colininghrams posted: Regulations does matter, but there's another crucial thing. I mean how hard can it be to get a piece of stamped paper! I think it’s also important to look into the history of the broker. See the number of transactions undertaken, the founders history, things like that.
Both are necessary! History and regulations! Otherwise how much can a history also tell. Who knows future intentions!
Just stick to regulated brokers, play safe. As it is trading is so risky, markets are an unknown sphere. Some peace of mind with regulated ones won’t do any harm if no good. I have dealt in the past with scams so I can tell you from experience that brokers that have a record to show are better. Now I am using XTB and Fxview but in the past brewed a lot of trouble for myself with names known only to me.
Pointingmark posted: Frankly, I don’t know the name Fxview, should I be scared for you?
Thanks for your concern but I am good. I have been using them for over a year now almost completing 2 years with them, and if there was any reason to be scared of, I suppose by now it would have revealed itself to me. I am absolutely satisfied with both.
It will be interesting. After all, each of us has so different preferences and views that we will certainly be able to gain new experiences through this. Each trader is a big personality and now you can see it!
Shelby10 posted: Trading is not a casino. Here it is possible to set stop loss and profit level. If you want to earn 2% per month, then trading is possible. If you work according to the plan, the chances of loss are less. If a trader works according to the rules, then one day he will get success from trading. But money management and risk management have to be maintained.
I completely agree with you. You need to be very careful in this risky market.
Regulation in forex ensures that clients are cushioned and regulated brokers are less likely to cheat traders. I have already borne the brunt of trading with an offshore broker before and can't take that risk ever again. Right now using regulated brokers only Xm and recently opened an account with fxview. Trading happily and safely.
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