Dishonest Forex dealing centers
Now, on the Internet, you can find a large number of dealing centers that work with clients each with their own methods, which in some way are related to the behavior of these same customers, that is, with us. All clients of dealing centers are people who want to do currency operations …
Since the methods of work are different, then the dealing center takes the client’s positions to the foreign market, in different ways.
In these centers there is the term “kitchen”. This is one of the methods of work. If you are a customer of a dealing center, your lots will remain in its cash desk, instead of being transferred to a real buyer or seller, that is, to a stock exchange. This is done in the hope that you will lose.
The management of the centers does not care when it happens, sooner or later. This is the result of the unprofessionalism of a beginner trader. An inexperienced person engaged in foreign exchange operations, having open positions is always psychologically tense. He is aggressive and can commit inappropriate actions.
Most traders do not speak English and therefore can not use information flows written in a foreign language. All this does not give the client profit, but only worsens his situation. And what does the dealing center do at this time? Indifferently looks at everything. Registers client transactions, as well as their results. All the money remains in place, that is, in the center, so there is no reason for the experience.
Dishonest methods of dealing centers
In addition, the client is encouraged to make as many transactions as possible. Such methods act on traders more effectively in client rooms. There is a massive psychosis.
“Kitchen” was known even in Soviet times. Not infrequently dealing centers are opened by former brokers losers or people far from understanding anything in currency transactions. Despite this, this type of activity is flourishing.
There is still such a thing as “brokerage”. Here the job is to provide the trader with a currency with a false quote. Even in this case, the dealer is not limited to own earnings, which consists of commissions when the transaction is made. This dealer also claims for additional profit.
As you know, the transaction is carried out through the dealer. He creates a quotation of currencies and shows it to the client, but afterwards it turns out to be fake.
Dishonest methods of dealing centers are known to many traders, but no one can do anything about it …