Doing a quick search on the internet about Forex broker scams will land you loads of results. There are a plentiful amount of brokers solely out there to scam you out of your hard-earned money, ITRADER is an example of a genuinely reliable broker. The following lines will explain how to differentiate scam brokers from those that can be trusted.
One thing to look out for when choosing a broker is regulation. You can rest assured that ITRADER is not a fraud as it is a regulated broker.
How Regulation Ensures Brokers Don’t Deceive Their Clients
There is no questioning the need to trade with a regulated broker. One cannot stress the importance of a broker being regulated by an official regulatory agency enough.
In order to protect consumers, regulatory agencies are able to utilize an array of enforcement powers (criminal, civil and regulatory) should they find that a broker is disobeying the guidelines set by them.
ITRADER is Far from Being a Fraud
ITRADER is owned by Hoch Capital Ltd. which is regulated by the Cyprus Securities and Exchange Commission (CySec), license number 198/13. Cementing the fact that they are far from being frauds.
Brokers under CySec must comply with a handful of rules. One example is as proof of the broker’s financial stability; brokers must have and maintain €730,000 worth of net tangible assets. Another is that CySec requires that the operating funds of the company and the funds of the customers are to be separate. Companies regulated by CySec are also members of the Investor Compensation Fund which means users are to be compensated up to €20,000 should the company go bankrupt.