Very new, worried

Hi, I am very new to all of this and dont really know what I am doing but I think i have made a big mistake already, I stupidly joined a broker called ashford investments, I read reviews and seemed ok so deposited £250 which I have nearly lost under there management, They spent an hour on the phone yesterday telling me that i need to deposit 5000 which will give my amazing returns of 60%, obviously i might be a foul but not that much of one. I also have 250 in a broker called get financial which I have made a very small amount but concerned if this company is the same format because, they too, are calling me to invest about 5000. From what I see online is the problem start when you want to withdraw. Ashford had a withdraw request by me for the balance of 150 but didnt pay it, just kept saying i had to resend my verification information, they then talked me into using it on bitcoin /usd which made a loss. Im just wondering if any of you can let me know if I am right. Thank you for your help advance

Google is helpful -
https://www.fca.org.uk/consumers/binary-options/unauthorised-firms
https://thebestbinaryoptionsbrokers.net/nssc-warns-against-ashford-investments

“Get Financial” is harder to Google. Because the phrase turns up so often in financial web text, links concerning this company are “camouflaged”. Which would not fill me with confidence.

It doesn’t look good…

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I think I just have to put it down to a stupid mistake on my part. wish I had found this forum first. I think I will go through all the help on here before I do this again. Can anyone recommend an easy to use platform or broker that is good for a complete novice like me . Thanks

Hi @paulrob2808… With Forex you can open a Demo Account for as long as you need to learn trading without risking a single cent…And Live accounts can be opened for as little as $200.

Just ensure the Broker you choose is regulated in a country that has the least corrupt financial system. ie: Australia, UK, USA, Switzerland. Can I ask which country you are situated?.. I can aim you at “localish” brokers easier… PM me if privacy is a concern…

You will need to learn to trade first, so I suggest learning some basics via the Babypips School (Depending what knowledge you already have)

Cheers

Hi and thanks for the info, I’m in the UK . I have just emailed get financial asking for my funds as , surprise surprise, the withdraw tab has no info . Not looking good .

UK is good, you have a choice of FXPro, XM, Tickmill UK and IC Markets are a few that I would recommend looking to open a Demo account with… Forum members in the UK should be able to extend this list of reputable Brokers to get a start with…

Honestly speaking , if you need a secure and comfortable trading life with certainly should choose top reputed Fx broker but their trading environment is not suitable at all for the traders who are particularly newcomers. Minimum deposit looks always high and trading spreads too fast that’s really uncomfortable for beginners level. So, be careful when choosing a broker.

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Always choose a reputable broker that will not steel your money by cheap means. Forex is already a risky business here new comer need much guidance . They should no do high investment in start because they should know trading atmosphere by practicing . Newbies work with good broker by doing meaningful trading.

We all know that Forex is a risky business and to work here we must have trading skills and knowledge of the market movement. So the basic criteria to be in the market is knowledge of the trading.

I always try to say , any good knowledge or skill can be useless if there is no continues practicing, that’s why we the traders should emphasis on practicing besides acquiring good knowledge .

It’s a common message but thanks for the information. Learning +practicing = better earning

Firstly welcome to this competitive world of merchant. Traders here have to very alert while selecting the trading platform since trading platform can significantly effect your trading performance here. Now, what is important for us is to select the regulated broker and I don"t know much about both the brokers you have mentioned. I will suggest that forget your $250 and please don’t deposit further.

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That is the simple and easy way to learn and get an idea about how the Forex is actually worked in the market.

Its simple nothing is easy without learning. Once you are aware of nature of any business you will overcome worries . slowly one is adjusted with market when does practice of trading. Never deposit high amount first time until you are not good to manage small capital.

Post on FPA with the details! I think, they can help you.

Develop a trading plan. Once you already have a plan, be consistent in following it.

Developing a trading plan related with long term process. If you want to develop your trading plan , minimum you have to practice in demo for 5 -6 months. Otherwise the good result by your trading approach will not come at all.

Hi and thanks for the replay , I have taken advice and am running a demo trading account . I still have a gel of a lot to learn , only trading on currency at moment. Don’t really understand about margin and all that .

Agree, without the practice of your plan you cannot trade directly with the market. Because ultimately you have to check your plan first then work with it in the ereal market.