Experiences with regulated firms
forex_trader_1955784
Mitglied seit Sep 30, 2020
13 Posts
Nov 23, 2020 at 04:01
What about sharing stories with your brokers given they were regulated and you still had concerns?
I would be a good listener here and won’t be jumping in much.
Appreciate your responses.
I would be a good listener here and won’t be jumping in much.
Appreciate your responses.
Mitglied seit Jul 09, 2020
34 Posts
Nov 26, 2020 at 11:40
Initially when I started trading, the broker I joined in the beginning (don’t wanna name them here now) seemed good to me, showcasing suitable conditions and they were regulated of course but i did not like their services at all, queries went unresolved no support answerable and latency was major issues and it was difficult to regain the trust over brokers again. But fortunately, my perception changed after I came across fxview. The broker's support is what impressed me. As i was very cautious and questionable at every step, they were able to handle my queries well.
I'd say all in all, most of us come across such brokers and then loose our trust, but we should be aware, its not the same with every broker.
I'd say all in all, most of us come across such brokers and then loose our trust, but we should be aware, its not the same with every broker.
Nov 26, 2020 at 14:09
Now there are so many brokerage companies and offers from them that you can easily go crazy. But in practice, half of the offered services do not attract attention at all. I am not very happy with it, because it focuses attention on some unnecessary things.
Mitglied seit Oct 15, 2020
59 Posts
Nov 27, 2020 at 10:53
For me even if the broker is well regulated, their smooth deposit and withdrawal policies are the areas that I look for. As there are many brokers in the market that claim to be well regulated but lack in basic services like these.
Impossible FX (vortexz)
Mitglied seit Apr 22, 2018
6 Posts
Nov 27, 2020 at 11:20
Always trade with strong regulated brokers
Mitglied seit Nov 07, 2020
15 Posts
Nov 27, 2020 at 13:22
With so many brokers in the market, finding a good one catering to all of your requirements is a difficult task. You will have to compromise with one or the other area of the broker.
Mitglied seit Oct 07, 2020
29 Posts
Dec 01, 2020 at 09:26
Sense of security and peace of mind you get with a regulated broker is something that I give the highest weightage while opting for a broker. Until you get the confidence that your money is safe, even after losing some trades, you can't keep the momentum going in this field of trading.
Mitglied seit Oct 13, 2020
34 Posts
Dec 02, 2020 at 07:55
Checking the background of the broker is very important, like their partners and all. The ones you’ve mentioned (cmc markets, fxview) seem alright to me. Both are FCA regulated.
Mitglied seit Oct 15, 2020
37 Posts
Dec 02, 2020 at 11:11
Tell me about it! Now when I think of it I feel so silly but at that time when I received those rosy emails with testimonials of 100s of happy clients I was only seeing green. Quite stupidly deposited 2k in an anonymous trading account and deposited 500 more to apparently withdraw my “guaranteed” profit of 10. To top it all the recovery agents turned out to be utterly useless!
Mitglied seit Jun 29, 2020
28 Posts
Dec 02, 2020 at 12:42
Doesn't the ‘regulator’ mean that the broker is paying some contribution for the membership of a regulator. I don't think regulation gives any extra security to the trader.
Mitglied seit Nov 27, 2020
3 Posts
Dec 03, 2020 at 04:13
New to trading, can anyone explain to me how the forex broker regulations work in Europe. How are Cysec regulated brokers?
Mitglied seit Oct 01, 2020
49 Posts
Dec 03, 2020 at 10:44
The forex regulation in europe comes under the guidelines of MiFID, hence all the EU members follow the same set of rules and regulations. I have been using Fxview for the last few years, BTW its Cysec regulated and my experience with them has been smooth till now. I have tried other brokers also, regulated in different EU countries and with none of them I found any issue. In short, if you are looking for a new broker always go for a regulated one.
Mitglied seit Jun 29, 2020
38 Posts
Dec 04, 2020 at 11:13
I am such a paranoid freak that I can’t even imagine using a broker that is not regulated. My fiancee is still surprised that I have started trading :) he cannot believe that I can get into something which has even an inch of risk, so the fact that I am trading is a bit of a shocker for him, even now after 4 years! I always advise others to only use regulated brokers, why give anybody a chance to scam us.
Mitglied seit Jul 03, 2020
37 Posts
Dec 04, 2020 at 13:20
Thank you for this thread. I am so glad that I gave in to my friend’s pushes and opened a forex trading account. It has been precisely 5 months of trading in total for me, including 20 days of demo, and I have made more money than I did in a year of doing stupid jobs. I was spending more to keep myself entertained earlier than I was saving. And now all the money I earn while trading currencies on Fxview just go into savings. I know about the risks involved but if you are careful with your trades and have a well defined plan, there's only going to be gain.
Mitglied seit Aug 17, 2020
123 Posts
Dec 04, 2020 at 17:41
I haven't had any bad experiences with regulated brokers. I'm sure not all of them are perfect, but they are definitely a safer choice than unregulated ones.
Mitglied seit Oct 15, 2020
59 Posts
Dec 07, 2020 at 09:53
CanoeMussy posted:Good on you mate! I am rather surprised that you started on such a high note!
Thank you for this thread. I am so glad that I gave in to my friend’s pushes and opened a forex trading account. It has been precisely 5 months of trading in total for me, including 20 days of demo, and I have made more money than I did in a year of doing stupid jobs. I was spending more to keep myself entertained earlier than I was saving. And now all the money I earn while trading currencies on Fxview just go into savings. I know about the risks involved but if you are careful with your trades and have a well defined plan, there's only going to be gain.
Mitglied seit Jun 29, 2020
28 Posts
Dec 07, 2020 at 13:13
Wait for some more time and you’ll hear a different side of the story!
Mitglied seit Jul 03, 2020
37 Posts
Dec 08, 2020 at 10:18
@Bladiminmunro @Scarymaniak I am not saying that I have only been profiting. There have been losses also but overall there is a gain. And I am comparing this to the measly wage I was drawing with my job is all folks. Take a break!
