Can a broker steal your money?
The broker cannot execute trades without the client’s consent or transfer funds from his bank account to conduct transactions with another broker. He cannot also transfer stocks for offmarket trades or merge the balance from other accounts to nullify debit in any other trading account.
What happens when a stock broker goes bust in Australia?
When your broker or fund manager buys shares on your behalf, you’re registered at the ASX as the legal owner. If your broker or fund manager goes bust it doesn’t matter because you own the shares directly.
Who is the most successful forex trader in the world?
#1 – George Soros George Soros is the world’s best currency trader. Born in 1930, the Hungarian trader is known for his 1992 short trade on Great Britain Pound (GBP). He sold short $10 billion and netted more than a billion dollars.
Is it possible to get scammed on Forex trading?
However, often Forex traders don’t have a great understanding of how Forex markets work and what a Forex broker does exactly, which leaves the latter a lot of room to scam the trader. Whether it is about proposals on Instagram or simply fake investment advice, beware.
Who are the Best Lawyers for Forex fraud?
Giambrone is a leading mid-size international law firms with a team of experienced lawyers specialising in Forex fraud. Giambrone assists traders in civil and criminal actions against unregulated Forex companies, online internet fraudsters and pyramid schemes created on a Ponzi-style structure.
How to find a trusted forex broker?
Conclusion: Double check the authority of the governing body that regulates the broker you are looking at. You can go to the website of the governing body to search for the registration number and verify its legitimacy. To help investors find a trusted broker where they live, we have created country-specific forex broker guides.
Is forex trading profitable?
Forex is by far the largest financial market in the world, with over $6 trillion traded daily globally. That staggering figure, coupled with the magic of leverage, always means that there is immense opportunity to make profits in the Forex market, even though this comes with a lot of risks as well.