Spot Futures Scams are a common occurrence on the stock market. The companies that provide these services promise investors the opportunity to make millions in a short period of time. Unfortunately, the company’s deceptive business practices have led to substantial losses for investors. These companies have not been regulated by the Securities and Exchange Commission and the National Futures Association since their founding in 1982. So, how can you protect yourself?

First, be wary of signal sellers. These companies offer information about certain trades based on supposedly professional forecasts. They often promise to make money for inexperienced traders. In addition, these companies may pose as stock brokers, investment companies, or portfolio managers. Scammers often claim that the investment offers low risks or is suitable for beginners. If you have never traded in the past, avoid working with such companies.

Next, look for the company behind the site. These companies may have a professional website and the resources to support their claims. Once you’ve invested your money, it can be impossible to get in touch with these scammers. They may pretend to be an investment firm or portfolio manager, or even the head of a legitimate trading company. Scammers may claim to be regulated by the real government, or affiliated with a genuine company. While these companies do exist, they usually operate overseas and do not hold an Australian Financial Services license.