Forex cuisine is a broker’s satisfaction of an application of an employee of a brokerage company on the basis of cashless payments, that is, within the broker's bidding mechanism without the right to enter the actual market.
The principle of the "kitchen" is that it does not have the right to enter the market, but it can create its own individual trading platform on which trade will take place between clients, brokers and traders. If the company is absolutely honest, then the chance to get real profit is very real.
Distinguishing forex cuisine from a real broker is not an easy task. The only option is a thorough study of the terms of trade.
A normal broker earns on the commission received from the execution of the transaction or the difference between the sale and the purchase. Due to their large number, you can get a good financial amount.
Consider 10 signs of forex cuisine that should alert you:
- The dealer bets on the beginner. Most often this is done recently by brokers.
- Having the desire to promote their trading platform, they promise inexperienced players "golden mountains".
- Attracting inexperienced employees of bookmakers. A beginner, even on a legal exchange, may lose if he selects the wrong tariff or hopes for good luck.
- Organization of regular courses. The training materials consist of standard principles or do not have further development.
- No specific data on liquid suppliers.
- There is no affiliate bidding program, another scheme will have the status of "fraud." Fixed rate offers are also possible.
- Creating a unique service with which success is guaranteed. In fact, such promises are empty, they mean nothing.
- The name "kitchen" is similar to a popular brokerage firm. Recently created financial pyramids prefer to use an already promoted brand.
- The presence of interruptions in the terminal. It happens that the trading platform is temporarily out of order, but if this problem is constant, then it is better to refuse to cooperate with this company.
- Increased commissions. Before entering a trade with a large sum of money, I advise you to make a calculation, thanks to which you can calculate the approximate spread size.
When determining a broker, pay attention to the age of the company. It is desirable that he be at least five years old. In this case, the chance to get into a reliable company is significantly increased.
It is also worth paying attention to the stability of a financial company in the market. To do this, we recommend that you conduct a thorough analysis and study all the reviews about the broker, which can be done on our website.