Fake Financial Advisor’s in India
Who are Financial Advisor’s?
A person who provides advice to investors to trade in the stock market, forex, commodities, mutual funds and various financial instruments is called as financial advisor. In today’s world, there are lots of financial advisor’s due to several new investors who trade in the stock market.
Whenever the market volume is high or large number of traders involve in trading of stock, currency and commodity the financial advisors who provides tips and recommendations will get increased. But as of now the volume in NSE, MCX and NCDEX are trading at a low volume. Then how come financial advisors get increased by providing recommends tips, buy and sell software’s and auto trading?
The reason behind this is they can earn more by providing these types of advices than trading. They know it will not be easy to earn by trading. So without investing more they are earning by fooling the new investors and traders. Investors don’t tend to learn anything. Even if they try to learn they are not choosing a suitable person. Capitalizing on these things there arise a large number of fake financial advisors who knows something about the market. The different type of losses they faced is their asset. The Last month trader is the current month advisor. You can believe the market, but not these fake financial advisors.
How to Find Fraud Tips Providers?
We can easily find these types of recommending providers, but the traders are not showing interest in finding these types of fake financial advisors. The traders are investing more money and should be careful in each and every thing in the market. They will show 90 % accuracy or 95% accuracy or past performance history or old tips profit margin on their website. Do not believe that and try to ask the trading statement and ledger balance of one or two years. If they show that then go and check in live.
If they are commodity tips provider, then ask for their or client’s trading statement and ledger balance of one or two years. If they are future and options tips provider or equity tips provider asks for the trading statement and ledger balance respectively. If they show their trading statement and ledger balance, then you can get tips from them. The Rest of them who do not show these statements are fake financial advisors.
Who is the Real Financial Advisor?
Belief in one thing the person who tells the path to victory is not a successful person instead who succeed on that path is a successful trader. You can follow whom you believe as said by us. Do not always find fault on tips providers, there are few good financial advisors in the market. You have to find and follow them.
“Cheating Tips Providers in India”
Tips providers will charge 20,000 or 40,000 per month for providing tips to investors because they need to make you feel that their tips will be correct. As per human mentality, if the price is more than the quality will be good.
They will say stop loss at one price and target at three prices. For example, they will say buy ICICI Bank at 900 and Stop loss be 890 and Target 1 905, Target 2 910, Target 3 915. If the price of ICICI bank reaches 905 and go back to 890 the stop loss will get triggered. They will say target 1 achieved. This is not a correct way they should say one price for stop loss and one price for the target. Some tips providers will say partially book profit, but that is a wrong one. Those are also fake financial advisors.