Rating: Full Star Full Star Full Star Full Star Full Star
How to choose a regulated forex broker?
Previous 1 2 3 4 5 6 Next
AmDiab

Member Since Apr 18, 2017  534 posts AmDiab Apr 26 at 11:56
darisa posted:
Brokers from AU offer good conditions for trading and leverage 1:500grin


So you are comfortable with 1:500 trading leverage, isn’t? Then what’s your risk reward ratio?

Treeny

Member Since Feb 08, 2019  80 posts Treeny Apr 28 at 11:38
Korich posted:
Treeny posted:
Not so sure about Pepperstone these days....


Why are you not so sure about pepperstone these days? I use to use them and thought that they were very good. Are they not so good anymore?


Lots of negative press on social media about disputed payments and platform freezes etc. Do a search on Facebook and Twitter and you'll see what I mean

AniLorak

Member Since Apr 18, 2017  698 posts AniLorak Apr 29 at 18:54
Treeny posted:
Korich posted:
Treeny posted:
Not so sure about Pepperstone these days....


Why are you not so sure about pepperstone these days? I use to use them and thought that they were very good. Are they not so good anymore?


Lots of negative press on social media about disputed payments and platform freezes etc. Do a search on Facebook and Twitter and you'll see what I mean


Whatever; I think we should consider the popular review sites as much as possible; social media is not reliable.

joha51

Member Since Sep 09, 2015  8 posts joha (joha51) May 14 at 11:55
I believe everyone will consider a security of deposit therefore FCA broker will suit for that reason. To avoid scam broker..that is my personal opinion

Specific examples of the latest and upcoming FCA regulations also include:

An ability to ban products for up to a year as it considers a lifetime ban
Implementing maximum leverage limits and ensuring appropriate risk warnings
Using the Financial Services Compensation Scheme to afford retail clients up to £30,000 if an FCA regulated forex broker goes bankrupt. Customers may also get 90% of the next £20,000. However, it cannot promise compensation on more than £50,000, which is still greater than EU bodies.

Joha AL fath
Imamul

Member Since Aug 09, 2017  324 posts Imamul May 14 at 12:27
We the traders should choose the brokers in cool mind, we have to choose the broker which is more appropriate to the concept of trading of trading that will be used , the traders who are particularly scalpers have to choose the broker which allows trading concept such as this.

Q_FxTrader

Member Since Oct 08, 2018  141 posts Q_FxTrader May 14 at 14:10
While choosing a forex broker definitely a broker being regulated is the first criteria to look for. It may not be easy, but not impossible to find out whether a broker is regulated or not.

Usually a regulated broker provides its regulation details, license number etc on the website which someone can verify by further visiting the regulator's website.

But being regulated is not enough since now a days many forex brokers use very fine tuned and sophisticated techniques in the back end to not be noticed by the traders while manipulating price feed in individual accounts to make the trader loose money.

One of the guaranteed ways to notice these things is by live monitoring of automated trades while opening and closing of trades in your account and to check how the trades are getting opened and closed at what price and how much slippage, spread variation and execution delay you are getting etc.

Finally, of course the broker must allow to withdraw profits. But if you have chosen a correct regulated broker, then it should not be an issue.

@
AniLorak

Member Since Apr 18, 2017  698 posts AniLorak May 15 at 07:17
Q_FxTrader posted:
While choosing a forex broker definitely a broker being regulated is the first criteria to look for. It may not be easy, but not impossible to find out whether a broker is regulated or not.

Usually a regulated broker provides its regulation details, license number etc on the website which someone can verify by further visiting the regulator's website.

But being regulated is not enough since now a days many forex brokers use very fine tuned and sophisticated techniques in the back end to not be noticed by the traders while manipulating price feed in individual accounts to make the trader loose money.

One of the guaranteed ways to notice these things is by live monitoring of automated trades while opening and closing of trades in your account and to check how the trades are getting opened and closed at what price and how much slippage, spread variation and execution delay you are getting etc.

Finally, of course the broker must allow to withdraw profits. But if you have chosen a correct regulated broker, then it should not be an issue.


Smart answer! I see, you have added few good points! Nice job mate; just keep it up.

sgtmarkets

Member Since Mar 01, 2017  10 posts SMD Ashik (sgtmarkets) May 21 at 13:44
Mohammadi posted:
Choosing a broker is a dedicated decision, so it should be in cool mind. If you choose broker with an emotional state, there is a chance to choose wrong something.



Hey, great said. Here has also other factors to choosing a trusted broker https://www.topasiafx.com/blogs/how-to-choose-best-forex-brokers-2019

sharifsajir03@
Molodicar

Member Since Apr 29, 2019  4 posts Molodicar May 22 at 05:40
There are a lot of factors to consider when choosing a broker but the top consideration is that it is regulated and regulated in a decent legal area like US or Australia

AniLorak

Member Since Apr 18, 2017  698 posts AniLorak May 22 at 07:39
Molodicar posted:
There are a lot of factors to consider when choosing a broker but the top consideration is that it is regulated and regulated in a decent legal area like US or Australia


Absolutely; regulation is the main parameter and as you said; the source of regulation is very vital to consider.

Previous 1 2 3 4 5 6 Next
Commonwealth Bank Manufacturing PMI (18h 32min)
Crude Oil Weekly Technical Outlook: Pric...(26 min ago)
EURUSD 1.1019 GBPUSD 1.24675
USDJPY 107.551 USDCAD 1.32646

Tools

Community

Reviews

Brokers

Platform

Support


Twitter |  Facebook |  Site Map  |  Terms  |   Privacy Policy
©2019 Myfxbook Ltd. All Rights Reserved.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice. Past performance is not indicative of future results.