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What safety measure I need to take before choosing any forex broker?
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marnuslabushane

Member Since Oct 06, 2020  24 posts marnuslabushane Nov 05 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  19 posts colininghrams Nov 05 at 12:46
Regulations, very important !

marnuslabushane

Member Since Oct 06, 2020  24 posts marnuslabushane Nov 05 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  19 posts colininghrams Nov 06 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  24 posts marnuslabushane Nov 06 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  18 posts Adamgylicrist Nov 06 at 09:13
How would it help?

marnuslabushane

Member Since Oct 06, 2020  24 posts marnuslabushane Nov 06 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.

StewGriff

Member Since Jul 28, 2020  1 posts StewGriff Nov 06 at 14:48
A reputable country with a good regulatory body.

Jakemark

Member Since Oct 23, 2020  20 posts Jakemark Nov 07 at 03:57
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.

Jakemark

Member Since Oct 23, 2020  20 posts Jakemark Nov 07 at 08:21
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.

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