How to identify a fraudster: signs of fake and illegal brokers

March 10, 2021

Recently, the Internet has been filled with many new brokers who often leave their clients without money. In order not to leave the market with empty pockets and lost faith in the possibility of making money on investments, take a close look at the company whose services you are going to use.

Let’s understand the types of brokers

First of all, let’s figure out who a forex broker is. Let’s start with the fact that this concept has appeared among the people. It is correct to separate a forex dealer and a simple broker:

Forex dealer enters into transactions with clients on his own behalf and at his own expense, earning on the difference between the purchase and sale prices.
Forex broker makes transactions on behalf of the client and in most cases takes a commission on the amount of the transaction.

By the level of reliability, brokers are:

Legal brokers: Such companies have a bank license number on their website. Forex dealers can also provide a document confirming their legal activity in the financial market. Licensed brokers are listed on the Central Bank website.
Illegal brokers: Companies from this group are often registered offshore. You need to be extremely careful with such brokers, as there are many scammers among them. As a rule, they often and annoyingly call, they can offer to replenish a deposit to an individual’s card, cryptocurrency, to an electronic wallet. According to the rules, it is necessary to deposit money to the current bank account;
Clones: Such companies simply copy well-known brokers, forging the official website, logo, name. In this case, you should take a closer look at the design of the Internet resource; I recommend paying special attention to the domain name. If any word (for example, “trade”), a hyphen, period or other sign is added to the real name, you are in front of a fake.

Unscrupulous fraudulent brokers often deliberately arrange everything as if the client himself is losing money in the trading process. As a rule, such companies trade in the markets where the risks of quickly losing funds are highest, for example, in the stock market or forex.

How to find a reliable broker

Legitimate companies, which have been building a reputation for years, try to retain their customers by offering favourable conditions, many ways to withdraw money, and training materials. My advice to you, when studying the broker’s website, pay attention to the “Training” section. Large companies really strive to increase the earnings of their clients, since they take a commission from the profit. If the site contains enough videos, books, presentations and other useful materials about the specifics of the market and trading rules, it is hoped that the broker is conscientious.

Licensed brokers are trying in every possible way to improve their website, therefore they offer clients various bonuses and “goodies”: brokerage services for legal entities, analytics on top stocks, investment ideas, etc. Forex dealers have their own advantages: a calculator for traders, PAMM accounts, a program to analyze graphs, etc.

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Last tip

When starting to trade on the market, remember that in this matter it is important to learn how to not only open but also close deals on time. You also need to control your emotions and not succumb to the pressure of analysts, which can be encountered when cooperating with scammers. If you see that the money from the deposit is melting during the trading process, you should not constantly replenish the account, hoping to win back. Remember that risk-free gambling has driven many traders to ruin.

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Peer-to-peer home rental

Understand the implications renting your home to strangers Before you consider renting out your home, your guest room—or even your couch—first contact your insurance professional so you fully understand the financial risks and can take the proper precautions. Here’s some general information to jumpstart your insurance conversation. If you are considering renting out your home, your guest room or even your couch your first step should be to contact your insurance professional. Peer-to-peer home sharing opportunities such as Airbnb can be a great way to bring in extra money and are increasingly popular; however, they can also leave you financially vulnerable. If your renter starts a fire and damages your property or is hurt while renting your home, will you be protected? Peer-to-peer home rental Peer-to-peer home sharing opportunities such as Airbnb are increasingly popular and can be a great way to bring in extra money. However, they can also leave you financially vulnerable. If your renter starts a fire and damages your property or is hurt while renting your home, will you be protected? Standard homeowners and renters insurance policies are designed for personal risks, not commercial risks. Some insurers now offer a home-sharing liability insurance policy that can be purchased on a month-to-month basis, but there may be exclusions and limitations, so read the policy carefully. If you plan to rent out all or part of your home on a regular basis, many companies will consider this a business use and you may need to purchase a business policy—specifically either a hotel or a bed-and-breakfast policy. If you are doing the renting If you are the one using a peer-to-peer network to rent a space from someone else, check your own homeowners or renters insurance policy. In most cases, if your personal possessions are stolen or damaged off-premises, you can simply file a claim with your own insurer. And if you accidentally injure someone, you should also be financially protected. Occasional home rental There may be times when a major event in an area—the Super Bowl, say, or a graduation at a major university—depletes local hotel space. In these cases, it’s fairly common for people to rent out their home or part of it for the extra cash it brings in. Many insurance companies take this situation into account when creating a homeowners or renters policy and, with sufficient advance notice, will extend your coverage to the renter on a one-time basis. Other insurance companies may require the purchase of an endorsement to the policy to provide broader coverage for the renters in your home. In both cases, be sure to let your insurance company know ahead of time, so you can be prepared.
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Coronavirus disease (COVID-19)

What is COVID-19? COVID-19 is the disease caused by a new coronavirus called SARS-CoV-2. WHO first learned of this new virus on 31 December 2019, following a report of a cluster of cases of ‘viral pneumonia’ in Wuhan, People’s Republic of China. What are the symptoms of COVID-19? The most common symptoms of COVID-19 are Fever Dry cough Fatigue Other symptoms that are less common and may affect some patients include: Loss of taste or smell, Nasal congestion, Conjunctivitis (also known as red eyes) Sore throat, Headache, Muscle or joint pain, Different types of skin rash, Nausea or vomiting, Diarrhea, Chills or dizziness Symptoms of severe COVID‐19 disease include: Shortness of breath, Loss of appetite, Confusion, Persistent pain or pressure in the chest, High temperature (above 38 °C) Other less common symptoms are: Irritability, Confusion, Reduced consciousness (sometimes associated with seizures), Anxiety, Depression, Sleep disorders, More severe and rare neurological complications such as strokes, brain inflammation, delirium and nerve damage. People of all ages who experience fever and/or cough associated with difficulty breathing or shortness of breath, chest pain or pressure, or loss of speech or movement should seek medical care immediately. If possible, call your health care provider, hotline or health facility first, so you can be directed to the right clinic. What happens to people who get COVID-19? Among those who develop symptoms, most (about 80%) recover from the disease without needing hospital treatment. About 15% become seriously ill and require oxygen and 5% become critically ill and need intensive care. Complications leading to death may include respiratory failure, acute respiratory distress syndrome (ARDS), sepsis and septic shock, thromboembolism, and/or multiorgan failure, including injury of the heart, liver or kidneys. In rare situations, children can develop a severe inflammatory syndrome a few weeks after infection. Who is most at risk of severe illness from COVID-19? People aged 60 years and over, and those with underlying medical problems like high blood pressure, heart and lung problems, diabetes, obesity or cancer, are at higher risk of developing serious illness. However, anyone can get sick with COVID-19 and become seriously ill or die at any age. Are there long-term effects of COVID-19? Some people who have had COVID-19, whether they have needed hospitalization or not, continue to experience symptoms, including fatigue, respiratory and neurological symptoms. WHO is working with our Global Technical Network for Clinical Management of COVID-19, researchers and patient groups around the world to design and carry out studies of patients beyond the initial acute course of illness to understand the proportion of patients who have long term effects, how long they persist, and why they occur. These studies will be used to develop further guidance for patient care. How can we protect others and ourselves if we don’t know who is infected? Stay safe by taking some simple precautions, such as physical distancing, wearing a mask, especially when distancing cannot be maintained, keeping rooms well ventilated, avoiding crowds and close contact, regularly cleaning your hands, and coughing into a bent elbow or tissue. Check local advice where you live and work. Do it all! When should I get a test for COVID-19? Anyone with symptoms should be tested, wherever possible. People who do not have symptoms but have had close contact with someone who is, or may be, infected may also consider testing – contact your local health guidelines and follow their guidance. While a person is waiting for test results, they should remain isolated from others. Where testing capacity is limited, tests should first be done for those at higher risk of infection, such as health workers, and those at higher risk of severe illness such as older people, especially those living in seniors’ residences or long-term care facilities. What test should I get to see if I have COVID-19? In most situations, a molecular test is used to detect SARS-CoV-2 and confirm infection. Polymerase chain reaction (PCR) is the most commonly used molecular test. Samples are collected from the nose and/or throat with a swab. Molecular tests detect virus in the sample by amplifying viral genetic material to detectable levels. For this reason, a molecular test is used to confirm an active infection, usually within a few days of exposure and around the time that symptoms may begin. What about rapid tests? Rapid antigen tests (sometimes known as a rapid diagnostic test – RDT) detect viral proteins (known as antigens). Samples are collected from the nose and/or throat with a swab. These tests are cheaper than PCR and will offer results more quickly, although they are generally less accurate. These tests perform best when there is more virus circulating in the community and when sampled from an individual during the time they are most infectious. I want to find out if I had COVID-19 in the past, what test could I take? Antibody tests can tell us whether someone has had an infection in the past, even if they have not had symptoms. Also known as serological tests and usually done on a blood sample, these tests detect antibodies produced in response to an infection. In most people, antibodies start to develop after days to weeks and can indicate if a person has had past infection. Antibody tests cannot be used to diagnose COVID-19 in the early stages of infection or disease but can indicate whether or not someone has had the disease in the past. What is the difference between isolation and quarantine? Both isolation and quarantine are methods of preventing the spread of COVID-19. Quarantine is used for anyone who is a contact of someone infected with the SARS-CoV-2 virus, which causes COVID-19, whether the infected person has symptoms or not. Quarantine means that you remain separated from others because you have been exposed to the virus and you may be infected and can take place in a designated facility or at home. For COVID-19, this means staying in the facility or at home for 14 days. Isolation is used for people with >>Read more
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8 questions to ask before buying auto insurance

Make sure your car coverage reflects your needs and budget The vehicle you own, your personal priorities and your budget all factor into your unique auto insurance needs. Before comparing policies and insurers, evaluate how you use your car and what risks you face to figure out what options make the best sense for you. 1. How much do you drive? Do you absolutely need your car every day—for instance, to commute to work or drive the kids to school and activities? Do you drive 100 miles a month or closer to 1,000 or more? Make sure your policy reflects how much you use your car. If you don’t drive a lot, you may want to opt for mileage-based insurance. 2. Will you be using your car for work? If you use your car not just to get to work, but to perform tasks for which you get paid, commercial auto insurance is a necessity. A personal auto policy will not provide coverage if you transport paying passengers through a ride-share service, deliver pizzas, drive as a courier or use your car for other commercial activities. 3. What type of car do you drive? Insurers have mountains of data, and they know in precise detail what types of cars, makes and models are more—or less—likely to incur claims. A flashy sports car with a powerful engine may be more likely to be stolen and its bodywork costs will be more than on a mid-sized sedan—and your insurance will be priced accordingly. Some types of cars—such as modified or classic cars—require special insurance. By the same token, you may receive discounts if you have a “safe” car—one with the latest safety features and a good safety record. 4. How much do you love your car? If you love the way your vehicle looks and take pride in its appearance, you’ll likely want it fixed perfectly—or replaced with the same model—if it gets damaged. That means you’ll probably to consider the fullest range of insurance—including collision, comprehensive and glass coverage. On the other hand, if you drive a beater, see cars merely as transportation and want to save on premiums, you might prefer to limit your policy to liability. 5. Where do you live—and park your car? Where you live will impact your insurance rates—and it may be a factor in what coverage you purchase. For example, cars parked on the street in urban areas face a greater risk for theft or vandalism, so comprehensive coverage might be a good option. You may discover that your premium rates are lower if you move from a city to a suburb. 6. Who else will be driving the car? Generally, your car insurance will cover other occasional drivers. However, if other drivers live with you and use your car—whether a spouse, a teen driver or a housemate—they should be listed on your policy. 7. What are your legal obligations? Nearly every state requires that you carry minimum liability coverage for your car. At the very least, you need to make sure your policy complies with state mandates. However, the levels of required coverage are generally pretty low. Keep in mind that, if you are involved in a serious accident, you may be sued for a large sum of money. Depending on your assets and financial risk tolerance, to be safe, you’ll probably want to purchase a higher level of liability coverage. 8. Is your car financed or leased? If you still owe money on your car or have to return it in good condition when a lease expires, you’ll likely be required to insure the car for its full value—and even for any gap between what you owe and the car’s market value. Collision and comprehensive will cover damage to your car—and supplemental gap insurance will cover the rest. Keep in mind that your insurance options and costs will also be affected by your age, gender and driving record. Be aware too that your credit score can also impact your insurance rates. Once you’ve looked at your needs and priorities, and understood how insurance options will match them, you’ll be better prepared to make an informed decision about the types and levels of coverage to buy.
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Moment the Ever Given crashed into the Suez Canal is caught on video

Human error may have caused the Ever Given cargo carrier to crash into the banks of the Suez Canal rather than strong winds, authorities revealed today. Osama Rabie, Egypt’s Suez Canal Authority chief, confirmed that ‘strong winds and weather factors were not the main reasons’ for the ship’s grounding in the busy waterway five days ago. Instead, he said there may have been ‘technical or human errors’ which led to the crash. Maritime tracking technology has simulated the moment the Ever Given cargo carrier lurched into the banks of the Suez Canal when it ran aground on March 23. Two attempts to dislodge the 1,300ft-long container ship – and reopen the critical global trade route – will be made today after efforts yesterday failed. The Panama-flagged vessel, which is as long as the Empire State building, has been wedged since Tuesday and caused tailbacks of around 280 ships floating in and outside the single-lane Egyptian waterway. High winds were understood to have blown the ship across the narrow canal, that runs between Africa and the Sinai Peninsula and facilitates 12 per cent of international shipping, but Mr Rabie today confirmed this was not the main reason for the crash. A video from Vessel Finder recreating the crash by using the ship’s onboard tracker shows the moment it veered to port before suddenly going hard to starboard and hitting the banks. It ran aground about 3.7 miles north of the southern entrance, near the city of Suez, and forced boats astern to grind to a halt. Captains appear to be banking on the ship being freed soon and are anchoring outside the Suez rather than going around the Cape of Good Hope, which could add days onto their journeys and even expose them to piracy. The Panama-flagged vessel, which is as long as the Empire State building, has been wedged since Tuesday and caused tailbacks of around 280 ships floating in and outside the single-lane waterway in Egypt Workers were dredging the banks and sea floor near the vessel’s bow to try to get it afloat again as the high tide starts to go out Plans were being drawn up to pump water from interior spaces of the vessel to lighten the load, and two more tugs should arrive by Sunday to join others already trying to move the massive ship. An official at the Suez Canal Authority said they were planning to make at least two attempts today to free the vessel when the tide drops. He said the timing hinges on the tide. At least 10 tugboats have already been deployed to assist in refloating the vessel, according to Japanese firm Shoei Kisen KK, which owns the container ship. Shoei Kisen President Yukito Higaki told a news conference at company headquarters in Imabari in western Japan that workers were also dredging the banks and sea floor near the vessel’s bow to try to get it afloat again. He said in a statement today that the company was considering removing containers to lighten the vessel if refloating efforts fail, but that this would be tricky. An approach was made by President Joe Biden, who said yesterday: ‘We have equipment and capacity that most countries don’t have and we’re seeing what we can do and what help we can be.’ That the White House stands ready to assist stresses how essential the Suez Canal is to the smooth functioning of global trade, and companies and governments are already warning of delays to goods arriving from Asia. Analysts say an estimated £290million worth of trade is being held up every hour the ship remains wedged across the canal. The backlog of vessels could stress European ports and the international supply of containers, already strained by the coronavirus pandemic, according to IHS Markit, a business research group. It said 49 container ships were scheduled to pass through the canal in the week since the Ever Given became lodged. Ikea has warned of delays to supplies, which will mainly affect goods from Asia such as electricals and furniture. The canal provides the shortest possible route for ships travelling between Asia and Europe, with the only alternative being to sail around the Cape of Good Hope – adding 14 days and 5,000 nautical miles to the journey A huge container ship blocking the Suez Canal is threatening to delay shipments to the UK, with electronics, clothes, furniture and toys all likely to be affected Some vessels began changing course and dozens of ships were still en route to the waterway, according to the data firm Refinitiv. A prolonged closure of the crucial waterway would cause delays in the global shipment chain. It is is particularly crucial for transporting oil. The closure could affect oil and gas shipments to Europe from the Middle East. Apparently anticipating long delays, the owners of the stuck vessel diverted a sister ship, the Ever Greet, on a course around Africa instead. Others also are being diverted. The liquid natural gas carrier Pan Americas changed course in the mid-Atlantic, now aiming south to go around the southern tip of Africa, according to satellite data from MarineTraffic.com. The US Navy’s Fifth Fleet, which operates in the Red Sea, say a number of shipping companies have reached out to them in the last two days about security in the region amid fears they could be attacked. Zhao Qing-feng, office manager of the China Shipowners’ Association in Shanghai, told the Financial Times that vessels choosing to go the African route will have to take on additional security staff to ensure they are safe. Meanwhile Willy Lin, chair of the Hong Kong Shippers’ Council, said an international coalition of naval warships might have to be brought in to protect cargo vessels if the crisis drags out. The Ever Given was involved in an accident in northern Germany in 2019, when it ran into a small ferry moored on the Elbe River in Hamburg. No passengers were on the ferry at the time and there were no injuries, but it was seriously damaged. >>Read more
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Elon Musk denies sexual misconduct allegations

The world’s richest man, Elon Musk, has denied claims that he groped and exposed himself to an employee at his SpaceX rocket company six years ago. A report in the Business Insider news outlet on Thursday alleged SpaceX paid the ex-flight attendant $250,000 (£200,000) to settle the claim. “Those wild accusations are utterly untrue,” he wrote on Twitter. Mr. Musk told Business Insider its article was a “politically motivated hit piece”. The SpaceX founder suggested the piece was intended to interfere with his stalled $44bn (£35bn) acquisition of Twitter and malign the recent shift in his politics. He had used the social media site to announce he “can no longer support” the Democratic Party on Wednesday, saying he plans to vote for Republicans in future elections. Shares in his electric car company, Tesla, dropped on Friday. According to Business Insider, SpaceX paid the unnamed woman a severance agreement that was settled out of court and, as part of the deal, she was not allowed to sue the company or talk about the alleged incident. The magazine quotes an anonymous friend of the flight attendant, who it claimed had provided a signed declaration as part of the settlement process. The friend said Mr. Musk had exposed himself to the former employee – a cabin crew member on contract for SpaceX’s corporate jet fleet – in 2016 while receiving a massage from her aboard his private jet. He is said to have exposed his genitals to her, touched her leg without consent, and offered to buy her a gift if she would “do more” – referring to the performance of sex acts. The BBC has not been able to confirm these reports independently. In a series of tweets late on Thursday night, he alleged the friend quoted in the report was “a far-left activist/actress in [Los Angeles] with a major political ax to grind” – and challenged her to verify the claims by describing his intimate body parts. Nicholas Carlson, the magazine’s editor-in-chief, defended his outlet’s work, writing on Twitter: “We stand by our story, which is based on documents and interviews and speaks for itself.” Read more at bbc.com
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