In this post i have gathered information about the most common dirty practices of all poor quality currency brokers and how to recognize and get rid of them.
Professional or experienced traders in the financial markets will tell you how approximately 98% of retail brokers don't have any interest in profitable clients/traders.
Poor quality brokers instead trade directly against their clients, the more traders lose capital, the more profits these brokers make. This is one of the main reasons as to why many traders lose their money.
Poor quality brokers don't provide real and direct interbank market access where they execute all orders of their clients and this kind of brokers are many compared to the true brokers. Trading with such brokers will not allow you to make long-term profits in trading.
Poor quality brokers always have a conflict of interest between their business and the clients. In this poor situation, a trader must consider choosing another broker after making some good research to protect their deposits and improve his/her trading results.
How to spot poor quality traders?
Poor quality brokers tend to provide trading recommendations. This looks like advice and help with good faith, but most times broker's advice could end up with huge losses. Don't over trust some of these brokers.
Excessive low cost commissions,
Deposit bonuses,etc
Yours truly,
so true @timothy256, no need to over trust these brokers.