Forex Broker Cheating Forms

The possibility of being cheated by a forex broker can be experienced by any trader or can be done by any broker. In this case the aim is to harm the trader and increase the profit for the broker. This is the form of forex broker cheating:

Widen the Spread to Minus A lot, Even Up to Margin Calls

Spreads are usually according to the type of account. However, if the broker wants to cheat, it can widen the spread at certain times to finish off retail traders who are in a state of minus a lot or thin margins. This is very vulnerable for traders who use large lots, and will also be easy food for brokers who want to cheat.

Doing GAP to Take Stop Loss

There is a term called SL hunter, this happens to hit or take the trader's stop loss settings. Usually marked by a long and unusual candle, traders can find it under certain conditions and when compared to other brokers it is very much different. Although many argue that the server is different, if the difference is too far, it means that it is suspect.

Canceling Profits Gained by Traders

Canceling the profit earned by the trader is also included in the fraud of a broker. Unless the trader commits a violation, this is still normal. There are several brokers who have rules, for example, do not allow hedging, can't enter right at the time of the news and some other rules. If there was already a rule like that before. So the cancellation of profit is a natural thing. However, if the trader does not commit any violation, the trader's profit is canceled. That's a sign the broker is cheating.

Canceling Withdrawal or Failing to Withdraw

For this one thing, it is certain that serious fraud means fraud. If there is a broker who cancels wid for reasons that are not strong, it can be ascertained that the broker is doing scams or fraud.

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