What are the characteristics of the foreign exchange black platform, and how to avoid choosing the foreign exchange black platform?

  If you do not choose a formal and reliable platform for foreign exchange, then you will basically not be able to make a profit, and even lose as much as you invest, so investors must not invest in those foreign exchange black platforms. This article focuses on introducing the characteristics of foreign exchange black platforms and how to avoid choosing foreign exchange black platforms.

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  What are the characteristics of foreign exchange black platforms?

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  Foreign exchange fraud is mainly carried out by the black platform. The so-called black platform means that the foreign exchange platform is not connected to the global foreign exchange market. The funds of traders are operated within the platform, and the black platform is the operation platform. for the purpose of making money. This is a consistent method of foreign exchange fraud. For investors, how to distinguish foreign exchange black platforms is an important issue.

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  The main characteristics of the foreign exchange black platform are: the address of the trading website is different from the registered address of the company, the account for depositing money is a private account, there is no regulatory agency or a fake regulatory agency, etc. If investors can clearly distinguish these three points, they can Effectively distinguish foreign exchange black platforms and prevent foreign exchange fraud. Among them, the regulator is the biggest weakness of the foreign exchange black platform. The foreign exchange black platform has no supervision, or is supervised by some small countries. These supervisions have no benefits at all. Therefore, investors only need to look at the supervision of the foreign exchange platform to judge whether it is foreign exchange fraud.

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  Use pirated software

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  At present, the most popular platform in the foreign exchange market is the MT4 platform, but since the genuine software is relatively expensive, in order to save costs, the black platform simply uses the cracked version of MT4 and rents a cheap server.

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  Regular foreign exchange brokers have a strong financial background. Usually, it is impossible to use cracked software in order to maintain goodwill. Therefore, we can simply draw a conclusion that 99.99% of the platforms that use the cracked version of MT4 are black platforms!

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  Is the platform that uses the genuine MT4 software not a black platform? The answer is of course no. When it comes to this, we have to understand the parent company that launched the MT4 software: Metaq Software.

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  Of course, the main business of the software company is to sell software and servers, so there will not be too many audits on the platform. As long as you are willing to spend money to buy from him, he can give you genuine software for performance, so using genuine MT4 software can only mean Brokers only pay for software.

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  no regulation

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  In order to meet more customers, Metaq Software has done many powerful functions in the MT4 background, including allowing brokers to freely set the spread, adjust the exchange rate, and be able to see the customer's pending orders and stop loss points, and bet For black platforms, they can use these functions to manipulate the exchange rate and cause losses to customers. Even if you make a profit, the black platform will refuse to withdraw funds for various reasons, which is an unfair game for traders.

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  So how to avoid the platform manipulating the exchange rate and causing trading losses as much as possible?

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  At this time, the regulatory agency is very important, and the regulatory agency will formulate many regulations to constrain foreign exchange brokers in all aspects, while protecting the interests of customers. Therefore, whether the broker is registered with the regulatory agency has become a very important indicator to determine the black platform.

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  How to avoid choosing black foreign exchange platforms

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  There are several important conditions for choosing a platform

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  1) If there are regulatory units (large regulatory units include ASIC, FCA, FSA, NFA, etc.), ensure that the platform does not operate transactions by itself, but follows the quotations of the real market

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  2) Make sure that the funds are not in the platform's own private account. If it is a private account, it is likely to be a fund disk, which is the so-called black platform. He can abscond with the money at any time. Some platforms will apply for a trust account with a big bank and store all the client's funds there. Even if the company reaches the client, there is still a way to take out its own funds.

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  3) Make sure that the platform uses MT4/MT5 as the main and only trading software. At present, at least 90% of the traders on the market use this software

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  4) The speed of deposit and withdrawal is very important. It is recommended to test the deposit and withdrawal speed of the platform with small funds before trading, so as not to affect the quality of your transaction due to the deposit speed of the platform when you want to trade. A few minutes delay in the foreign exchange industry It may cause you to make a lot less money

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  5) A platform with an account manager will save you a lot of trouble, and the account manager can help you deal with a lot of questions about your account (except for normal account losses). When you encounter some account problems, such as being unable to log in, forgetting your password, or even slipping, you can communicate with your account manager directly. They can directly report it to the technical background and deal with it directly, without the need for the customer to call customer service slowly. I have to transfer dozens of units before I can communicate with the customer service, and it may not be able to solve it.

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  It can be seen that the characteristics of foreign exchange black platforms are very obvious, and investors can basically see the clues as long as they pay a little attention. In addition, this article also introduces how to choose a formal foreign exchange platform. Investors can refer to them when choosing a platform, or they can consult more senior investors to see which foreign exchange platforms they invest in.