eToro gives more reasons to start trading now

Justin Freeman

The start of 2022 is expected to bring an influx of novice investors looking to generate returns by trading the markets. With global bank savings rates continuing to lag inflation, cash in the bank is a losing trade, but what approach is the best for newbies to take?

899 more reasons for new traders to open an account with a trusted broker

Rule 1 – Protecting capital

Market risk is unavoidable but can be managed by trading markets with a risk-return profile that suits the individual. However, just as necessary is following the guidelines to avoid signing up with a scam broker. Victims of brokers to avoid often lose their profits and their initial capital. They are caught up in double-dip techniques where scammers try to extract as much cash as possible from their victims.

The simplest way to minimise the chances of falling foul of a scammer is to sign up with a broker regulated by a Tier-1 broker.

Tier-1 Financial Regulators

  • The Financial Conduct Authority (FCA)
  • The Australian Securities and Investments Commission (ASIC)
  • The U.S. Securities and Exchange Commission (SEC)
  • Cyprus Securities and Exchange Commission (CySEC)
  • Monetary Authority of Singapore (MAS)
  • The Swedish Financial Supervisory Authority (SFSA)
  • The Financial Services Conduct Authority of South Africa (FSCA)

Rule 2 – Find A Market Which Fits Your Style

There is also a need to step back from offers that appear too good to be true – as they usually are. The good news is that trusted brokers continue to improve their service. Legitimate brokers offer clients an opportunity to invest in new and trending opportunities that make it possible to realise good investment returns.

This week the broker IG has opened new markets in inflation based products – an ideal instrument for those looking to hedge their wealth from runaway inflation. Over the last year, eToro added 898 new markets in asset groups, including 113 ETFs for long-term investors and 27 new cryptocurrencies for those with a higher risk appetite. Good brokers make sure there’s something for everyone, which helps new traders avoid the scammers.

For many, it’s time to take a view on what direction the markets will take in 2022. Whether that’s 20% up or 10% down, there are ways to trade and make a return and tick the box in terms of operational risk. Those due diligence checks on a potential broker are more important than the research carried out to find a potential outperforming stock or currency.

 

Crowdsourcing information about scam brokers can help others avoid falling into the traps set by disreputable brokers and you can share your experiences here. If you want to know more about this particular topic or have been scammed by a fraudulent broker, you can also contact us at [email protected]


Justin Freeman

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