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Bonuses and promotions are quite common offerings by brokers, including legitimate ones. Licensed and regulated brokers have to ensure that their bonuses and promotions meet regulatory guidelines and do not “lock” the trader in.
However, some shady brokers lure in investors with promotions that are misleading and have terms and conditions that are so stringent or outrightly unattainable. This means that their investors will almost always end up losing their trading capital before getting a chance to withdraw any profits. If it sounds too good to be true, it probably is
Yes, forex scams are still common. And any trader, both experienced and novice, can become a victim of a scam in the Forex market. Having a license from a broker is not a guarantee of the honesty of a broker. Before investing money in a particular broker, be sure to read reviews on the Global Fraud Protection website such as Inertia Finance broker review and reviews of other brokers, this will help you avoid losing funds. Global Fraud Protection has already exposed more than 500 scam brokers