What gives out the Forex scammers? FinancesLab tells about it
Dwain Ross
10 / January / 23
Visitors: 63
Fraudsters are everywhere. The stock market is no exception. There are plenty of them here. New schemes appear every day, and there are more victims. They are cunning, inventive, and sneaky. They are not bad psychologists, they easily find weaknesses and know where to apply pressure to obtain what they want. Their activity is carefully disguised, so inexperienced players find it difficult to distinguish them from normal, trustworthy services. In addition, they often copy the sites of licensed services, passing them off as their own.
Reviews of Forex brokers will be helpful in making choice, but it is better not to rely solely on them. Some have had a good experience, while others have been less fortunate. It is not enough for a general picture, although people are generous with details, honestly telling you about their cooperation experience.
If you're not familiar with a company's activities, you might think that FinancesLab fraud. But, FinancesLab legit and works honestly, and the legality of the activities is confirmed by a set of documents and a regulator. A contract must be signed with each client, telling them about the rules and acting as a guarantor of obligations.
FinancesLab is a good broker and offers transparent conditions, without hidden payments. No one here demands an upfront payment, does not insist on dubious schemes, and does not offer to fund the account via an employee's card. Annual audits are conducted and the honesty of the payments is confirmed by reporting.
There is detailed information about the risks. A personal manager informs about them, and all cases leading to loss of funds are spelled out in the agreement.
There is quite a lot of free training material on the platform. There is a separate course for beginners. The staff also receives regular training.
Each registered user is given access to a large set of forex tools. There are several account types to choose from and there is a verification procedure. Without verification, there is no access to the personal account.
FinancesLab legit and does not work with untested terminals, nor does it offer to install questionable applications.
How to identify forex broker scams?
It is better to start getting to know a new service not only by looking at the reviews but also by looking at the reporting. If it is hidden, then something is not right. Also, black brokers do not have licenses and their activities are not monitored by the regulator.
Some people mistakenly think that FinancesLab scam, but this is not right. The company documents are in order, plus they are in the public domain.
In fact, the intruders are easy to recognize. This is what gives them away:
- error in the domain name, no SSL certificate. The site is almost unusable. Links on it are not active, text blocks are incomplete, and data cannot be copied;
- offer to install a remote access application or a terminal allegedly issued by the company. Normal brokers, such as FinancesLab, offer to use standard MT5 and MT4 trading platforms;
- earn only through PAMM accounts. This is certainly not a bad tool, but it's not the only one;
- communication. It is too familiar, and assertive. Scammers are aggressive, sometimes not choosing their words;
- the methods of making a deposit. The fraudsters do not have a lot of them. Most of them are personal cards and e-wallets.
FinancesLab is not a broker forex scammer as it does not fit any of the criteria. The broker has clear terms, free training and regulator reporting.
How to protect yourself?
Scammers try every way possible to gain access to a personal account by swindling information. Before signing up, create a reliable password. Complex combinations are difficult to crack, so use both letters and numbers. It is also important to use a current phone number in order to receive codes.
It is also possible to:
- set up two-factor authentication (if the company provides such a service);
- configure an SMS notification with a secret code for any transactions.
FinancesLab does not ask for personal details, does not send payment details.
Findings
The company has no debts. All clients receive money. The withdrawal time depends on the type of payment system, but usually, the money comes into the account quickly. Everything is transparent, taxes are paid for clients.
FAQ
Question: - Can the support team write via social networks?
Answer: - No.
Question: - Do I need a trading terminal to work?
Answer: - Yes. It is available to download on the website. FinancesLab only offers proven platforms.
Question: - Is it necessary to provide an employee remote access?
Answer: - No. Managers of the company do not ask for such access.
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