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

Member Since Jun 23, 2020  29 posts davidkew Nov 11 at 04:06
Rosstaylorr posted:
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.
withdrawals are a bliss with fxview. Mine took just one day!

marnuslabushane

Member Since Oct 06, 2020  24 posts marnuslabushane Nov 11 at 06:52
davidkew posted:
Rosstaylorr posted:
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.
withdrawals are a bliss with fxview. Mine took just one day!
do traders have much reasons to trust it, given it is unseen by a majority of pro traders?

feelsofine

Member Since Dec 09, 2019  37 posts feelsofine Nov 13 at 12:28
marnuslabushane posted:
davidkew posted:
Rosstaylorr posted:
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.
withdrawals are a bliss with fxview. Mine took just one day!
do traders have much reasons to trust it, given it is unseen by a majority of pro traders?

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.

marnuslabushane

Member Since Oct 06, 2020  24 posts marnuslabushane Nov 17 at 04:35 (edited Nov 17 at 04:35 )
feelsofine posted:
marnuslabushane posted:
davidkew posted:
Rosstaylorr posted:
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.
withdrawals are a bliss with fxview. Mine took just one day!
do traders have much reasons to trust it, given it is unseen by a majority of pro traders?

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.


This is the first thing that every professional is recommending me, are there specific regulations for Europe I need to keep in mind?

marco_mmbiz

Member Since Jul 20, 2019  294 posts marco_mmbiz Nov 17 at 12:55
marnuslabushane posted:
feelsofine posted:
marnuslabushane posted:
davidkew posted:
Rosstaylorr posted:
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.
withdrawals are a bliss with fxview. Mine took just one day!
do traders have much reasons to trust it, given it is unseen by a majority of pro traders?

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.


This is the first thing that every professional is recommending me, are there specific regulations for Europe I need to keep in mind?


The biggest ones are ESMA in Europe. Cysec is regulated under ESMA as far as I know.
But you always need to make sure that the broker who's offering accounts under EU-regulation also must give you a proper account then. The broker is not allowed to give you an account with T&C's out of Europe. A lot of offshore and ASIC brokers are known for giving accounts that are not regulated in Europe, although on their pages it is said they also have a Cysec license. How do you know that? Just have a look on the registration-link; it usually contains something like '.eu', 'com/eu', '.eu.xyz.com'.

patience is the key
marnuslabushane

Member Since Oct 06, 2020  24 posts marnuslabushane Nov 19 at 05:57
marco_mmbiz posted:
marnuslabushane posted:
feelsofine posted:
marnuslabushane posted:
davidkew posted:
Rosstaylorr posted:
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.
withdrawals are a bliss with fxview. Mine took just one day!
do traders have much reasons to trust it, given it is unseen by a majority of pro traders?

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.


This is the first thing that every professional is recommending me, are there specific regulations for Europe I need to keep in mind?


The biggest ones are ESMA in Europe. Cysec is regulated under ESMA as far as I know.
But you always need to make sure that the broker who's offering accounts under EU-regulation also must give you a proper account then. The broker is not allowed to give you an account with T&C's out of Europe. A lot of offshore and ASIC brokers are known for giving accounts that are not regulated in Europe, although on their pages it is said they also have a Cysec license. How do you know that? Just have a look on the registration-link; it usually contains something like '.eu', 'com/eu', '.eu.xyz.com'.

now that's something no one pays attention to. Thanks for sharing this knowledge, much appreciated

DoraWalletInvest

Member Since Aug 17, 2020  96 posts DoraWalletInvest Nov 19 at 07:37
Apart from the regulations and withdrawal, you should also check out transaction costs and execution speed when you are choosing a platform. Trying the demo account of a broker before you sign up for a real account might also be a good idea.

marnuslabushane

Member Since Oct 06, 2020  24 posts marnuslabushane Nov 20 at 11:36
DoraWalletInvest posted:
Apart from the regulations and withdrawal, you should also check out transaction costs and execution speed when you are choosing a platform. Trying the demo account of a broker before you sign up for a real account might also be a good idea.

I bet almost every trader has concerns with the executions.

Jakemark

Member Since Oct 23, 2020  20 posts Jakemark Nov 21 at 04:47
marnuslabushane posted:
do traders have much reasons to trust it, given it is unseen by a majority of pro traders?


I don’t think it’s that unseen anymore, have seen it doing the rounds on other forums, mostly users speaking of its low spreads. Besides fxview also noticing octafx a lot. Any good?

colininghrams

Member Since Oct 07, 2020  19 posts colininghrams Nov 21 at 09:30 (edited Nov 21 at 09:31 )
marnuslabushane posted:
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.


Demo accounts do tell a lot about a broker. I spent 4 months on Schwab before going live with them. Found their customer service and order execution quite all right. Never ever choose a broker before practicing on them with virtual money.

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