(1) First of all, foreign exchange transactions are regulated by the host country, so whether or not to obtain the permission of the host country is a very important criterion. No supervision, or deck supervision, are fake foreign exchange dealers.
(2) See if the trading software used in this platform is genuine. If you use pirated software, it is a fake platform.
(3) Some clues can also be seen from the website domain names used by the platform. For example, the other party said that he was a big British company, but found that the domain name of the other party's website was registered in China. This is the problem.
(4) The next step is to do field investigation. According to the netizen's report, we went to the reported company for on-the-spot investigation: pretending to be an investor, making positive contact with these companies and obtaining relevant information. Or go to the registration places of these companies to find out.
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How to choose and use foreign exchange trading platform
(1) First of all, check what institution the platform belongs to, whether the supervision number matches the name of the institution, the historical complaint record and credibility of the platform, and so on. This information can be verified on the website of the regulatory agency. Formal foreign exchange companies are regulated, so you must not choose traders or market makers who are not officially registered and not regulated.
(2) Secondly, it is very important to find a transparent platform for transaction costs and reduce or eliminate hidden costs. Any investor should know the composition of expenses. Note that the spread is not the only cost, and investors should pay attention to the hidden costs, because these costs may be different for each trader. What investors need is a trader with transparent fees.
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People's Network-How to Choose and Use Foreign Exchange Trading Platform