Do you wish to become an online trader? Do you think you can make a fortune out of trading just like so many others in the world? Firstly, you have to be clear on the fact that trading is not a miracle. You will make money in it just like you do in any other type of investment. In other words, there is risk involved and the possibility of losing your investment is there. However, there are some other additional challenges that you have to know when you are trading online.
If you don’t pay attention to these things, you might end up losing your money without even trading. To be safe as a trader, here are the three things you must remember when trading with an online brokerage firm.
Confirm Their Regulation and Transparency
Before you even sign up with a company, you have to know its regulation status. Regulation ensures that the company that you are about to open a trading account with is being audited and monitored by a third and neutral party. These third parties are none other than regulatory authorities. If your broker is not being regulated at all or does not even talk about it on the website, it can serve as a first hint that you are not signing up with the right people. If the company is regulated, you can already consider your money in safe hands.
Other things you should check include the adherence to the KYC and AML policies. Are they adhering to these policies or not? If not, it is yet another sign that you are not signing up with any professional. A trading platform scam clearly indicates with the absence of transparency, no regulation, and other hints that it does not care about your or your money. To make sure you are investing your money in the right direction, always check the regulation status of the company.
Look for False Promises
Here is a thing, even if you have been driving for 20 years, you can’t tell someone that you have never had an accident. Driving is a risky activity and every once in a while you end up with a minor or major accident. In a similar way, when you trade, you are investing your money. In other words, you are taking a risk with your money. You can end up losing the money you invest or making no profits. If the brokerage firm tells you that you will make money 100%, they are lying to you. No online company can ever make that claim, and even they are, you can be sure that they are not legitimate.
They are only saying these things because they want to lure you into their trap. Once you succumb to their false claims and make a deposit, you can say goodbye to your hard-earned money.
Know That You Can Get Your Money Back
You couldn’t have said that just a few years ago. It is a pity that a decade ago, there were no means available to you to get your money back from online scams. A service like Claim Justice has now made that possible. You can now turn the tables and get your money back if you think your online broker is a fraud and has scammed you out of your money.
There is no reason to think you can’t get your money back. If the transaction was never authorized or you don’t agree with the way the money was taken, you can dispute the charge. Claim Justice can greatly help you in filling for such a complaint and getting your money back.
There is a lot of other stuff you can consider when trading online but these are the most important aspects of your online trading journey. Yes, there are companies that can help you claim a refund with an online scammer, but you should not let that happen in the first place. The best strategy is to be safe from a scam in the first place.