Many Traders can escape most of the scams mentioned above. Of all Forex scams, however, withdrawal scam is the most prevalent and arguably the hardest to escape. Fraudulent Brokers accept deposits without any hitch, allow their preys to enter trades on their platforms, but when it comes to withdrawal, they then show their true colours.

Withdrawal scam is the most perpetuated Forex scam. Sadly, it is also the hardest to avoid because victims are trapped by being trustful of the Brokers enough to sign up for accounts with them first.

The only way to prevent withdrawal scam, therefore, is to discover fraudulent Brokers from the start. Withdrawals can only be deposited to the original account used to deposit the trading account from. It is imperative to ensure you have the required FICA documents uploaded. It is important to note that Diversit-e Smart Trade College does not accept deposits and or trade obo their Clients.

The company educates and assist their Clients to open real trading accounts at their preferred Broker through which their Clients execute their trades. Clients are in complete control of their deposits and withdrawals. The good news is you do not have to get scammed. Through conscious precautions, you can protect yourself. Some of these are:. Before you choose a Broker to use, you should first conduct diligent research.

If you are resident in the United States, the National Futures Association NFA has a dedicated website, the Background Affiliation Status Information Center BASIC for running background checks on Brokers. This can help you avoid the crooks.

In the course of your research about a Broker, the most vital variable you should look out for is its regulatory status. Is the Broker you want to use regulated? If so, what is the strength of its regulatory agency? For instance, a Forex Broker licensed by the Commodity Futures Trading Commission CFTC of the United States can be considered more credible than one registered with an offshore regulatory body such as the Vanuatu Financial Services Commission.

Registration with offshore regulatory agencies has always been a major concern in anti Forex scam efforts. Because it often serves as a shelter for fraudulent Brokers to perpetuate their scams while still being able to present a posture of legitimacy. Therefore, checking the registration of your prospective Broker with a regulatory agency it is not enough. Additionally, you should also check for the legitimacy of the regulatory agency. Some of the foremost regulatory agencies of the world are:.

When was it established? For how long has it been in business? Does it release its financials from time to time? Who are its executives? What is their credibility?

Moreover, where is its headquarters? Does it have a website? These are vital questions that are worth asking about Brokers you research. The best Broker to use, therefore, is the one that has a website with designated address, customer support service, credible management, and an indication of its regulatory status. Also, awards of excellence won by a Broker for its services is reassuring. In all honesty, the number one reason most Forex Traders fall into scams is the wishful thinking that you can make humongous wealth within a short time with a little amount without adequate knowledge.

That is especially true for exorbitantly charged Forex courses whose authors promote with suspiciously high winning rate.

Think about it; if their claims were true, why would they need to sell their courses? The truth is that usually, those people do not know how to trade. They rather earn by pompously parading and selling their courses and systems. You can avoid falling for them by not being greedy.

Becoming a profitable Forex Trader takes time and patience. You will need to work at it. Entering Forex with a greedy mindset will make you fall for scams. Be warned. This precautionary move is not unconnected to the last one. And that is it. If any scheme is too good to be true, it is. And it will pay you to stay away from it. Prior to using any Forex Broker or signal peddler or taking a Forex course, pay attention to what others are saying about them.

It will not hurt at all if you learn from others so that you can avoid their mistakes. Check online for reviews about Brokers, signal sellers, and professional training offered by self-acclaimed market experts. If they had worked for others, they would most likely work for you, too. Try to talk to them directly, do so to obtain their first-hand views. Most importantly, always verify first the credibility of any Broker or signal seller you want to use or Forex course that you want to take.

The information is for educational purposes only and not financial- and or investment advice. Trading can be very risky. Never trade with money you cannot afford to lose. Always seek the advice of our preferred regulated FSCA Broker and or a regulated FSCA Financial Advisor. Past performance does not guarantee future growth. Consult our preferred Stock Brokers and or a FSCA regulated Broker and or a Financial Advisor before making any investment decisions. Self-trading the capital markets and or stocks involves risk.

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Dirty Lies about Forex Trading Exposed. Dirty Lies about Forex Trading Exposed Report reveals all! Which brings me to the first and most important scam issue:. Unregulated Trading Websites Lacking an international regulatory entity which will monitor and supervise the CFD global market, generated a numerous amount of scam companies which are operating nowadays throughout cyberspace.

Their general mission is: Conducting due diligence, provide necessary licenses to eligible forex brokers to conduct forex trading business. Enforce required adherence to necessary capital requirements.

Combat fraud. Enforce detailed record-keeping and reporting requirements regarding all transactions and related business activities. At this point, you should see a table where you will have an option by the name of GCMT South Africa PTY LTD.

Spread Scam As a retail Trader, you need a Broker to access the Forex market. Signal Scam One Forex scam that has gained grounds in recent years is the scam of signal peddlers. Unsegregated Trading Account Scam Now, retail Forex Traders have more choices than ever.

Withdrawal Scam Many Traders can escape most of the scams mentioned above. DO NOT GET SCAMMED. PROTECT YOURSELF AND YOUR MONEY. Some of these are: Careful Research: Before you choose a Broker to use, you should first conduct diligent research.

Some of the foremost regulatory agencies of the world are: Financial Conduct Authority FCA of the UK. Investment Industry Regulatory Organisation of Canada IIROC Australian Securities and Investment Commission ASIC. Cyprus Securities and Exchange Commission CySEC. DO NOT GET GREEDY In all honesty, the number one reason most Forex Traders fall into scams is the wishful thinking that you can make humongous wealth within a short time with a little amount without adequate knowledge.

One thing that comes to mind when buying Bitcoin from exchanges is that there are different prices for the same currency. Many customers are confused about this; however, each exchange has its own cut in it and maintenance charge. Thus, there are various reasons that these Bitcoin exchange keep different prices from one another.

Some other options for traders include Bitcoin exchanges such as BitInstant, BitStamp, BlockChain, etc. These have become reliable sources and provide better buying experiences on average for traders or buyers.

However, after buying Bitcoins, buyers or traders need to search a brokerage firm that offers Bitcoin trading services if they wish to expand the earnings.

Some people keep Bitcoin with them and sell when the prices are higher. However, not all people buy Bitcoin for trading; rather, they keep them for shopping. Traders who are looking for Bitcoin trading may look for the brokerage firms that offer Bitcoin trading services. There is no lack of such brokers; for instance, you can trade Bitcoin with some brokers such as P AvaTrade, ZoomTrader, SetOption, etc. These brokerage firms offer attractive services for Bitcoin traders and help them get better returns trading Bitcoin anywhere in the world.

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Well, this is where prop firms and funded accounts come into the equation…. In this article we are looking at The Funded Trader — a prop firm launched in June that offers funded accounts to consistently profitable forex traders. TFT was created by VVS Academy and Forex League , two fairly influential players in the forex industry that have been educating traders for the last few years.

Regardless of your opinion on forex mentors in the industry, The Funded Trader offering is extremely strong and the company is already rivalling some of the biggest names in the prop firm industry.

Could this be the best funded account option for you? As shown above, I have received multiple withdrawals and payouts from TFT over the last few months. Each withdrawal is extremely simple to request, through emailing the payments team. At that point, they confirm account details with you — then the payout comes within business days.

The standard challenge is fairly aptly named as it is fairly standard in the industry. Since FTMO brought out the challenge and verification model, this has been widely adopted and for good reason — because it works. If you fail during the challenge or verification, you will not get the fee back. No matter the account value, the rules are the same across the board.

If successful, you will be funded! The initial fee will also be funded in full. The rapid challenge has now been released! When I first released this review, the rapid challenge was still in the pipeline and it had traders wondering exactly what we would be looking at for this challenge.

Essentially, the rapid challenge is exactly what it says on the tin! This is a way for traders to get funded and receive their first payout extremely quickly. This can be completed within 35 days but the quicker, the better! You have up to 60 days to complete this phase, although most traders will strive to be completing this in a day or two! This continues to move to a higher percentage payout with each payout which comes at 14 days.

The Funded Trader is responsible for the largest payout in the industry to date! TFT came through with the proof of payment, which is amazing to see. Even with a payment that large, the money was released via Wise within a few days.

There have also been a few payments of a similar size. The growth is truly remarkable. The industry is booming and there has never been a better time for retail forex traders to be in the industry — however, a lot of the companies are offering the exact same package with a different logo. The first feature that sets the company apart are the brokers. The Funded Trader is partnered with two big names in the industry right now, when it comes to the actual accounts being offered.

These partnered brokers are Purple Trading and Nash Markets. Both of these brokers offer MetaTrader 4 and MetaTrader 5 platforms to trade on. The firm has very recently also started working with Eightcap , a very well respected broker that offers very high quality trading environments to retail clients around the world. The Funded Trader also has a leaderboard feature, showcasing the highest profit traders of the week and of previous months.

This also comes with a great community feel as there is a comments section where traders are interacting and discussing the markets.

Trading, for retail, can feel like a very lonely game so this community feel is very important. The company offers a free challenge to anyone who can show the best trading profits within a month, from a linked MyFxBook demo account. The main factor that sets The Funded Trader apart is the one step challenge. One unique selling point of TFT is the monthly competitions for traders seeking funded accounts. This is GREAT to see and I really like seeing this kind of competition within the industry.

Not only does it inspire newer traders and give those with less capital a chance of being funded, it teaches the traders the need for consistency and discipline. You need to ensure that getting the funded accounts is actually realistic. Obtaining funding from The Funded Trader is actually realistic and potentially easier than with a lot of the firms in the industry. There are a number of reasons for this….

The Funded Trader allows traders leverage on forex pairs which is more than enough to trade sizeable positions, along with weekend and overnight holding. This allows swing traders, day traders and intraday traders to all stand a great chance of getting funded.

The Funded Trader actually has easier conditions than FTMO. This may not sound important but when every percent counts, this does have a huge impact on how hard a trading challenge really is. The one step challenge account makes it much easier for traders to get funding as you are doing half the work of a standard challenge.

Of course, this will cost more but save you a lot of time, trial and error and increase the chance of you getting funded. Scaling plans are becoming a very important factor in which forex prop firm you seek funding from. You should still be expecting to see growth and working with a company that can offer this growth is key.

The Funded Trader offers a scaling plan that is based on performance and rewards consistent traders. In short, the profits are reviewed every 3 months, meaning you could receive additional funds 4 times per year.

The scaling plan is great and it does consistently reward consistent traders — which is what we want to see. There are of course merit to both kinds of programs though! The Funded Trader has a leaderboard where the top traders of the week are shown.

They are ranked and given a title depending on how much profit they have managed to make this week. There is also a hall of fame, where the best traders of each month are displayed, dating all the way back to June when the company really started. All you would need to do is link your demo account to MyFxBook , stick to the trading rules and you may be in for a chance of winning a free challenge. The best way to do this is from a third party vetted website or forum as these reviews are typically much harder to manipulate.

We can clearly see that The Funded Trader is rated Excellent on Trustpilot , with 4. The prop firm has, at the time of writing this, been around for less than a year and to see a company with such good reviews in the first year is incredible.

This actually puts the company very high on our top forex prop firms list , already! As you can see here, traders are praising the prop firm and it seems that a lot of traders are very impressed with the customer service. When a lot of money and funded forex accounts are at stake, you need to be able to rely on a high level of customer support — so this is great to see. In summary, The Funded Trader is a great prop firm and is rapidly becoming one of the strongest offerings in the industry.

The company really is for traders, by traders and I would highly recommend the company to traders looking for funding! If you have any experience trading a funded account from The Funded Trader, please do let me know in the comments down below. Kyle Townsend is the founder of Forex Broker Report, an experienced forex trader and an advocate for funding options for retail forex traders. As the forex prop firm industry has grown, so has the amount of prop firms offering funding for traders.

With forex brokers reducing leverage and the industry getting more regulated, trading your Skip to content THE FUNDED TRADER. FUNDING 9. PLATFORM CHOICES 9. EDUCATION OFFERED 8. STRICT RULES 9. GET FUNDED NOW! The Funded Trader Withdrawal Proof — My Withdrawal Getting Funding From The Funded Trader The Standard Challenge The Rapid Challenge The Largest Payout In Forex Prop Firm History What Makes The Funded Trader Different From Other Prop Firms?

Free Monthly Challenge Accounts Is Getting Funding From The Funded Trader Realistic? Leverage and Overnight Holding 2. Lenient Trading Conditions 3. One Step Challenge The Funded Trader Scaling Plan The Funded Trader Leaderboard The Funded Trader Reviews — What Are Traders Saying? In Conclusion — Is The Funded Trader A Scam Prop Firm? Continue Reading.

Many customers are confused about this; however, each exchange has its own cut in it and maintenance charge. It is mandatory to procure user consent prior to running these cookies on your website. These partnered brokers are Purple Trading and Nash Markets. Let me show you how you can make money with no money!! It is important to note that Diversit-e Smart Trade College does not accept deposits and or trade obo their Clients.

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