How Do Forex Brokers Cheat Traders and Ways to Avoid Forex Broker Scam
Do forex brokers cheat traders? asked by Daily Trading Tips Investmenttotal.com readers from Canada, because he read our article on how to start trading forex in Canada and what are the forex broker that accepts Canadian traders.
Dear InvestmentTotal.com Admin, I want to ask what are the reliable forex brokers in Canada and do you think forex brokers cheat traders especially those retail traders who has only small capital?
I want to ask many traders all over the world, do you think forex brokers cheat traders? Well, in my opinion whether you have a small capital or large forex trading account equity, many forex brokers cheat traders.
Here’s how! By manipilating the forex price, if you have a sell position, and some “cheat” spikes to the price, you will lose your trades. But many professional traders has counter trades in case forex brokers cheat these traders.
Example Forex Brokers Cheat Traders
You have a sell position because the market is down or bearish, you will keep adding positions when the price is going up, that case you will minimize the forex broker cheating activity. But you need to consider risk reward ratio after all.
You need to find a reliable, trustworthy forex broker for you start trading forex. The success in forex trading will not only rely on your forex trading strategy but of course to the broker you are using.
Ask the Traders: Do Forex Brokers Cheat Traders?
Now, let us ask many professional, experienced traders all over the world. Leave a comment below if you experience this kind of cheating activity of forex brokers.
Be careful not to post affiliate links of forex brokers because we want to have a safe a community of forex traders here. Thanks! Write your opinion below!
I think there are many ways forex brokers can cheat you, here some of the few ways, stop loss hunting, slippage, markups, requoting, swap and leverage..know more about these things to avoid getting cheat by your forex broker..have a nice day forex guys!
It is very possible that brokers can cheat traders because brokers can manipulate the market..as simple as that.
Forex brokers will keep your trades secret. Typically your forex trading entries were not sent to the real market. The forex broker will then execute your trades against you, taking the other side of your entries, if you buy, maybe your broker will move the price going down, and if you are going short, the price will go up, that’s how brokers manipulate your trades and in that way, forex brokers are seriously cheating the traders..