How to Spot Fake Reviews and Ratings in Trading

What do people do before selecting, for example, a certain broker, Expert Advisor, or before deciding to start trading? In most cases, they start with reading other traders’ comments and opinions, compare the ratings, and so on. Unfortunately, this behavior is exploited by “bad actors” who use methods of unfair competition. From this review, you will learn about the means of manipulation, the signs of fake ratings and comments, and how to distinguish real reviews from fake ones.

How Traders Are Brainwashed: Spot a Troll

When people want to find information about trading, they often read online comments or visit topical forums. This behavior is exploited by brokers, who aim to attract traders using various tools like defaming rivals and presenting favorable comments about themselves. Dubious websites often feature broker ratings that are not what they seem.

Not all comments or rankings are fake, but distinguishing real information from manipulated content is crucial.

Are Ratings and Comments Worth Trusting?

Brokers use mind-control techniques to create positive images for themselves while tarnishing competitors' reputations. Some brokers even fund departments to monitor comments and create favorable reviews.

Rating platforms may also participate in manipulation, presenting comments as if written by traders. Often, they write positive, negative, and neutral comments for the same broker to appear credible.

Questions to Ask About Ratings:

What principles are used to create the rating?

How often is the rating updated?

Is the review platform transparent (contact details, history, etc.)?

Are there archived reviews available for verification?

Ratings based solely on clicks, or those influenced by payments from brokers, are unreliable.

Comments as a Means to Manipulate Traders

Comments are an easy and effective tool to influence traders’ perceptions. Many platforms lack mechanisms for verifying comments with supporting evidence, allowing anyone to post manipulated reviews.

Fake comments often fall into predictable patterns:

Ridiculous Claims: Errors in details about services or contradictory statements.

Staged Discussions: A mix of positive and negative comments, with representatives quickly responding to appear helpful.

Odd Timing: A sudden surge of reviews after a long period of silence.

Using plagiarism detection tools can help verify the originality of comments. Genuine reviews are often copied and pasted across multiple platforms, whereas fake ones may only appear on a single site.

Manipulation Through Forums

Forums may seem more trustworthy since they involve real people, but they are not immune to manipulation. Trolls or competitors may register multiple accounts to influence discussions.

Trolling Tactics on Forums:

Fake Discussions: Trolls create accounts to post staged conversations, shaping opinions about brokers.

Search Engine Manipulation: Key phrases in posts can boost a forum's visibility in search results, overshadowing negative reviews.

Always check the registration dates and post histories of forum participants to spot such manipulations.

Fishing as a Means of Mind Control

Some fraudulent brokers exploit familiar brand names and reviews to deceive traders. They create fake websites with similar names to trusted platforms to mislead users.

For example, fraudsters may tweak a well-known platform's name slightly and exploit its positive reputation to attract unsuspecting traders.

How to Protect Yourself from Brainwashing and Select a Reliable Broker

Although unfair practices exist, thousands of traders profit in the markets by ignoring manipulative tactics. Here are some tips:

Be Skeptical of Reviews: Verify information from multiple sources and use plagiarism checkers to identify copied content.

Scrutinize Forums: Check participants' registration dates and post histories for signs of staged discussions.

Focus on Facts: Reliable reviews should include specific data and actionable details.

Prioritize Negative Reviews: Traders are more likely to share negative experiences than positive ones, which can provide valuable insights.

Avoid Unrealistic Promises: Fast and easy profits are red flags for scams.

Tips for Choosing a Good Broker:

Assess the trading conditions—if they seem too good to be true, they probably are.

Research thoroughly, including legal disputes and transparency of operations.

Check regulatory credentials, although these are not absolute guarantees.

Test the broker with a demo account and verify withdrawal processes with a small deposit.

Conclusion

The internet is filled with both genuine and manipulated information. Forums, media, and blogs can either help you find useful data or mislead you. To avoid being brainwashed, rely on your research and personal experience.

Test brokers using demo accounts before committing real funds.

Diversify your trading across platforms and brokers to mitigate risks.