1/ Lack of regulation: newly created trading platforms may lack scrutiny and supervision by regulatory bodies. Lack of regulation may lead to potential scam behavior or improper operation.

2/ Potential scam risk: due to the lack of regulation, new platforms are more likely to commit scam, such as falsifying transactions and data, promising unrealistically high returns to lure investors into investing, and preventing investors from withdrawing their funds. Some anonymous scam brokers will also continue to cheat by creating new platforms.

3/ Transaction risk: the new platform has not yet been fully tested by the market and customers in terms of technology, liquidity, trading environment and service quality, and the trading risk is extremely high.

Therefore, FxGecko recommends that you always perform due diligence and verify information about the trading platform's qualifications before investing.

Stay away from new, unregulated, low-rating and high-risk trading platforms to avoid potential scams.

You can check the regulatory information and risk information of brokers worldwide on the FxGecko app.

Also, you can file a complaint or ask about any suspicious trading platforms on the FxGecko app.

Click here to recognize common investment trading scams to avoid being scammed.

Click here to see how to check if a broker is safe and what to do if you encounter a scam broker.