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

Latest news

iEarn Bot – One of the Largest Scams to Date Unravels
Thousands left with huge losses after investing in iEarn Bot scam. Read more
Binance Pulls the Plug on UK Cash Deposits – and Withdrawals
Crypto exchange Binance stops accepting deposits made in British pounds. Read more

Safest Forex Brokers 2023

Broker Info Best In Customer Satisfaction Score
#1 AvaTrade LogoYour capital is at risk Founded: 2006 Globally regulated broker
Number One Broker
BEST CUSTOMER SUPPORT Visit broker
4.9
#2 BlackBull Markets LogoYour capital is at risk Founded: 2014 Global Forex Broker
Number One Broker
BEST SPREADS Visit broker
4.8
#3 73 % of retail CFD accounts lose money Founded: 2014 Global Forex & CFD Broker
Number One Broker
Best Trading Conditions Visit broker
4.9
#4 Forex Broker eToro Logo67% of CFD traders lose Founded: 2007 Global CFD & FX Broker
Number One Broker
ALL-INCLUSIVE TRADING PLATFORM Visit broker
4.9
#5 Plus500 Logo79 % of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Founded: 2008 Global CFD Provider
Number One Broker
Best Trading App Visit broker
5

    Forex Fraud Certified Brokers

    AvaTrade logo
    HYCM Logo
    IQ Option Logo
    BlackBull Markets Logo
    OctaFX Logo
    LegacyFX Small Logo
    XM Logo
    Forex.com Logo
    skilling logo
    IC Markets Logo
    City Index Logo
    ATFX Logo
    Exness Small Logo
    CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.