Good day all!!
So i am going to cover a few way to research and spot a scam broker. Now this will not work all the time, say a legit broker is brand new and there is no info on them, but it should keep you out of trouble and help you avoid the chop shops that are out there.
So there first step is to see what info is available on the web site. for this example we will use https://b54.com/
Step 1: go to http://whois.net/
and in the seach box type in the brokers web address and click go.
You will see a screen similar to this if the broker is smart.
Domain Name: B54.COM
Registrar: GODADDY.COM, LLC
Whois Server: whois.godaddy.com
Referral URL: http://registrar.godaddy.com
Name Server: NS0.DNSMADEEASY.COM
Name Server: NS1.DNSMADEEASY.COM
Name Server: NS2.DNSMADEEASY.COM
Name Server: NS3.DNSMADEEASY.COM
Name Server: NS4.DNSMADEEASY.COM
Updated Date: 10-jun-2013
Creation Date: 07-feb-2000
Expiration Date: 07-feb-2022
So the only thing this tells us is the broker has paid to keep all his info private.
The one thing we can see is the creation date, take not of it and if the broker is claiming to have been around for years but it was created 2 months ago big RED FLAG.
So next step I like to do is jump on Youtube and search for them. b54.com in this case no results so we still don't know if this is a legit broker or not. If there are reviews watch them and look for the people to be giving similar scripted reviews.
Lets head on over to google, i find several reviews over numerous web sites, the thing is they are all the same review. So another RED FLAG. Probably some poor guy from Freelancer who was paid to spam reviews.
Last step and one of the best sites you can check on scam brokers is http://www.forexpeacearmy.com
simply search for the name
Well now we have a very clear picture of the broker and you should be able to make an educated decision.
Hopefully this will help you steer clear of the bucket shops out there. Make sure and take advantage of the reviews on this web site also and you should never find yourself in a predicament where you loose your hard earned money.http://www.binaryoptions.net/binary-options-brokers/
And remember if it sounds to good to be true it probably is.
If you need help with researching a broker please feel free to hit me up, I love doing this kinda stuff.