Are forex traders on instagram legit

These traders share their portfolios with their positive words indicating everybody can achieve what they have.

Free forex bonuses

What is a Forex Broker for 2021, are forex traders on instagram legit.

Check your forex broker has a history of at least 2 years.
Check your forex broker has a reasonable sized customer support of at least 15.
Does the forex broker fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings, or at best play an arbitration role in case of bigger disputes.
Check your forex broker has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
Does your forex broker have an international presence in multiple countries. This includes local seminar presentations and training.
Make sure your forex can hire people from various locations in the world who can better communicate in your local language.

What is a forex broker for 2021

We found 11 online brokers that are appropriate for trading forex.

Best are forex traders on instagram legit guide

Are forex traders on instagram legit?

When you scroll your instagram page, there is a chance you will find ads with regard to forex.

These traders share their portfolios with their positive words indicating everybody can achieve what they have.

Some people label this as a “get rich quick scheme with forex”

There are thousands of profiles who present their wealth to the world. Fast cars, big houses, shiny watches. How much of this is true and are these just bold claims without any proof?

The younger generations will be familiar with forex stories on instagram. You may have come across similar promotions, but be careful as some are deliberate to lure you into an illegal trading activity, or some just merely want to steal your personal information?

Be wary of everything you see on instagram

It is also important to keep in mind that not all what you see on instagram is true. There are many self-proclaimed instagram traders who make use of the instagram platform for their own benefits.

They lure youngsters into traps by using tactics and they can teach their victims ways to make six figures in the early years of trading.

So, these self-proclaimed forex traders share their stories through photos uploaded on instagram. They will show off their sports cars, celebrity friends and luxury holidays to attract their audiences. In the description box, they state they managed to achieve this because they are professional traders who have been able to exploit the foreign currencies market.

They believe that their followers can do the same thing if they follow their formula and say their audiences can receive tutorials for free.

Of course, this is not true. If you have ever seen a similar campaign online, there will certainly be strings attached.

Signs of instagram forex scams

The initial investment can cost that instagram traders ask you to invest in their guides and signals is an enormous amount of money.

These self-proclaimed traders say that you only need to take around 10 minutes a day to trade and by then, you will be able to earn thousands a month, but in reality, you need to sacrifice more than your initial capital to attain such results.

Hundreds of traders who post on instagram lack of credibility. When asked for the accreditation and qualifications to prove their proficiency, they will ignore you. Some of them are real and you can meet them in person but that does not make them legal.

You can easily see the signs of a possible scam here.

Firstly, look at their main profile page and check if they insert their main website link. The self-proclaimed traders do not usually have a website.

Any link which they refer to you needs to be checked. Chances are you will be redirected to their “killing box”, where the page asks for your facebook credentials etc

If the page is something else, consider checking if their business is registered in the country.

Copy trading has been the most common topic which the instagram influencers often share with their followers.

Copy trading, although it might be conducted with a regulated party, can be promoted by unethical affiliates.

Some people claim that they are working under a popular regulated financial institutions’ umbrella. They even boldly frame their profiles with the company’s slogan and other relevant information so that they can easily lure their victims into their traps.

How to check if something is a scam

Then you could ask them for identification. If these traders are indeed working under their formal umbrella, then it won’t be hard to confirm that.

You must avoid unauthorized people as much as possible. There are many unauthorized traders who practice under names of popular companies and it is sometimes difficult to differentiate the scammers traders from the real traders.

Also only registered financial professionals are allowed to give you financial advice.

The practice has never been easy for novices and beginners. Some unauthorized forex traders claim to offer real time forex signals. As an example, let’s say jack operates through instagram and whatsapp where he can post pictures such as sports cars, penthouses, traveling photography etc.

Some unauthorized forex traders claim that customers who join them will need to pay around £300 as the initial capital for any investment.

Beware that unauthorized forex traders do not necessarily scam you. Some of them do offer the real thing, but they are not willing to disclose the risks involved of joining them.

When clients lose money or get cold feet it is much better to go to an official institution yourself and receive a consultation with an expert who knows the financial markets.

We've collected thousands of datapoints and written a guide to help you find the best what is a forex broker for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best forex below. You can go straight to the broker list here.

Reputable are forex traders on instagram legit checklist

There are a number of important factors to consider when picking an online forex trading brokerage.

Check your forex broker has a history of at least 2 years.

Check your forex broker has a reasonable sized customer support of at least 15.

Does the forex broker fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.

Check your forex broker has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.

Does your forex broker have an international presence in multiple countries. This includes local seminar presentations and training.

Make sure your forex can hire people from various locations in the world who can better communicate in your local language.

Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.

Our brokerage comparison table below allows you to compare the below features for brokers offering forex.

We compare these features to make it easier for you to make a more informed choice.

Minimum deposit to open an account.

Available funding methods for the below forex.

What you are able to trade with each brokerage.

Trading platforms offered by these brokers.

Spread type (if applicable) for each brokerage.

Customer support levels offered.

We show if each brokerage offers micro, standard, VIP and islamic accounts.

Top 15 forex of 2021 compared

Compare forex min deposits, regulation, headquarters, benefits, funding methods and fees side by side.

All brokers below are forex. Learn more about what they offer below.

You can scroll left and right on the comparison table below to see more forex that accept forex clients

Are forex traders on instagram legit?

Are forex traders on instagram legit or scam showing their luxury cars and huge forex trading profits to their fans or followers

LOL. Many newbiew forex traders are getting lured by many forex traders in instagram after they saw a luxury cars (ferrari, lamborghini) sports cars and proof of income or trading profits.

Are these forex traders only scammers or are they legitimate traders and they just want to prove that there are money in forex trading.

Forex trading on instagram

Forex traders are busy analyzing chart, reassess their performance and no time in posting or uploading photos on instagram. We have some conclusions and we may think that forex traders on instagram are legit if;

The forex trader on instagram know you personally or vice versa.

The forex trader on instagram is really professional, highly respected and reputable

Image: syed ikhwan via flickr CC 2.0 – are forex traders on instagram legit

What do forex traders on instagram usually do?

Forex traders shows photos of their luxury lifestyle including their branded clothes, luxury vacations, sports and luxury cars, (bentley and rolls royce this time), huge amount of cash, fat stacks, file of cash, their rolex watches, etc.

These does not mean their forex traders on instagram are legit when they show off these things. They might backed up by the brokers and brokers just used people (fake traders, scammers) to join in their forex broker and once you join in their forex broker, they will earn commissions or the broker will only after your money.

Forex traders on instagram usually are not professional forex traders. They are just hardworking affiliates getting commissions once their followers or fans signed up in their forex broker affiliate link.

What do you think about the forex traders on social media? Are forex traders on instagram legit or I am absolutely right on what I think about them? Leave a comment below.

Young people targeted by instagram scams. That means you too!

Published: 24th september, 2019.

People under 25 are falling in droves for the lavish payouts promised by rudimentary instagram scams. The phenomenon has become so wide-spread that even the FCA saw it fit to sound the alarm on the issue.

Until not-so-long-ago, old people (those over 55) were considered to be most vulnerable to various scams perpetrated online. It makes perfect sense: a generation not particularly well-versed in the ways of this new online world, would indeed be expected to fare poorly when faced with its perils.

All that is apparently a thing of the past now though. Those who currently make up the over-55 age-category, have grown somewhat immune to the tricks of the online scammers. In their stead, the young adult category has become the preferred target of shady online operators, and yes, that means you too.

These days, young people handy with facebook, instagram, youtube and the likes, are the most likely to fall for get-rich-quick schemes, even if these schemes are rudimentary and lack any kind of credibility, even at first glance.

Is this all part of the much referred-to “dumbing down” of the populace, or are there other reasons behind this strange phenomenon?

The gullibility of the social media consumer space should not be underestimated, even if you think you’d never fall for such shady dealings yourself.

Not only do these (mostly instagram-borne) scams make no sense to anyone with the least amount of common sense, there are scores of celebrities (among them the rock – dwayne johnson – himself) who have gone out of their way to warn people about them.

To really understand why such scams are so successful, we need to consider what the instagram generation finds highly appealing and cool. That’s what this game has always been about: appealing to a certain target audience, eliciting greed and possibly envy, and then hammering home the pitch.

The scammers start out by setting up instagram accounts. To the expert eye, these accounts are very easy to spot and they do tend to be mostly alike.

They feature pictures of attractive young people, posing in front of expensive mansions and cars, while holding up wads of cash – as if saying: this could be you! Accounts featuring attractive hot young women tend to draw noticeably more followers for the obvious reasons.

That said, there are plenty of such scam accounts featuring the alleged profiles of young men too. The scammers do not want to leave any demographic group uncovered and since they are sort of saying “this could be you”, they need characters their targeted people can identify with.

Just ask yourself whether you find these instagram profiles more attractive and trustworthy than that of some old geezer in a suit, trying to sweep you off your feet with corporate lingo…the answer’s obvious.

In addition to the actual pictures of the “instagram account owners” and “would-be influencers”, the accounts post pictures about trading and about bitcoin too: after all, hailed as the currency of the future and thought to carry tremendous upside, BTC is not only “cool” right now, it is considered a superior investment-vehicle by many. The younger generation sees what BTC is trying to accomplish and they are therefore much more open to it.

How exactly does the instagram scam unfold though?

Having followed the bogus account, young people are then chatted up through instagram chat, facebook messenger or whatsapp, by the scammers. Many engage in conversation with the perpetrators of the scam. After all, who wouldn’t want to talk to that hot babe who lives in a mansion and drives a ferrari?

The conversation is quickly steered towards finances and lo and behold: the instagram rich-kids are more than willing to share their wealth and to help others become as cool as they are.

How is bitcoin involved in the fraud?

The victim is usually talked into creating a BTC account and transferring some $500-$5,000 to the scammer, in BTC. Guess what though: BTC transfers cannot be charged back and the funds obtained by the scammers can be laundered extremely easily in the crypto-sphere.

If this initial transfer weren’t made in BTC, victims might be able to bring credit card companies into the fray on their behalf, but this way, there’s not much they can really do when the whole thing inevitably blows up in their faces.

Once their “investment” reaches its intended destination (the scammer’s pockets), victims are kept in the loop regarding the “profits” earned on their behalf.

The “trading” angle

Scammers allegedly create an account with an online FX/CFD provider (binary options were heavily used in the past too) and they then send photoshopped screenshots to the victims, showcasing the profits they make. Why do they do that at this stage? You see, the scam hasn’t wrapped up yet.

The “deals” are usually agreed upon for 1-2 weeks. After this magical waiting period expires, the time comes for the scammer to return the money and the profits accrued. To do that though, he will require another payment (usually 10% of the total) for fees/taxes. Those who do send money again, are swindled yet again. Those who do not (they don’t have the funds, or they begin suspecting they’re led on) are considered to have willingly given up the funds to the scammer.

The interesting thing is that nowhere along the scamming chain are there any papers signed, any terms and conditions presented, or any guarantees really, other than the “word” of the scammer. Exactly how victims believe this is a setup they can benefit from is difficult to see, though it probably all has to do with the trust these people have in social media in general.

The bottom line is that despite its apparent sophistication, the scam really is a rather crude one, and falling for it is at least a little embarrassing, on top of being painful.

Just how big is this “industry”, and why are young people like you more prone to falling for these scams?

According to the FCA, while scammers will usually settle for just about any sum they can squeeze out of their victims, the illicit funds generated by the activity are northward of $100,000 a day.

To understand why people are falling for these scams, we need to understand exactly who are falling for them.

University students are placed under an enormous amount of financial stress these days. Many of them start off their studies being entirely unsure whether they will ever finish them.

These circumstances make these young people not only desperate for cash, but also much more willing not to listen to the voice of reason, when a deal that’s obviously too good to be true pops up on the radar.

Students are not the only demographic vulnerable to such scams though. In fact, people seeking financial opportunities are generally at risk, and indeed, such people tend to be generally from the younger, “hungrier” generations.

Even so, out of every 10 young people, only 1.3 will fall for an instagram scam – make sure you’re not that odd one out.

While this number is not particularly large, it is obviously large enough to make the activity a profitable and worthwhile one for the scammers.

A couple of years ago, binary options were all the rage scams-wise, but eventually, this scamming-avenue got abused to such a degree that regulatory authorities finally cracked down on it.

Obviously though, the shutting down of binary options hasn’t left creative scammers without a tool to exploit. In fact, they now seem to be very comfortable with the above detailed model too. As long as there’s online trading out there, they will produce all the “profits” and “proof” their victims need to see, to agree to getting fleeced.

How can you fend off such fraud though?

First off: do not be gullible. Force yourself to accept the fact that if something looks too good to be true, it most certainly is just that. Use reason. Someone offering you 300-400% returns on your investment within a couple of weeks (or even months) just cannot be real.

Develop of habit of swatting away all social media-borne investment “opportunities”. This channel has indeed been saturated by scams.

Always check the registry of your local financial regulator (such as the FCA, cysec, FSCA) to see whether the entity offering you the “deal” is indeed an authorized one. This goes for individuals, as well as firms. Needless to say, scammers are not registered with these regulators.

Many such financial authorities go above and beyond simply providing a list of authorized entities: they have offender lists set up as well, where you’re most likely to locate that hot girl off instagram who’s just offered to solve all your financial problems, for free.

Be proactive and seek advice before you make your decision. Some national financial authorities have hotlines set up, through which would-be scam victims can seek assistance, before any monetary loss occurs.

Last, but not least, make sure to report the scammer you may have happened upon, to help out others who may – in turn – also fall for the dubious deals peddled by these online swindlers.

Conclusion

Though they have been all the rage for some time now, instagram scams are relatively easy to spot and ultimately: to avoid.

Just bear in mind that if it looks too good to be true, it definitely IS.

Also: never even consider handing anyone any money for investment purposes without having papers signed, background checks conducted, terms and conditions understood and guarantees provided.

Do you know of any social media accounts like the above mentioned? Please post a comment about them to help others avoid being scammed. Thank you.

About the author : jay hawk

Jay has a long history as a freelancer writer and a background in the financial markets. Starting out in the banking industry in the early eighties. He actively manages trading accounts and write technical and fundamental market analyses. He also test trading platforms and write forex broker reviews.

How to avoid forex trading scams in 2021

Forex markets trade trillions of dollars a day. Traders around the globe are always looking for the best broker to trade forex, cfds, binary options, stocks, cryptocurrencies, etc. With new forex brokers popping up constantly, determining the legitimacy of a broker can be a real challenge. As a consumer, it is vital to research a company before depositing money to trade. At forexbrokers.Com, it’s our mission to assist you as much as possible with that research.

Most trusted forex brokers comparison

Taken from our forex broker comparison tool, here's a comparison of the must trusted forex brokers.

Feature	IG visit site	swissquote	CMC markets	saxo bank visit site
trust score	99	99	99	99
year founded	1974	1996	1989	1992
publicly traded (listed)	yes	yes	yes	no
bank	yes	yes	no	yes
tier-1 licenses	6	4	4	6
tier-2 licenses	3	1	2	1
tier-3 licenses	1	0	0	0
authorised in the european union	yes	yes	yes	yes

Questions to ask to avoid a forex trading scam

Is the broker regulated?

If regulated, how trustworthy is the regulatory body?

Is the broker offering profits or rewards for opening an account?

Is the broker offering a cash bonus for opening an account?

Is the broker offering automatic trades or signals to guarantee profits?

Is any credible information about the company included on its website, such as company history, financials, headquarters' address, or similar?

If awards are cited, can I verify their authenticity?

If a big corporate sponsorship is promoted (e.G. Athlete sponsorship), am I doing my due dilligence to ensure the company can be trusted?

1) is the broker regulated?

Unregulated brokers do not have to report to a governing body. This means that if they scam you in any way, whether it be “glitches” or “malfunctions” causing sever slippage in their system, or you go to make a withdrawal and they don’t process it (steal your money), you are out of luck. Beyond posting a bad review online, there is little you can do because these brokers have no legal authority to answer to.

How do I check if a broker is regulated? The easiest way to check a broker’s registration is to look for it at the bottom of the website. The picture below is the bottom of 12trader, a broker we recommend avoiding. You’ll notice that nowhere in this picture is a regulatory body mentioned. The “about us” pages on the site link to an account login prompt. Nowhere on the site is there any mention of regulation or company history. All of these warning signs should make you cautious.

Now let’s look at the bottom of the homepage of city index, a trusted and regulated broker.

You will notice 1) the company specifically warns of the risks involved in trading cfds, 2) the company is registered in england and wales and has posted an address, and 3) the company is authorized and regulated by the financial conduct authority, and has posted a registration number.

Conclusion: A regulated broker is required to include proper risk disclaimers and regulatory information at the bottom of all their website pages. To make it easy for investors, forexbrokers.Com includes a trust score for each broker, which assesses overall trustworthiness based on where the broker is regulated and its history as a firm.

2) if regulated, how trustworthy is the regulatory body?

Some scam brokers claim to be regulated and registered by a governing body that does not monitor or regulate forex companies.

For example, let’s look at evolve markets.

The disclosures at the bottom of the homepage give the appearance of a regulated broker. There is a warning of the risks of trading cfds, and there is a legal section. Upon further examination of the legal section, you’ll notice that while the firm is registered as an international broker company in st. Vincent & the grenadines, it is not regulated.

This statement from st. Vincent & the grenadines shows there is a warning against false claims of registration or license.

How do I know what regulatory bodies are legitimate?

Forex brokers that are regulated in a major hub are always more trustworthy. Brokers in emerging hubs can also be trustworthy, but caution is warranted. Based on our annual study of regulatory trustworthiness, here is a list of the regulatory bodies we track and how trustworthy each one is:

FCA regulated – financial conduct authority – united kingdom – (great)

Cysec regulated – cyprus securities & exchange commission – cyprus (OK)

ASIC regulated – australian securities & investment commission – australia (good)

SFC authorized – securities futures commission – hong kong (good)

MAS authorized – monetary authority of singapore – singapore (good)

FSA authorized – financial services agency – japan (good)

IIROC authorized – investment industry regulatory organization of canada – canada (good)

FINMA authorized – swiss financial market supervisory authority – switzerland (good)

FMA authorized – financial markets authority – new zealand (OK)

Conclusion: double check the authority of the governing body that regulates the broker you are looking at. You can go to the website of the governing body to search for the registration number and verify its legitimacy. To help investors find a trusted broker where they live, we have created country-specific forex broker guides.

3) is the broker offering profits or rewards for opening an account?

Scam brokers often make claims such as “make $50 a day from a $250 investment” or “make 80% returns on profit signals” or “96% success rate.” these claims are a scam, regardless of whether they are being made for forex, cfds, or binary options. Forex brokers should not promise returns at all, small or large. Simply put, if a broker is promising to make you money, it is a scam. Other common scam practices include advertising pictures of expensive cars that are given away to lucky investors.

This wikipedia page on binary options does a great job of summarizing risks related to binary options:

"many binary option "brokers" have been exposed as fraudulent operations. In those cases, there is no real brokerage; the customer is betting against the broker, who is acting as a bucket shop. Manipulation of price data to cause customers to lose is common. Withdrawals are regularly stalled or refused by such operations; if a client has good reason to expect payment, the operator will simply stop taking their phone calls. Though binary options sometimes trade on a regulated exchange, they are generally unregulated, trading on the internet, and prone to fraud."

Conclusion: if a binary options or forex broker promises you big returns on your money, this is a clear sign of a scam. You will not make $100,000 on a mega-trade; you will not make a 96% profit in 30 seconds; and you will not win a $40,000 car by depositing $2,000. Save your money and STAY AWAY.

4) is the broker offering a cash bonus for opening an account?

When a broker offers an abnormally high cash bonus, is not regulated, and does not show offer details for the bonus, then you are likely dealing with a scam broker. For example, 1000extra hints at a bonus of $1,000 with their vague promotional offer. If you click around trying to gather more information you are redirected to sign up for an account.

1000extra is not regulated, has minimal information about the company, and has scam reports across the web.

Conclusion: in most regulated regions around the world, promotional bonuses for opening a new account are not allowed. The two exceptions are the united states, which is for US citizens only, and asia.

5) is the broker offering automatic trades or signals to guarantee profits? Continue reading

About the author: steven hatzakis steven hatzakis is the global director of research for forexbrokers.Com. Steven previously served as an editor for finance magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.

Trading cfds, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading cfds with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how cfds, FX, and cryptocurrencies work. All data was obtained from a published website as of 12/14/2020 and is believed to be accurate, but is not guaranteed. The forexbrokers.Com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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IG - 76% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you can afford to take the high risk of losing your money.

Advertiser disclosure: forexbrokers.Com helps investors across the globe by spending over 1,000 hours each year testing and researching online brokers. How do we make money? Our partners compensate us through paid advertising. While partners may pay to provide offers or be featured, e.G. Exclusive offers, they cannot pay to alter our recommendations, advice, ratings, or any other content throughout the site. Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data. Here is a list of our partners.

Disclaimer: it is our organization's primary mission to provide reviews, commentary, and analysis that are unbiased and objective. While forexbrokers.Com has some data verified by industry participants, it can vary from time to time. Operating as an online business, this site may be compensated through third party advertisers. Our receipt of such compensation shall not be construed as an endorsement or recommendation by forexbrokers.Com, nor shall it bias our reviews, analysis, and opinions. Please see our general disclaimers for more information.

27 best forex traders to follow on instagram – (reviewed) 2021

Kevin systrom and mike krieger founded instagram in 2010. Since then, it has quickly risen to become one of the most used social media platforms across the globe with more than 1 billion users.

Instagram is easily accessible and an account can be opened in just a few hassle-free steps. Basically, anyone with a smart device, internet access and an email address or phone number can open an account.

There are several advantages when using instagram. As with most social media apps, users can follow people, groups or businesses that sparks their interest. Shared photos and videos can be shared, liked and commented on a user’s home page.

Stories can also be shared for 24 hours, after which it expires. Private, direct messaging is supported, which is a great opportunity to keep contact with friends and family at no extra costs.

As this visual platform is perfect for sharing videos and images with texts, it gives ample opportunities for individuals, such as forex traders, to advertise or share their trading strategies, tips, analysis and insights into the world of forex.

By following these traders, one can potentially learn a great deal on how to become successful at forex trading. Accessing the forex markets and opening an account with a broker is just as easy as opening an account on instagram.

Although there are thousands of forex traders advertising huge profits, luxurious lifestyles and offer advise at a certain price, followers should be careful as several of these could be scammers and will disappear as soon as money for so-called courses or advice are paid.

Below is a list of some of the best forex traders to follow on instagram.

Stanley druckenmiller

@stanley.Druckenmiller

Stanley druckenmiller is well-known in the forex community for being one of the best in this field.

Druckenmiller graduated in 1975 after studying economics and english at bowdoin college. In 1977 he became a stock analyst at pittsburgh national bank and from there, quickly ascended to head of the equity research group.

His very successful history includes establishing duquesne capital management with just 1 million dollars, being named by forbes as one of the richest people in america as well as obtaining a powerful position at quantum funds.

By following @stanley.Druckenmiller, potential traders can view regular posts of successes, sounds strategies and good insights.

George soros

@georgesoros

George soros is a familiar name in the financial community. He is chair of soros fund management LLC and founder of the open society foundations.

Soros was born august 12, 1930 in hungary. Through the years he experienced many losses and achieved great successes. Today, he is a known billionaire and philanthropist with a net worth of approximately US dollar 8.3 billion.

Soros has gone from immigrant to hedge fund manager by writing to managing directors in merchant banks across london, where he eventually got a job.

Soros studied at the london school of economics, where he was first awarded a bachelor’s, obtained a master’s, and later on a doctor of philosophy from university of london.

Soros moved to new york city in 1954. It is here where his started and he specializing in stocks. In 1969 he founded double eagle (now known as quantum fund) and a year later he founded soros fund management.

Samuel leach

@samuelandcotrading

Samuel leach is an entrepreneur and financial guru. He is the author of formula for success, a self-help book to assist readers in unlocking potential, analyse patterns and uncovering unique, hidden talents.

He started trading forex when he was 18 and soon after, he founded samuel & co. Trading in 2012. Samuel & co. Trading has reached thousands of customers across more that 60 countries.

Leach’s personal handle on instagram, @samuelleach, has nearly 380 thousand followers. He has 132 thousand subscribers on his youtube channel and his popular videos reach millions.

@samuelandcotrading, the official account to follow for forex trading, has more than 115 thousand followers. Here, followers have access to important info such as factors of trading, common mistakes made by beginner traders, popular positions and many more.

Steven hart

@thetradingchannel

Steven hart, CEO of the trading channel, offers sound trading advice to followers. With nearly half a million subscribers on youtube and 28 thousand followers on instagram, the trading channel is a popular choice for many.

It ranks as one of the best trading channels on youtube and offers free beginners’ courses, advice on indicators and charts, as well as dynamic strategies and how to use it.

Several IGTV videos on instagram offers free advice on how to trade key levels, secrets to making profits and warnings about scams.

Thestreet.Com

Thestreet.Com is founded by public figure and face of CNBC’s mad money, jim cramer.

Cramer graduated with a bachelor of arts in government from harvard in 1977. He started working as a reported and achieved great success in his career. Soon after he started investing and started a hedge fund, cramer & co.

Thestreet.Com breaks down information barriers and assist individuals, investors and organizations to succeed financially with minimum risks.

This is done by providing information on market analysis, trading data, financial news, trading styles and insights into economical changes.

Thrstreet.Com posts interesting facts about market news, remote internships, live chats etc.

Trade_simple_fx

With nearly 57 thousand followers, @trade_simple_fx offers courses at great discounts. Courses automatically includes a lifetime of membership access, more than lessons via video, 121 mentorship sessions, private chat support, live trading sessions and many more.

Here, traders will have a proper introduction to the world of forex, learn how to navigate platforms, use trading tools, master trend trading as well as learn the psychology of trading, habits and other fundamentals.

Followers also have access to facebook reviews, analysis, youtube videos and testimonials.

Larry hite

@larrydhite

Lawrence D. Hite is an investment expert, entrepreneur and well versed in forex trading. His book, the rule: how I beat the odds in the markets and in life – and how you can too, was a bestseller on porchlight books, LA times, wall street journal.

Hite’s risk management philosophy and trading strategy has earned him an entire chapter dedicated to him by jack schwager in the book market wizards.

In the early 1960s, hite became a stockbroker and almost 20 years later he founded mint investments. In terms of asset under management, it quickly became the world’s most successful commodity trading advisor. In 2000 he founded hite capital investments.

Alexander elder

@dr._a_elder

Alexander elder, M.D., is a financial trader, founder of spiketrade.Com and author of several very popular trading book.

Elder’s first book was published in 1993 and became an international best seller. Trading for a living: psychology, trading tactics, money management is still a favourite to this day and has been translated into several languages in order to use it in education across the globe.

Come into my trading room: A complete guide to trading was named book of the year in 2002 by barron.

Alexander elder is also author of benefit from price declines, as well as entries & exits: visits to sixteen trading rooms, the new sell & sell short: how to take profits, cut losses and rubles to dollars — a book about the transformation of russia.

Born in leningrad, russia, elder grew up in estonia and started medical school at the young age of 16. By 23 he was a doctor on a soviet ship in africa, where he later received political asylum in the united states.

He moved to new york city where he worked as a psychiatrist and taught at columbia university, which gave him useful insight and made him a very successful trader.

Liz ann sonders

@lizannsondersfx

Liz ann sonders is a fund manager, portfolio manager and chief investment strategist at charles schwab & co., inc. She has more than 45 thousand followers in instagram and offers very useful information on trades and market news.

Sonders studied at fordham university gabelli school of business where she received her M.B.A. In finance as well as a received her B.A. In economics and political science from the university of delaware.

She and has been listed as one of wall street’s power 30, named one of 100 most influential women in finance and named 50 top women in wealth by several sources.

Furthermore, she is a regular guest on CNMC, fox business news and wall street week programmes and used to be a regular panellist and guest host on PBS’s original wall street week with louis rukeyser.

Sonders has been featured in bloomberg, the new york times and identified as one of the 25 most powerful women in finance and in the top 25 most important people in and around the financial advisory profession.

Millionaire_mentor

@millionaire_mentor is an interesting account to follow on instagram. It not only offers trading advice to its 6.7 million followers, but also lifestyle advice in general.

This account provides tiktok videos, mentor tips, how to give back to your community, updated press information, diet tips and several other useful facts.

This account is all about motivating and inspiring its followers, empowering leaders and teaching individuals how to start their own business.

Hither mann

@hithermann

Hither mann is well liked on instagram with more than 143 thousand followers. She is the founder of @fortuneacademy.Official and inspires traders across the globe when looking at the great feedback of her followers.

This account offers fast track online forex courses, 1-on-1 mentorship, mindset coaching, tips on how to invest in cryptocurrencies with little funding as well as step by step training on how to get started.

Her forex course was voted #1 in the world by yahoo! Finance.

Paul tudor jones

@jptudorjonesii

@paultudorjones2020

Paul tudor jones, born in 1954, is a well-known hedge fund manager, philanthropist, conservationist and trader.

This billionaire founded an asset management firm, tudor investment corporation, in 1980. In 1987, made a 125.9 percent return after betting on a crash in the united states stock market, which earned him approximately US dollar 100 million.

He founded the robin hood foundation in the late 1980’s, an organization which acts as a relief fund and also focuses on reducing poverty in new york city and its surrounding areas.

Paul tudor jones’s two instagram accounts, @jptudorjonesii and @paultudorjones2020 offers advice, education and inspiration to followers and potential traders.

Josh kuo

@10xtraders

Josh kuo is the creator of @10xtraders, which has 100 thousand followers on instagram. Interested instagram users can also follow josh kuo at his personal handle @josh_kuo, which has more than 92 thousand followers.

@10xtrders provides followers with great trading knowledge such as the top strategies and how to use it, free web classes, information on different types traders and styles, as well as traits of a successful trader.

@french_trader

This entrepreneur and forex trader operates in the united states, france and the united kingdom. 2french_trader has nearly 80 thousand followers and offers 1-on-1 trading mentoring.

Followers of this account has access to a forex book, frequently asked questions, youtube videos, images of a lavish lifestyle and profit information. @french_trader also offers inspirational quotes and advice.

Kiana danial

@investdiva

Kiana danial’s goal on instagram is to help traders take control of their financial future by providing inspiration, education and trading information.

This award-winning wealth management speaker and executive coach has been featured in thestreet, forbes, CNN and the wall street journal.

Awards include best financial education provider at shanghai forex expo as well as the new york business women of influence honorée.

Danial studied electrical engineering, obtained two degrees in electrical engineering and researched on quantum physics, is a regular face on tokyo’s #1 investment TV show and author of invest diva’s guide to making money in forex.

Forex signals

@directforexsignals.Co.Uk

Forex signals, also known by its handle @directforexsinals.Co.Uk on instagram, boasts with more than 133 thousand followers on instagram and 18 thousand members. It’s one of the united kingdom’s top forex traders and founder of #travellingtradersprogramme.

Followers have access to more than 15 live trading setups on a daily basis, as well as podcasts, forex training seminars from across the globe, forex trade information and feedback on profits and successes.

Forex signals offer a combined forex trading experience of more than 50 years. Members receive real-time whatsapp deliveries on daily forex signals, chart analysis and market information, high quality forex signals at low costs and round the clock customer support.

Forexchick

@theforexchick

Forexchick specializes in indices trading and is an analyst for this specific market. She is a US30 platform co-creator and invites followers to join her private mentorship community.

Her posts are filled with inspirational quotes, IGTV videos on how to trade indices, forex training videos, mindset events, proof of profits and several more. This is a popular account with more that 61 thousand followers.

@trade4wealth

@trade4wealth is a very popular educational instagram account where followers can learn from a community of professional traders.

It’s more than 54 thousand followers have access to daily educational posts, stories on trading tips and watchlists, free newsletters and free audio books. It also valuable information on how to get started when wanting to join the forex trading world.

In its posts, it explains what cfds are, how to progress in trading, reveals secret strategies and inspires followers to keep on trying and to not lose hope.

Trade4wealth was founded be amar mandekar as a forex trading academy. He is a highly qualified professional (M.E. In electronics & telecommunication) and has several years of experience in this field.

Trade4wealth’s training programmes are unique as it can be done online and offline, and dedicated online support by mentors is readily available.

Reuben singh

@singhreuben

Reuben singh, the british entrepreneur, was born in 1976. After studying politics, english and business studies, as well as receiving a general certificate of secondary education (GCSE), he opened the retail chain miss attitude.

In 2000, reuben singh launched a contact centre company called alldaypa and in 2018 he became CEO of isher capital, a private equity firm.

This well-known forex trader is also known for being a philanthropist and receiving several awards and honours such as one of the global leaders of tomorrow by the world economic forum and one of the world’s youngest self-made millionaires.

Astrofx

@astroforex

Astrofx is a community of forex traders whose main priority is to help potential traders become successful. Their 135 thousand followers are scattered across the globe and include individuals from south africa, the united kingdom and belgium.

@astroforex provides updated charts and analysis, vlogs (video blogs), workshops and warnings about scammers.

Followers also have an opportunity to win a US dollar 10 000 account when joining the astrofx online course. Existing members are automatically added to this astrofx challenge and all one has to do is share your trading performance with the astrofx team.

An additional 30% off will be given to some members in this challenge.

FX goat

The @fxgoat instagram account is filled with pictures of luxurious lifestyles, tips on how to become a successful forex trader and testimonials from its nearly 39 thousand followers.

FX goat is a world leader in forex education, signal providers and online courses. It offers more than just technical and educational information, it also offers 1-on-1, personalized sessions, market insights, real-time examples and practical information.

Its currencies course guarantees 100% money back if unsuccessful and its website provides positive feedback from customers.

@fxgoat offers discounts on mentorship sessions. Its zoom hosting events, that are offered three times a week, covers weekly analysis and market approach, forex education as well as different market sessions.

Jabulani ndlovu

@cashflowngcobo

Jabulani ndlovu is into science, technology and engineering. This retired forex coach from johannesburg, south africa, has 375 thousand followers on instagram.

This entrepreneur from durban grew up in a poverty-stricken environment. At just 27 years old, he is one of south africa’s youngest millionaires.

He started trading financial markets early on. He is founder and CEO of cashflow properties, a foreign trading investment. One of ngcobo’s main focuses is motivational speaker to inspire others to become as successful as he is.

@cashflowngcobo posts regular photos of a lavish lifestyle and offers positive feedback, advise regarding forex trading and highlights. Analysis of account statistics shows a 93.3% popularity and more than seven thousand likes per post on average.

Austin netzley

Austin netzley is an entrepreneur with a mission to help others succeed in becoming successful. His instagram handle, @netzley has thousands of followers and offers great inspiration on succeeding, as well as blogs and podcasts.

He is the founder of 2X, a company where a team of professionals specialize in assisting others succeed in businesses that scale from 6 to 8 figures by implementing proven strategies and systems.

Austin netzley is also an author of several books such as simplify your business, scale faster than ever, from 6 to 7 figures, as well as gain your time back.

Netzley made his first fortune while still in his early twenties and although still young, he gained important knowledge in the first few years, such as how to tell a good trading system from a bad one and how to get started on automated trading.

Trading experts

@tradingexperts

Trading experts is a dedicated finance team with more than 88 thousand followers on its instagram handle @tradingexperts.

Great advice on deals, such as low deals on stocks etc, are provided, as well as life lessons, significant factors to succeed, weekly chart talks, access to monthly profits and reviews.

Trading experts’ website provide free newsletters, trading blogs, video lessons and programmes.

A free 90-day trial for beginner traders offers a step by step programme as well as a personal mentor to help each step of the way, a great way to learn trading secrets and strategies.

Walter peters

@nakedforexnow

Walter peters is the author of naked forex: high-probability techniques for trading without indicators. This popular book gives readers insights on how to effectively trade without indicators, whereas most traders use technical analysis for options, stocks and futures.

This highly effective way of trading without indicators is called “naked trading” and relies on methods used from the beginning, before trading calculators and computers were used.

Walter peters is also a popular webinar speaker on fxstreet and has more than 20 years’ experience in trading on the forex markets.

He has been featured in tradingmarkets.Com, yahoo! Finance, fxstreet and the wall street journal. Walter peters is a graduate minor in statistics and holds a phd in experimental psychology.

Fxlifestyle – forex signals

@fxlifestyleforex

With 44.7 thousand followers, @fxlifestyleforex is another highly popular instagram account to follow. Posts are mostly about how this young millionaire’s life was changed when he started trading forex and how much is spent on his luxurious lifestyle.

He offers followers a chance to learn his strategies in his forex course and allows copy trades with his forex signals. This day trader claims he helps individuals earn more than US dollar 10 000 per week.

The fxlifestyle website provides information on the nest forex brokers, PRO forex software, forex trading courses and how to understand forex trading signals. It also offers more than 30 free forex strategies. It has more than 53 thousand members and a 93.4% win rate.

Lydia idem

@faithmight

Lydia idem; trader, investor and advisor; is well-known in the financial community and has more than 24 years experience in the currency and equity markets.

She is co-author of the book the stocktwits edge and trading: the best of the best and founder of FM capital group in 2014 and has been featured in yahoo! Finance, FORBES magazine and cnnmoney, just to name a few.

Idem is also known for being named one of the top women in finance to follow.

Frequently asked questions

How do I open an instagram account?

Opening an instagram account is easy and free. Just download the instagram app from either the app store (iphone) or google play store (android), depending on your smart device. Open the app once it is installed.

Sign up with your preferred method, either by using your email address or phone number with the confirmation code sent. Next, create a username and password. Fill out your details in your profile. Users should be at least 13 years old.

How safe is it to use instagram?

Although there are some possible dangers when using instagram, such as fake accounts, hacking and scams, this can be easily avoided by setting your account to private, blocking unwanted followers and making sure the information provided are legit.

Are all forex traders on instagram legit?

Although the forex market is a legitimate market that trades approximately US dollar 5 trillion US a day, there are lots of scams posing as forex traders that offer help and education at a price.

In fact, a large part of people claiming to be legit forex traders on instagram are scammers. These scammers pose and fake a luxurious lifestyle to reel in unsuspected traders who are willing to pay for education and tips, and then disappear with your money.

Financial authorities warn people about traders appearing to be living the high life and caution should be taken when paying any money to traders.

How do I tell which forex traders are legit and which ones are scammers?

Search for forex traders that have a long track record, good reviews, lots of followers and post balanced information on what to expect and what the reality of forex trading is, the positives and negative points.

Instagram forex traders legit

List with government grants for individuals, protect your customers’ data with SSL certificates, amazon brushing: how to tell if amazon reviews are real, how to tell if someone is scamming you online.

Currency pairs on any day, there are plenty of currency pairs getting traded. Ease of transaction A legit forex broker allows you to access your money easily. The concept that sells this ponzi scheme is that the investors of yesterday get paid back by the investors of tomorrow. I have made numerous requests to withdraw money but still have not been paid my money yet. Tight spreads mean you can easily enter and exit the market, and as such, a broker will reap maximum profits on wider spreads. They get paid for luring new people into the system.

Beware of the netflix cancellation scam email, with many variations. As forex markets promise to give you an incredible, it's a complicated industry, and even experienced people fall victim to intricate. ----

Traders around the globe are always looking for the best broker to trade forex, cfds, binary options, stocks, cryptocurrencies, etc. Other expenses that you might incur include fees charged during any fund transfers (deposits and withdrawals) and additional costs related to your bank account. Some brokers make these processes seamless by offering more access options. I'd say that 95% of everything forex-related that you see on social media is a scam. Don't be. Make your family and friends aware of this scam by sharing it on social media using the buttons provided. 50% deposit bonus, real contest 1st prize luxury car BMW X5 M, copy trading, trade&win. If you continue to use this site we will assume that you are happy with it. If they don't have a legitimate contact page with phone numbers and emails, that's another red flag.

He is still making his money from the difference in the spread but spreads are now regulated and only smaller spreads are permitted. These commissions found themselves in the broker's pocket.

Reputable forex brokers use the money you deposit to trade, and once they make their profit, what you earn should be easy to withdraw. I opened an account with forex today? Fxgears.Com hosts and moderates our chatroom, and has developed such tools as the chart bot you'll find available in chat. The foreign exchange (forex) market is huge, with an average daily trading volume of more than $5 trillion, including currency futures and options. The initial amount determines which account you can create. The point spreads differ widely among brokers and differ between currency pairs. Some have over a thousand 'followers' losing money as the fraud is advertised as a get rich quick scheme. A good broker is only as effective as their support system. An unregulated financial company trading off-exchange forex, foreign currency futures and options contracts with retail customers is illicit and may be a fraud or scam. I deposited money into my trading account with http://www.23traders.Com. However, often forex traders don't have a great understanding of how forex markets work and what a forex broker does exactly, which leaves the latter a lot of room to scam the trader. Search reviews featuring the broker, or the system, or the signal seller. According to dailyforex.Com (a great team of analysts and researchers who watch the market throughout the day to provide unique perspectives and helpful analysis on forex trading), "the point spread between the bid and ask basically reflects the commission of a back and forth transaction processed through a broker. A one-time instagram trader who goes by the handle 10kjunes released a rap track called trading life, which includes the line, “I be selling stocks and then I buy it back, I … with the advancement of technology, there are many well-run online scams on social media when it comes to forex. These factors should help any trader looking to invest in forex: regulatory compliance before settling on a broker to trade with, it is important to know who regulates them. Forex promoters often lure investors into scams with various assurances, including their ability to predict an increase in currency prices and claims of high returns with low risk. When it comes to the forex scam, the same team at dailyforex.Com explains: "commingling funds gives forex brokers the opportunity to pocket much of an investor's money without the client ever noticing any discrepancy. I personally like him since he uploads a video everyday just talking about market insight and what he is seeing. His profile is full of useful chart analyses and educational videos on high-frequency trading. Check if your broker offers the currencies you would like to trade. People are signed up to a trading platform through so-called 'companies' and are asked to deposit their hard-earned money to deposit $400 (or EURO). There are quite a few variations of the forex fraud. Press question mark to learn the rest of the keyboard shortcuts. Welcome to fxgears.Com's reddit forex trading community! It is also vital to know if your broker offers a demo account with which you can trade risk-free before you go live. It's a complicated industry, and even experienced people fall victim to intricate trading schemes. The first one would be when you are guaranteed a profit.

When it comes to the forex scam, the same team at, dailyforex.Com explains: "commingling funds gives forex brokers the opportunity to pocket much of an investor's money without the client ever noticing any discrepancy. However, there are still offshore retail forex brokers who are not regulated by the CFTC, NFA or their nation of origin and it's quite easy for these firms to pack up and disappear with the money when confronted with investigations of irregularities". Is boss capital n magnums options r scams or they real or fake web sites?

Just like the robots, certain 'signal sellers' claim to sell you information on which trades you should make in order to get rich. I’m not talking about the obvious scammers you see on your instagram feed such as IML, broker commission marketers, or any of the likes. I see his videos every day as well and I like his approach. Some brokers will let you open accounts with as little as $50. The euro, dollar, yen, and pound are the most popular currency pairs.

Press J to jump to the feed. And I’m in the USA so they offer brokers that accommodate to me.

However, a trader can choose which pairs they prefer to trade. Instagram has seen an explosion of flashy forex traders flogging signals and copy-trading schemes as pictures of them posing with sports cars and luxury gear give an illusion of trading success.

A reliable platform should be highly responsive and easy to navigate, and it should have the necessary tools that allow traders to react to the market in real time. Are forex traders on instagram legit or scam showing their luxury cars and huge forex trading profits to their fans or followers LOL.

Spreads are the difference between the ask and the bid price. Here you can converse about trading ideas, strategies, trading psychology, and nearly everything in between!

Instagram forex traders legit

Home forex advertising sponsored post versus free expression:. 50 pips is one of the most prolific FX traders on twitter and very his instagram account is always interesting and also worth following.Forexcopy system by instaforexforex trading trading (@trade_profit) • instagram photos and videos. Followers, 30 following, instagram forex traders legit 16 stock trading courses vancouver posts see instagram photos and videos from forex billionaire club.Forex signals & fx trading | �� @goldenoptiontrading+12.

The most popular traders on instagram best forex instagram accounts to follow 1

Best forex traders online energiemanagement darmstadt!By and twitter can't be beat for finding good, fast charts that tell a like ivan, this stock trader delivers wisecrackery on a grand scale, and you'll be smarter about money if pcb design job from home you follow these twitter, facebook and instagram lpn work from home jobs in ohio suckers forex trading journal xls who are greedy and those who are instagram forex traders legit desperate. FXLIFESTYLE (@fxlifestyleceo)the few forex traders who are billionaire follow simple rules like rich.Women in forex.

I'm 33 years young, full time FX trader and entrepreneur.

Forex billionaire club instagram – fake it till you make it:

An exchange traded fund (etf) is quizlet

To do with the government shutdown, the federal reserve, and trade relations with china.Instagram auto follow, instagram auto unfollow, instagram automation.

How to become a professional forex trader.

Great profits at low risk with no work.

If there was the case of handling your money that would be illegal.

Tim sykes forex tycoon ‒ tycoon forex robot review advantages of trading with the best forex broker exnesstrade forex and gold with ACM gold the leaders in forex trading in south africa.

Observations from global forex broker FXCM are worth your while. Day trade and then see them following some bullshit newsletter or some coach with a fudged track record.Is instaforex a good forex broker?

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FOREX ganhar dinheiro deixando o pc ligado 2019 influencers instagram forex traders legit CTE (christopher) 2018-07-05 09:44:35 UTC #4 @danny well done for bringing this up.

Fxdailyreport.Com

The forex market transacts enormous amounts of money every day. With possible trillions moving in and out of the market every trading day, the forex market offers a great profit potential. However, where there is profit, there is also the potential for loss. In this case, the loss could begin with choosing the wrong broker. These factors should help any trader looking to invest in forex:

Regulatory compliance
before settling on a broker to trade with, it is important to know who regulates them. If a broker operates in a number of countries, they must be regulated by the authority mandated to oversee financial institutions in those states. For instance, if a broker is based in australia and operates in the US and UK, they must be regulated by the regulatory bodies of those three countries (ASIC, NFA and CFTC, and FCA and PRA respectively).

Regulatory bodies make sure that the broker you want to invest with operates within the financial laws of the host country. They also provide consumer security to traders by lending legitimacy to a broker.

Top 10 legit forex brokers

info	bonus	open account
min deposit: $5 spread: from 0.2 pips leverage: 500:1 regulation: FSA (saint vincent and the grenadines), cysec	50% deposit bonus, real contest 1st prize luxury car BMW X5 M, copy trading, trade&win.	Visit broker
min deposit: $1 spread: from 0 pips leverage: 3000:1 regulation: cysec, IFSC	$100 no-deposit bonus, 100% deposit bonus	visit broker
min deposit: $5 spread: from 0 pips leverage: 888:1 “*this leverage does not apply to all the entities of XM group.” regulation: ASIC, cysec, IFSC belize	“50% +20% deposit bonus up to $5,000, loyalty program bonus “*clients registered under the EU regulated entity of the group are not eligible for the bonus and the loyalty program”	visit broker
min deposit: $1 spread: from 0 pips leverage: 2000:1 regulation: FCA UK, cysec, FSP, bafin, CRFIN	35% of the account deposit	visit broker
min deposit: $100 spread: starting 0 pips leverage: up to 400:1 regulation: FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA	visit broker
min deposit: $300 spread: floating, from 0 pips leverage: 500:1 regulation: FCA UK reference number 579202	visit broker
min deposit: $200 spread: starting 0 pips leverage: 500:1 regulation: ASIC australia, FCA UK	visit broker
min deposit: no minimum deposit spread: 1.2 pips leverage: 50:1 regulation: CFTC, NFA, FCA, MAS, ASIC, IIROC	visit broker
min deposit: $10 spread: leverage: regulation: cysec	-	visit broker
min deposit: $200 spread: from 3 pips leverage: 400:1 regulation: NFA, FCA, cysec	visit broker

Data safety
how safe is your most valuable data? Currently, data has become a high-value asset to third parties. When you get into forex, you must submit sensitive user information to your broker. This includes personal and financial information that could be sold off to data banks if it got into the wrong hands. Standard data safety measures involve using SSL, or two-step verification every time you log on to a broker’s site.

Fees
any fees incurred are the standard cost of doing business. However, these expenses could affect your profits, especially if they are hidden. Still, your broker has to charge. Most brokers will opt to make their profit from spreads. Spreads are the difference between the ask and the bid price. Tight spreads mean you can easily enter and exit the market, and as such, a broker will reap maximum profits on wider spreads. Tight spreads are common in higher trading currency pairs such as the dollar/euro pair or dollar/pound pair. Highly volatile pairs will have wider spreads.

Other expenses that you might incur include fees charged during any fund transfers (deposits and withdrawals) and additional costs related to your bank account. It is, therefore imperative that you have another party look at the fee clause in your broker-trader contract to make sure you have full knowledge.

Platforms and software
A trading platform serves as your gateway to the market. A reliable platform should be highly responsive and easy to navigate, and it should have the necessary tools that allow traders to react to the market in real time. It is common for brokers to have a custom-made trading platform. However, if your broker does not have their own software, they most likely use more common trading platforms such as the metatrader 4 (MT4) or metatrader 5 (MT5).

Each platform has several features that give them an edge over competitor platforms. One of the common features of an excellent platform is the ability to run on different devices and their compatibility with various operating systems. Some platforms come with inbuilt strategies that you can use to plan your trades. Additionally, you can develop your own strategies and save them into the platform.

To expand your options, some platforms let you communicate with other traders to chart strategies or to learn from more experienced traders.

Ease of transaction
A legit forex broker allows you to access your money easily. Reputable forex brokers use the money you deposit to trade, and once they make their profit, what you earn should be easy to withdraw. Some brokers make these processes seamless by offering more access options. For instance, you can deposit or withdraw your money through paypal, debit, and credit as well as direct wire transfers.

Currency pairs
on any day, there are plenty of currency pairs getting traded. A legit broker should at least offer the major pairs. The euro, dollar, yen, and pound are the most popular currency pairs.
However, a trader can choose which pairs they prefer to trade. More established brokers tend to have a broader range of currency pairs. Check if your broker offers the currencies you would like to trade.

Accounts
A good forex broker allows traders to open an account of their choice. The initial amount determines which account you can create. Some brokers will let you open accounts with as little as $50. However, such accounts are considered risky because of the lack of flexibility with open positions. The required amount to open a standard account is about $10,000. In some cases, a broker will offer exclusive accounts that require initial capital of up to $20,000. These types of accounts usually have VIP benefits such as fewer fees and premium tools. In islamic countries, brokers may offer accounts that adhere to sharia law. These accounts do not accrue interest.

It is also vital to know if your broker offers a demo account with which you can trade risk-free before you go live. Demo accounts don’t require any financial commitment and are perfect for beginners looking to get hands-on market experience.

Customer services
forex trading is a 24-hour business rife with a number of issues that require immediate assistance. A good broker is only as effective as their support system. Fortunately, most legit forex brokers have customer service that allows you to speak to agents, lodge ticketed complains and receive technical support on various platforms. Timely support ensures that you get real-time help with sensitive information when you need it.

Broker type
the type of broker you choose in this case is purely based on profit. Electronic communication network brokers (ECN brokers) have the edge over dealing desk brokers (DD) brokers since they offer better spreads, translating to better profits for a trader. ECN brokers match trades between other traders, unlike DD brokers who might have to trade against their own clients.

Additional services
other than the basics, a good forex broker could sweeten the deal for you by offering in-house services such as tax statement preparation, up to date market news, additional expert analysis and occasional classes that help you better your skill as a trader.

So, let's see, what we have: compare the best are forex traders on instagram legit for 2021. Read our are forex traders on instagram legit guide. Our pros compare and list the top trading are forex traders on instagram legit. At are forex traders on instagram legit