This is a second part of the article written by our regular reader and a HYIPNews agent SteveyJ. Read the first one here.
When you select a broker, you must ensure that they are verified and are a true ECN/STP broker regulates brokers. Ensure your broker is FSA regulated if in the UK, or a similar equally strong regulatory authority if in another country.
You must expect to be asked to open an account with a minimum of perhaps $10,000. This allows a trader to trade with realistic funds which therefore allows you to lose some money sometimes, in the expectation that your gradually increasing pot of money means that trades placed increase in their value and therefore your profit increases. This then is what gives the trader the incentive to work hard because they really don't make any money unless they make you money and continue to do so.
I hope readers find all the above informative and helpful in being able to identify when a HYIP is telling the truth.