Before choosing a forex broker, you should find out if they are regulated. The reason for this is because regulated brokers are more reputable and will not be subject to scams or complaints from their customers. There are various types of intermediaries, including Forex brokers and FXCM. A good way to avoid choosing a forex broker with a bad reputation is to research and ask other traders about them. This will also help you to make an informed decision.

If a broker does not have any reviews, it is not worth signing up. Scam forex brokers do not want their information linked to them. Unless they have positive reviews from their past clients, they are not trustworthy. If the site does not have any information about the broker, you should not open an account with them. Furthermore, if there are no reviews, you should avoid these forex brokers. These brokers have no financial or regulatory body and do not provide any information about their services.

To avoid a scam broker, you should check if they sponsor sports teams. Just because a broker is sponsored by a major sports team does not mean that it is legitimate. IronFX, for example, sponsored the FC Barcelona football team for a year and paid the club EUR3 million per season. In order to avoid a scam broker, you should follow a few simple steps before opening an account with them. You should also check if the broker is regulated and look into their products and offers.