Follow these rules to be safe!
The forex and finance industry is wrought with elaborate scams that has only one purpose - to separate you from your hard earned money as quickly as possible.
Victims let ignorance and greed become their driving force in these matters. Remember: If it sounds too good to be true, then it most likely is a scam.
Adhering to a set of rules is the best way to ensure that you do not become a victim.
- Always conduct your own due diligence on any brokerage before you deposit any monies with them. We will be releasing an article soon on what to look for.
- Do not accept any bonuses or insured trades.
- Do not give anyone else access to your account, nor should you allow anyone else to trade your account, inclusive of any account managers associated with the brokerage.
- Do not deposit more than your intended initial principal amount.
- Save / print all written correspondence with your brokers and place it in a file in a safe place.
- Write down a brief of any conversations you have with your broker / account manager. Make sure you note down the exact time, the date, and the full name of the person.
- Do not ever place 'broker recommended' trades on a live account.
In accordance with the 'Anti-Money Laundering' (AML) legislation, you do have to submit personal ID. This is to verify your identity and residency. This may include:
- Scanned copy of your passport or drivers license.
- Scanned copy of the front and back of credit cards that was used to make a deposit (Only if a CC was used). Please note. You can block out the security numbers on the rear + block out the middle eight numbers on the front.
- You will have to download, sign and submit a declaration form.
You will not be able to make withdrawals without fulfilling the AML requirements.
Think Markets is one of only a few multi-regulated brokers in the world. They are a market maker with significant liquidity.They meet all of our regulatory, feed, dispute resolution and platform criteria.
- TF Global Markets (Aust) Pty Ltd
- Australian Financial Services License (AFSL): 424700
- Contact #: 1300 390 515
- Financial Services Guide
- TF Global Markets (UK) Ltd
- FCA license: FRN629628
- Contact: +44 203 514 2374
South Africa -
- TF Global Markets (South Africa) Pty Ltd
- FSP License: 49835
All client funds are segregated from operational accounts and held in large commercial banks: Barclays Bank, National Australia Bank, and The Commonwealth Bank.
Platforms offered: MT4 and Trade Interceptor (App)
Mobile Trading offered: Yes.
Server Time: Genuine New York Close feeds. GMT +3.
Server Location: London and Hong Kong.
MT4 for Mac: Available.