What safety measure I need to take before choosing any forex broker?
Mitglied seit Oct 07, 2020
29 Posts
Nov 05, 2020 at 12:46
Regulations, very important !
Mitglied seit Oct 07, 2020
29 Posts
Nov 06, 2020 at 05:00
In short you have to look for the broker which is being regulated by local authorities like FINMA in Switzerland, FSA in Denmark, AMF in France, CNWV in Spain,FMA in Austria, MFSA in Malta, CySEC in Cyprus etc. Similarly if a broker needs to undertake financial services in the UK, it has to be authorized by FCA.
Nov 11, 2020 at 04:06
Rosstaylorr posted:withdrawals are a bliss with fxview. Mine took just one day!
It’s crazy how some brokers take only 2 or 3 days to process withdrawals while some can take a whole week. Better obviously to use ones that are speedier in this regard, fxview and XTB imo are fast when it comes to withdrawals.
Mitglied seit Jul 20, 2019
373 Posts
Nov 17, 2020 at 12:55
marnuslabushane posted:feelsofine posted:marnuslabushane posted:Not necessarily maybe the broker in relatively new and we've haven't heard of it yet. Shouldn't judge. btw visited the site looks legit they've got couple of EU regulation.davidkew posted:do traders have much reasons to trust it, given it is unseen by a majority of pro traders?Rosstaylorr posted:withdrawals are a bliss with fxview. Mine took just one day!
It’s crazy how some brokers take only 2 or 3 days to process withdrawals while some can take a whole week. Better obviously to use ones that are speedier in this regard, fxview and XTB imo are fast when it comes to withdrawals.
This is the first thing that every professional is recommending me, are there specific regulations for Europe I need to keep in mind?
The biggest ones are ESMA in Europe. Cysec is regulated under ESMA as far as I know.
But you always need to make sure that the broker who's offering accounts under EU-regulation also must give you a proper account then. The broker is not allowed to give you an account with T&C's out of Europe. A lot of offshore and ASIC brokers are known for giving accounts that are not regulated in Europe, although on their pages it is said they also have a Cysec license. How do you know that? Just have a look on the registration-link; it usually contains something like '.eu', 'com/eu', '.eu.xyz.com'.
patience is the key
Mitglied seit Aug 17, 2020
123 Posts
Nov 19, 2020 at 07:37
Apart from the regulations and withdrawal, you should also check out transaction costs and execution speed when you are choosing a platform. Trying the demo account of a broker before you sign up for a real account might also be a good idea.
Mitglied seit Oct 07, 2020
29 Posts
Nov 21, 2020 at 09:30
(bearbeitet Nov 21, 2020 at 09:31)
marnuslabushane posted:
Always go with a broker that gives you the option of a free demo account. This will not only give you exposure to the forex market (if you are starting anew) but will make you familiar with the broker and its platform.
Demo accounts do tell a lot about a broker. I spent 4 months on Schwab before going live with them. Found their customer service and order execution quite all right. Never ever choose a broker before practicing on them with virtual money.
Mitglied seit Oct 07, 2020
29 Posts
Dec 01, 2020 at 12:41
People still fall for such stuff I’m shocked!!!
Mitglied seit Oct 07, 2020
29 Posts
Dec 02, 2020 at 08:12
if i was you i would choose the oldest here: icm
Mitglied seit Jun 09, 2020
36 Posts
Dec 04, 2020 at 12:25
Marshalsam877 posted:It is quite justified to feel restless when withdrawals are not on time. I did somersaults when my first withdrawal took 4 days when the broker had clearly said it wouldn't take more than 2.
Easy deposits and withdrawals are an important part of my trading. I feel so restless when I can withdraw my money quickly.
Mitglied seit Sep 30, 2020
28 Posts
Dec 09, 2020 at 03:56
Different funding and withdrawal methods should also be taken into consideration. For instance not all brokers accept crypto, or credit cards.
Mitglied seit Oct 07, 2020
29 Posts
Dec 09, 2020 at 07:18
I do tend to put my withdrawal request on Fridays. Will do it on Monday next time and see. Thanks
Mitglied seit Oct 01, 2020
37 Posts
Dec 09, 2020 at 10:40
Attaboy! Gosh you must be ultra new to trading to not be aware of this
forex_trader_745947
Mitglied seit Jul 08, 2019
57 Posts
Dec 09, 2020 at 18:25
First, learn to trader
Mitglied seit Jun 09, 2020
36 Posts
Dec 10, 2020 at 10:36
People also know that third parties sometimes cause the delay, like your concerned bank. From broker’s end processing happens very fast. But why is this such a big issue. If you are using a regulated licensed broker, like the one in question here pepperstone or fxview, you can be rest assured.
Mitglied seit Jul 09, 2020
4 Posts
Dec 10, 2020 at 13:30
Now which one did you have an issue with and what. Sharing names always helps others.
Mitglied seit Jul 09, 2020
34 Posts
Dec 22, 2020 at 07:16
1 Regulation
2 Trading conditions
3 Online reviews
I look for all these things while choosing a broker.
2 Trading conditions
3 Online reviews
I look for all these things while choosing a broker.
