Given your detailed insight, it prompts the question: Are brokers and casinos both just playing on human psychology, albeit in different contexts, to ensure their own profits? Where does the line between legitimate business strategy and manipulation begin to blur?
Yeah! I think that indeed brokers are, to a very large extent, psychologists who are obviously aimed at one single result in the form of receiving money from the client.
Usually a broker is presented to a person who is not experienced in matters of broker activity as such a very knowledgeable person who will not commit any stupid or rash actions with the client’s money and will definitely increase the client’s capital. On the other hand, the broker looks at the client just like a psychologist, and the main question here is how such a client will behave in case of failure. And the second question is what percentage of the profit, if successful, will this client agree to. These assessments obviously then go into deciding how the broker should communicate with such a person. And here the broker can use various manipulative tactics. He can imagine himself from a dashing cowboy who succeeds in everything, to a thoughttful and meticulous accountant in glasses who will accurately calculate everything.
Of course, I cannot call these nuances of the broker’s behavior deception, or even less call them fraud, but they are definitely a performance played out in front of the client for one single and understandable purpose.
From all this, what we must take as a lesson is that in trading, based on what trading and the market are, things are calculated and must be done this way and not left to chance, which is very different from the management that It is done in a casino, I have also seen that many brokers that are being banned, there is a large blacklist of brokers because they have a very bad reputation, they are not recommended, for that reason we are always looking for the best broker with the best of all the opinions on the part of their traders, also that some brokers make certain operations lose on purpose, and that is something that is not ethical, however, I say it very sadly because I have been in brokers like that, and it is angry that they do lose yourself through a stop loss and once they touch it they follow the normal course of the chart, as well as the broker is quite reserved regarding the right of admission to certain countries, which seems quite stupid to me, but there are brokers like that, The same thing has happened to me in forex.
With respect to cryptobrokers, I have not had much experience, because the mere fact that the KYC is very demanding, is something that bothers me, and that I do not like to go on, because in part they require many documents that are difficult to keep in mind. oncasinos and there are also others that do not accept a type of identification, it happened to me that I could not register even with my driver's license, because at that time I lost my passport, and they did not accept my registration, so it is just the case that sometimes they can They may seem very stupid but some traders like me do not recommend it to their friends, and I have many friends who trade and I tell you, do not get involved there because of the amount of things they demand, that they do, and possibly do not process a withdrawal, As happened to me recently, I have not been able to make a withdrawal of money, they do not accept a withdrawal to another account that is not mine, due to a problem that I currently have with one of those accounts.
Yeah, you are right, sometimes brokers make such cunning transaction schemes that as a result, part of the money is deliberately wasted and the client may well lose part of what he gave to the broker. And these actions cannot even be called fraud because these actions do not fall under those considered fraud in accordance with criminal law. This is interpreted by the broker as simplly failures in the transaction or a risky transaction that did not take place. And everything here is generally completely legal. All that remains is to somehow inform the client about the failure of the investment without causing any serious litigation.
I think that most brokers go through such scenarios in their activities.