The Possibility of Defrauding in Forex

It is very common for you to come across “fraud” in forex. Unauthorized brokerage firms, which we can call companies under the stairs, often appear in internet and social media advertisements. Unfortunately, many people who have just started with articles such as “deposit $ 100, get $ 250 bonus”, “get rich in 1 night”, “guaranteed money making system” etc. have experienced losing material and moral losses to these systems. Regardless of individual or legal person scams, there are all kinds of dangers that can destroy your money. These possibilities will be multifaceted, and protection from these possibilities is based on a single measure. The precaution is that you pay attention to the fact that the institution you are working in is a licensed intermediary institution.

Intermediary institutions originating outside Turkey, if you’re overseas aided this process; You should be sure that foreign brokerage houses keep their company and customer accounts in separate bank accounts. The CMB has taken leading measures in this regard, and even if it is a broadly authorized brokerage firm, it keeps official companies, customers and company accounts separate in our country. Your money is under the guarantee of Takasbank and even if your brokerage firm goes bankrupt, you can withdraw your money from Takasbank.

Lastly, you should not hand over your money to every person who says I am a broker in the market, you should pay attention to the contract you make while giving the right to management, and you should have the right to withdraw money. Remember, although Forex is a platform where very high earnings are realized, it also contains very high risks. Instead of the expression “Be rich in 1 night”, you should prefer stable and realistic achievements.

Author: Iraz Sümer