Change your broker in time.

Most beginners starting forex trading think that the most important thing is learning how to make a profit. While this is certainly true, the reliability of the forex broker they're trading with is just as important.

The financial sector carries a lot of risks, and currency trading is especially so, so your brokerage company could collapse at any moment.

There could be many reasons for this—issues with law enforcement, lack of funds, lawsuits, etc.

But the key isn't knowing the cause of the situation, but rather recognizing the approaching danger and drawing the right conclusions. The consequence could be withdrawing your funds and registering with a different broker.

 When should you change your broker?

1. As soon as you hear about their problems, no matter where the information comes from, even if it's just rumors. By switching to another company, you only lose 1-2 percent when transferring funds; by staying with your broker, you risk losing everything.

2. Delays in transfers and withdrawals – currently, funds, using modern transfer systems, take a maximum of 24 hours to process. Of course, an error can occur, but if regular delays begin to appear when requesting a withdrawal, this clearly indicates solvency issues.

Excuses such as "many requests, weekends, etc." are just that – excuses; the broker operates according to a fairly simple scheme. And a lack of funds most often indicates a deterioration in the situation, especially if delays become the norm.

3. An increase in the number of negative reviews – this could be due to a deterioration in service quality or the machinations of competitors, but it should not be ignored, especially if you yourself have noticed negative changes.

Company reorganization – if a broker has changed its name, this also reflects poorly on them. Why change an already established logo and reputation? A reliable broker typically has a solid track record.

If one or more of the above events have occurred, don't hesitate to withdraw your funds and open an account with another broker. Avoiding these issues can lead to serious problems.

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