Forex Security, Forex Scam! Better Safe than Sorry Introduction
There have been some absolute horror stories in Forex trading over the years. A quick Google search for ‘Forex Scam’ will reveal over 12 million hits. Whilst 12 million is quite a significant number, it still pales in comparison to the amount of money lost by Forex traders dealing with dodgy companies.
As a decentralized and relatively unregulated market, Forex is extremely attractive to those perpetrating Forex scams, especially Forex auto-trading, as it brings Forex trading to the masses and so makes even more people susceptible to frauds. Bodies such as the National Futures Association and the U.S. Securities and Exchange Commission have issued warnings and rules to avoid fraudulent Forex trading behaviour.
- Don’t get caught out! If you are going to use a Forex auto-trading robot then use a tried and tested robot with a registered and regulated broker such as FxPRIMUS. You have been warned.
Company Mismanagement, Corruption or General Bad Practice
Suddenly and without warning, traders have found themselves losing some or all of their invested money due to company mismanagement, corruption of funds or just general bad practice. In the end, the unfortunate traders often find that their funds have been swallowed up by creditors and they are left with little or nothing.
- But thanks to FxPRIMUS the industry is slowing changing. In an industry first, FxPRIMUS offers an institutional hedge fund style of protection to its retail clients.
Here is the first way that FxPRIMUS protects you like no other brokerage:
Independent Third Party
An independent third party administers all segregated customer accounts. The administrator is TURNSTONE GROUP, who manage over USD1 billion in funds from offices located worldwide.
FxPRIMUS is the first retail brokerage in the world to contract such an independent third party fund administrator to monitor the flow of client funds. TURNSTONE also act as signatories to all client segregated accounts and any funds leaving the client segregated account must first be approved by them.
Although this is service is offered at great expense to FxPRIMUS, it does back up the broker’s promise of being ‘The Safest Place to Trade’, and by quite some way! This level of fund protection is one that NO OTHER Forex brokerage offers. Follow this link to find out more about how FxPRIMUS protects your funds.
In another industry first, FxPRIMUS is the first broker in the world to offer a Trust account option for ALL clients, regardless of their account size. Gone are the days of needing a USD250,000 account to benefit from the advantages of Trustee services!
How do You Benefit From a Trust Account?
Funds held in a Trust account are completely separate from the assets of FxPRIMUS (e.g., funds held in a Trust are completely off the FxPRIMUS balance sheet). This means that if for any reason the company were to stop trading your funds are fully protected against the claims of creditors, liquidators or any other third party.
- NO OTHER brokerage offers this kind of fund safety to all its traders!
As mentioned, these funds are held by an independent custodian trustee called Turnstone Trustees at Barclays Bank. This unique arrangement allows you to fund your account through the trustee and give you the peace of mind that your funds are 100% safe and secure.
Signing up for a Trust account is easy and inexpensive it only costs a one-time fee of USD50 to sign up for an FxPRIMUS Trust account.
- Traders new to FxPRIMUS can choose to pay the one-time fee as a deduction from their first Live account deposit.
- Existing clients just need to log in to the FxPRIMUS Member Area and select the ‘Trust’ option. Once selected, FxPRIMUS deducts the USD50 one-time fee from the trader’s account.
Follow this link to find out more about Trust accounts and the other ways FxPRIMUS protects your funds like no other broker.
Forex Security, Forex Scam! Better Safe than Sorry Conclusion
If you need to find a good Forex Broker, VPS or robot then you should find these articles helpful, Recommended Forex Brokers, Recommended Forex Virtual Private Servers (VPS) and Forex Auto-Trading Robots. All of the Forex brokers listed also provide FREE practice areas for yourself and your robot once registered.
- P.S. FxPRIMUS also offer another industry first with 60 days FREE access to 1-on-1 live personal coaching, SMS trade alerts, tutorial videos and more inside FxPRIMUS Coach.
Well, I hope you found something useful and enjoyed this article, Forex Security, Forex Scam! Better Safe than Sorry. Don’t forget to let me have your thoughts in the comment box below. See you soon.