Nov 05 2020 at 11:59
A starter just about to test the waters of forex trading. Having a broker might ease a couple of things for me but I am concerned about the safety. What I need to check before picking anyone?
Nov 05 2020 at 12:46
Regulations, very important !
Nov 05 2020 at 13:09
Looking for a broker in Europe! What regulations should one check in a european broker, there seems to be too many.
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 06 2020 at 06:07
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.
Nov 06 2020 at 09:13
How would it help?
Nov 06 2020 at 11:07
I believe, the more you engage on the platform of the broker the more you understand them. Generally their interface and the customer support services tell you a lot about the brokers.
A reputable country with a good regulatory body.
You need to make sure your money transaction is safe with the broker. Your broker should have detailed information about the security parameters they follow. You should check online at their site before investing your money.
For me it is the withdrawal process, generally it is quite an underrated factor and overlooked by new traders. Seasoned traders will know how some brokers take quite long to process withdrawal and resort to unfair trade practices.
Nov 09 2020 at 07:04
You need to check the licence and registration of your broker.
Nov 09 2020 at 09:21
Forex broker license in Europe is unique in relation to other global countries. I say this because the broker with the license can serve any member country. CySec, the regulatory body of Cyprus, is one of the most recognized regulators in Europe.
For a client the security of money deposited is the utmost important thing. Many brokers have a separate account for the client’s deposit money. Do carefully read about your broker before opting them. In this case even if the broker goes broke your money is safely deposited in a different account.
Nov 10 2020 at 10:28
There is a limit for the protection amount.
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.
Nov 11 2020 at 06:52
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.
Nov 17 2020 at 04:35
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?
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
Nov 19 2020 at 05:57
marco_mmbiz posted:now that's something no one pays attention to. Thanks for sharing this knowledge, much appreciatedmarnuslabushane 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'.
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.
