Protect Yourself

10 Ways to Avoid Becoming a Victim of an Online Bitcoin Broker Scam

There are only a few authentic ways to avoid being the victim of online broker scams. First of all, you should carefully choose the brokerage platform for trading. The right choice of a trusted broker will solve 50% of the scam-related problems for you. The other option is to hire the services of fund recovery specialists who can help you to investigate the broker site for you. These services are meant to keep you away from becoming the victim of online bitcoin broker scams and many other frauds.

The online broker scam

As soon as you enter the fake online broker’s trading page, your computer will get encrypted with a secret code, and the software will download a few files for your system that will help the hacker to steal the key to decrypt your operating system and all your other gadgets. At the same time, the hacker will install a number of applications that are intended to steal your information. The most common ones are virus tools, key loggers, hacking tools, spyware, mobile banking and other kind of software that can steal your bank details and personal information. The hackers usually find a way to steal your bank card details and personal information from the websites or email addresses that you are using.

Why is it so dangerous?

Funds are transferred to brokerage platform and brokerage software must be from trustworthy sources. Investors should be careful when they see any questionable links on social media or websites. The way they are advertised can lead to avoidable risks. Why do scammers target cryptocurrency investors? There is a huge demand for cryptocurrencies on the internet and the people in cyber world who are interested in it. Some broker bots were even developed to take advantage of this demand. The vast number of Bitcoin and other cryptocurrencies are constantly under the threat of being stolen or lost. This is one of the biggest factors why people start losing money. What can you do to avoid becoming a victim? Make sure to choose a trustworthy broker.

What are the consequences of an online broker scam?

Most bitcoin brokers have virtual offices which are located in countries across the globe. You can find them in Australia, Canada, the United States, the United Kingdom, and all over the globe. By visiting one of the following online bitcoin broker websites, you may get the necessary details of an official bitcoin broker. The most important information you need to know about the broker website is its licensed status with the local authorities.

How to avoid becoming a victim of an online broker scam?

The most critical thing in your rescue operation is to know whether the Bitcoin brokerage site actually exists. If it does, then you can go ahead and check out the site for yourself. You can visit the site on any other browser. Another option is to surf to the broker’s website through an antivirus software. A screenshot from the browser or antivirus software will clearly show whether the broker is indeed online. However, if the website is fraud, it will not display any contact details on its homepage. For instance, if you click on a ‘Send me an Inquiry’ link, you can be the victim of an online bitcoin broker scam. In this situation, you need to pay a fee to see the broker’s site.

Choose the right broker for trading

When you are ready to begin trading, you should carefully choose the broker for you. You should look at the current broker ranking according to the position on the security market. The traders should also check the volumes traded on the broker before deciding to place a trade. The large volume traded means that the broker is highly reputable. However, you should also consider other factors like trading fees, trading opportunities and portfolio. Understand the potential of trading It is very important to understand the level of the trading platform. You should try to understand the whole experience of the trader before signing any contract. If you decide to play with Bitcoin, you must understand the process of how to gain profits.

Hire recovery specialists

The SEC can order the liquidation of any online broker for fraud. Therefore, you should hire recovery specialists who specialize in this kind of business. The following people can do this: The former brokers who were burnt The good fund regulators like the CFTC and the CME The good fund authorities like the CFTC and the NFA Fund recovery specialists have a good reputation of helping the victims of online brokers. They do their job in a more professional manner. For example, by working with us, you can look at the brokers’ sites without any concern. These specialists will provide you with other tools, such as evaluations, filtering and recommendation, and other suitable packages.