broker's entity and licence on the regulator's own register
- Key point 3
- Why lookalike domains and young WHOIS dates are warning signs
- Key point 4
- Why paying a person instead of a company is a scam signal
- Key point 5
- Which withdrawal terms to read before you deposit
Rules and limits from regulators and official sources; every price, account and chart in the video is an example. Education, not financial advice.
More forex lessons
The video is presented by an animated host with a computer-generated voice; the research and checks are by the FX Recap team. Risk warning: forex and CFD trading carries a high risk of losing money because of leverage, and most retail accounts lose money. This is education and review, not financial advice. FX Recap may earn a commission from some broker links; see our affiliate disclosure.