Not sure about unregulated, take this recent incident of paxforex. Their domain got banned and imagine the trauma their clients must've had to face. According to me, it is always best to go with regulated ones like Fxview or ICM or XM. They are trusted and safe.
If you want your funds not to end up taken away from you, my suggestion is to go for regulated broker. You can look into myfxbook spreads link and click on regulated option and choose mentioned brokers
The basic and the most visible function of foreign exchange market is the transfer of funds (foreign currency) from one country to another for the settlement of payments. It basically includes the conversion of one currency to another, wherein the role of FOREX is to transfer the purchasing power from one country to another. And traders make profit in the price gap created by simply and demand of a currency.
i;ve been with regulated brokers (not if the first class) they are kidna good. just switched my accounts to saxo and oanda. nothign beats them, they are more expensice based on comitions ans spread but dont care.
customers service, suppport, security, are top notch. + a ton of extra features that no one esle has.
I prefer trading with a regulated broker rather than an unregulated one because regulated brokers are much more reliable, and a government authority regulates it. Hence, traders feel that their invested capital safe.
Actually most new traders are introduced to forex trading by saying if you learn some indicators, you will make huge profit. Even there are more ridiculous introduction of trading, for example, If you price goes up sell if price goes down buy.
Of course it is important to choose a regulated broker. However maybe you dun know that some countries are banned from some particular brokers. Therefore, you have to know which broker is suitable to you...
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.