The withdrawal of transactions on the interbank in the Forex market is the main indicator that it is possible to work with this broker. Frauds simply skillfully speculate prices on the assets they offer, and the transactions themselves never go beyond the accounts of such a “broker”. Let’s talk about it in more detail.
A Little About The Phenomenon
Each client makes a deal with another person. You can’t see who he is. But in order to observe the fruits of their labors there is a glass. It exists to test the integrity of brokers. If nothing has changed since the transaction was made, it is a signal that the broker is unscrupulous. And the profits he pays out of his own pocket. This signals such things:
1. Deception. It seems to you that the profit is paid by one of the bank through which the transaction went.
2. You entered into a dispute rather than a real bid. And the advantages here are on the side of the company you made the deal with. It is also a fact that your money with a broker, which determines the rules and set their own. In addition, the broker can simply write incorrect quotes.
But the glass only exists on the stock exchange. As for Forex, a glass is likely not to be. Such a specificity that the counterparty with whom the transaction is made is a commercial secret.
But why? As a rule, the broker says only that large banks provide liquidity. But he will not name all other market participants. But judge for yourself, he once again reminds of his competitors. It’s terribly unreasonable.
It happens even so, when the broker also does not know the counterparty. One such reason is that he uses the services of aggregators. These are special services that are the guarantor of liquidity, that is, the negotiability of a certain asset into money. The task of the aggregator is to ensure the execution of warrants at the price that is currently the best on the market. For this purpose, such services collect information on demand and supply from different sources.
So, the aggregator’s interest is not to give information about who is executing the warrant. It’s important to him that deals are done and that customers do have a profit.
Some Recommendations For Choosing A Broker
Given the fact that brokers in the Forex market do not provide clients with information about the withdrawal of transactions on the interbank, it is possible to understand which of them can be trusted only indirectly. If the intermediary uses the services of intermediaries, it makes him a good service. But the case of choosing a broker is more subtle, and therefore it is desirable to stick to the following recommendations:
1. Use the services of companies with good experience. The council is banal, but effective. The fact is that scammers rarely keep their projects for a long time. They bring them to a certain point when you can earn the most, and then stop paying. And, often unexpectedly.
2. Immediately choose brokers where the minimum deposit is very small. In this case, there is no chance of losing large sums if you fall for an unscrupulous company.