marnuslabushane
Member Since Oct 06, 2020
40 posts
Nov 05 2020 at 11:59
A starter just about to test the waters of forex trading. Having a broker might ease a couple of things for me but I am concerned about the safety. What I need to check before picking anyone?
colininghrams
Member Since Oct 07, 2020
29 posts
Nov 05 2020 at 12:46
Regulations, very important !
marnuslabushane
Member Since Oct 06, 2020
40 posts
Nov 05 2020 at 13:09
Looking for a broker in Europe! What regulations should one check in a european broker, there seems to be too many.
colininghrams
Member Since Oct 07, 2020
29 posts
Nov 06 2020 at 05:00
In short you have to look for the broker which is being regulated by local authorities like FINMA in Switzerland, FSA in Denmark, AMF in France, CNWV in Spain,FMA in Austria, MFSA in Malta, CySEC in Cyprus etc. Similarly if a broker needs to undertake financial services in the UK, it has to be authorized by FCA.
marnuslabushane
Member Since Oct 06, 2020
40 posts
Nov 06 2020 at 06:07
Always go with a broker that gives you the option of a free demo account. This will not only give you exposure to the forex market (if you are starting anew) but will make you familiar with the broker and its platform.
Adamgylicrist
Member Since Oct 19, 2020
38 posts
Nov 06 2020 at 09:13
How would it help?
marnuslabushane
Member Since Oct 06, 2020
40 posts
Nov 06 2020 at 11:07
I believe, the more you engage on the platform of the broker the more you understand them. Generally their interface and the customer support services tell you a lot about the brokers.
A reputable country with a good regulatory body.
You need to make sure your money transaction is safe with the broker. Your broker should have detailed information about the security parameters they follow. You should check online at their site before investing your money.
For me it is the withdrawal process, generally it is quite an underrated factor and overlooked by new traders. Seasoned traders will know how some brokers take quite long to process withdrawal and resort to unfair trade practices.
Davidtaylorr
Member Since Oct 23, 2020
31 posts
Nov 09 2020 at 03:58
If you are looking for a broker in Europe, I would suggest going for a broker regulated by European authorities.
Mathewshayden
Member Since Oct 23, 2020
41 posts
Nov 09 2020 at 07:04
You need to check the licence and registration of your broker.
Maxwelljoe
Member Since Oct 08, 2020
29 posts
Nov 09 2020 at 09:21
Forex broker license in Europe is unique in relation to other global countries. I say this because the broker with the license can serve any member country. CySec, the regulatory body of Cyprus, is one of the most recognized regulators in Europe.
For a client the security of money deposited is the utmost important thing. Many brokers have a separate account for the client’s deposit money. Do carefully read about your broker before opting them. In this case even if the broker goes broke your money is safely deposited in a different account.
Garrywilson
Member Since Oct 15, 2020
37 posts
Nov 10 2020 at 10:28
There is a limit for the protection amount.
Rosstaylorr posted:withdrawals are a bliss with fxview. Mine took just one day!
It’s crazy how some brokers take only 2 or 3 days to process withdrawals while some can take a whole week. Better obviously to use ones that are speedier in this regard, fxview and XTB imo are fast when it comes to withdrawals.
marnuslabushane
Member Since Oct 06, 2020
40 posts
Nov 11 2020 at 06:52
davidkew posted:do traders have much reasons to trust it, given it is unseen by a majority of pro traders?Rosstaylorr posted:withdrawals are a bliss with fxview. Mine took just one day!
It’s crazy how some brokers take only 2 or 3 days to process withdrawals while some can take a whole week. Better obviously to use ones that are speedier in this regard, fxview and XTB imo are fast when it comes to withdrawals.
feelsofine
Member Since Dec 09, 2019
60 posts
Nov 13 2020 at 12:28
marnuslabushane posted:Not necessarily maybe the broker in relatively new and we've haven't heard of it yet. Shouldn't judge. btw visited the site looks legit they've got couple of EU regulation.davidkew posted:do traders have much reasons to trust it, given it is unseen by a majority of pro traders?Rosstaylorr posted:withdrawals are a bliss with fxview. Mine took just one day!
It’s crazy how some brokers take only 2 or 3 days to process withdrawals while some can take a whole week. Better obviously to use ones that are speedier in this regard, fxview and XTB imo are fast when it comes to withdrawals.
marnuslabushane
Member Since Oct 06, 2020
40 posts
Nov 17 2020 at 04:35
feelsofine posted:marnuslabushane posted:Not necessarily maybe the broker in relatively new and we've haven't heard of it yet. Shouldn't judge. btw visited the site looks legit they've got couple of EU regulation.davidkew posted:do traders have much reasons to trust it, given it is unseen by a majority of pro traders?Rosstaylorr posted:withdrawals are a bliss with fxview. Mine took just one day!
It’s crazy how some brokers take only 2 or 3 days to process withdrawals while some can take a whole week. Better obviously to use ones that are speedier in this regard, fxview and XTB imo are fast when it comes to withdrawals.
This is the first thing that every professional is recommending me, are there specific regulations for Europe I need to keep in mind?