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BenNathanFX

Member Since Sep 06, 2013  137 posts Ben Nathan (BenNathanFX) Jan 13 2016 at 11:26
In terms of brokers - do you homework - check their regulations, then go to the regulatory body and check that brokers profile for history and fines. Finally, make sure they arent listed as a scam broker by FPA and then you are good to go

HOLY GRAIL: Fundamental Analysis to chose your pairs/direction, Technical Entry/SL/TP for consistent Management of those decisions
BellaVista507

Member Since Jan 19, 2013  251 posts BellaVista507 Jan 13 2016 at 11:34
deresel posted:
mlawson71 posted:
The Italian financial watchdog Consob warned about six new entities to their list of forex and binary options brokers unauthorized to operate in the country – BestCopy, LHCbrokers, Oklycapital, Amf Capital, Ampha Management, and St. World Trade. (Source: https://www.forexbrokerz.com/news/italy-consob-warns-six-unauthorized-forex-binary-options-brokers)


Thank you for the useful information!

Same in Belize: The International Financial Services Commission of Belize (IFSC), Belize’s financial regulatory body, recently issued a warning notice against forex broker Financial Strategy Holdings saying its operation is “a complete forgery”.
The regulator said the above mentioned broker has not been licensed in Belize and is not allowed to conduct trading activities in the country.

The IFSC asks in the notice for information from anyone contacted by representatives of Financial Strategy Holdings.

Source: https://www.forexbrokerz.com/news/belize-watchdog-says-newtradefx-forex-broker-complete-forgery


 The reality is brokers, and all of them can become 'scams'. A broker can go under, and even if they are regulated you still won't get your funds unless the regulatory agency recovers what was lost, or if restitution was given. Don't get me wrong, regulation makes you sleep good at night, and some people like the fact that they can file claims if something goes wrong, but the reality is you aren't any safer then you are if you traded in a bucketshop.

mlawson71

Member Since Dec 11, 2015  1487 posts mlawson71 Jan 13 2016 at 12:53
I think regulation makes us safer in the sense that if you file a complaint against a scammer at an agency which has official authority to regulate the market and that agency then exposes the scammer, the information becomes so much more widely available to newbies who may buy into the scam otherwise. I mean, the word of an official watchdog agency carries a lot more weight than an anonymous review written somewhere else. Also, one of the first things a person researching the broker they'd like to work with does (or that's what they should do, at least) is to check such official blacklists. So people looking for such information can both easily find it and, hopefully, trust it.

dianajs

Member Since Dec 09, 2015  823 posts dianajs Jan 17 2016 at 09:53
Well, speaking of official warnings and scammers, I also have this: FCA warned that Ayondo Markets Ltd is a clone firm of FCA-licensed social trading company ayondo markets Limited (https://theforexreview.com/2016/01/08/fca-warns-of-clone-of-social-trading-broker-ayondo-markets/) The clone is using information about the genuine broker to make themselves look legitimate, although they have nothing to do with he original. I actually took a look at both their sites, and they look chillingly similar. They even use the same logo. To be honest, if I were a newbie, I'd totally buy the scam. I might've even bought it now, if I weren't warned.

trendfollowers

Member Since Dec 22, 2015  276 posts trendfollowers Jan 17 2016 at 11:46
Wow... This block counter really reveals so much and confirms so many suspicions. Really a fantastic feature.!

If you want to go fast, go alone. If you want to go far..Go together..
rahiths

Member Since Oct 31, 2013  98 posts rahiths Jan 17 2016 at 14:36
Anybody using Ticmill

A trader can be an economist but an economist could never be a trader. They are too theoretical.
BellaVista507

Member Since Jan 19, 2013  251 posts BellaVista507 Jan 17 2016 at 15:22
rahiths posted:
Anybody using Ticmill


 I have a client who uses tickmill. VERY VERY VERY GOOD BROKER!

rahiths

Member Since Oct 31, 2013  98 posts rahiths Jan 17 2016 at 17:37
BellaVista507 posted:
rahiths posted:
Anybody using Ticmill


 I have a client who uses tickmill. VERY VERY VERY GOOD BROKER!


Thanks man but i still confuse about their regulatory system

A trader can be an economist but an economist could never be a trader. They are too theoretical.
rob559

Member Since Feb 11, 2011  1916 posts rob559 Jan 17 2016 at 17:52
rahiths posted:
Anybody using Ticmill


been using them for 4 years ,before armada ,they are the best i'v used so far

rahiths

Member Since Oct 31, 2013  98 posts rahiths Jan 17 2016 at 17:58
rob559 posted:
rahiths posted:
Anybody using Ticmill


been using them for 4 years ,before armada ,they are the best i'v used so far


But you are using Demo

A trader can be an economist but an economist could never be a trader. They are too theoretical.
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