As far as I understand, the company is obliged to provide license numbers with reference to the regulators. it can be easily checked in just a few minutes on specialized sites. If everything is OK, you can work, if not - you should look at the company more seriously, there may be problems.
Choosing a right broker is very important in forex market as it is a decentralised market. While choosing a broker, we must check the broker is A book or B book.So, I personally think one should STP brokers. After checking the broker type, the most important thing to be checked is the Spreads broker is providing along with the commission charged on the trades. We should look for a broker who provides raw spreads along with ULTRA LOW commission as it is the rare combination available and are the best kind of brokers.
If the broker is regulated, you will see all the documents with all the confirmations, etc., which can be checked through official sources. And you just need to be more careful about what you use and how.
For brokers, I seek three things: regulations, trading conditions and pricing. I don't see any point to trade with brokers if these three things does not meet.
I have opened some accounts over years and have split the funds to few brokers, not to mention I'm still very open to competitive broker be it old or new. Currently my main accounts in order including pepperstone, hotforex, IG, fxview. It's possible to find good broker for yourself if you're good in online research, and try to avoid following popular suggestion, my piece of advice.
when choosing a broker first of all we the traders have to make sure the lowest trading spreads, because the trading spreads can affect the result of our trading with certainly and from all trading instruments spreads is mainly considered as an important financial tool which an investor should consider when choosing a broker.
If the broker is regulated, you will see all the documents with all the confirmations, etc., which can be checked through official sources. And you just need to be more careful about what you use and how
In Forex trading first of all we the traders have to make sure a reliable support from a credible trading broker , because the trading broker can affects the result of our trading with certainly. We the traders can choose a broker which is more appropriate to the concept of trading that will be used; the traders who are particularly scalpers have to choose the broker which allows trading concept such as this.
Based on reviews of the regulated brokers is one way to choose a broker. Pricing, trading conditions and regulation is what matters the most to a trader. Once you have few of the brokers in your mind, make a demo account and test the broker. However, some of the good regulated brokers that you can consider are Fxview, XM and Oanda.
Anyone who is into forex trading would someday require the support of a forex broker. But that’s not the issue, the issue is finding a good regulated broker. It took me some time till I got along with Turnkey Forex, XTB and Fidelity and these brokers proved to be my best decision. I found these brokers to be highly secure with suitable brokerage. Not only this, I never had to deal with any trouble or waiting time for the deposit or withdrawal.
Always have a look on the broker's regulation, and do your research first. If a broker has more than 2 reliable regulations then it might be a good one. But always do your research first; don't believe what is written on any broker's webpage. Do your research with their company names and license numbers first.
Good brokers have an ASIC (for Australia), CySec (for Europe), NFA (for USA), ICB (for Ireland), BaFin (for Germany), FinMa (for Switzerland), IFSC (for offshore), FCA (for UK) regulation. I'd not trust any other brokers/'regulations' out there (there might still be some other good local ones, but I don't need them, that's why I don't look after such brokers with other regulations, most of them are still suspicious).
I even don't care about spreads, commissions and stuff, as long as they are not too high, as long as my TP's are hit and as long as my deposits and withdrawals are all fine.
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.
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Past performance is not indicative of future results.