Rosstaylorr posted: 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.
withdrawals are a bliss with fxview. Mine took just one day!
do traders have much reasons to trust it, given it is unseen by a majority of pro traders?
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.
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'.
now that's something no one pays attention to. Thanks for sharing this knowledge, much appreciated
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.
DoraWalletInvest posted: 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.
I bet almost every trader has concerns with the executions.
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.
There’s nothing shocking here, if people knowingly gamble and lose money in casinos despite knowing that they’ll never recover their money, then why wouldn’t a beginner fall for some strategies portrayed as winning ideas
I know I was a complete noob, still am, have learnt it the hard way to not trust just anyone. Trading is no get rich quick scheme. I will be mindful of using regulated brokers, have been participating in discussions to learn more on reliable sources: going to get opinions from experienced traders here and then only proceed. Confused between fxview, aafx and icm.
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.
Nah! Haven’t used them yet! I am still struggling to be able to withdraw my money from the broker. And customer service is not responding. Will transfer funds at the first possibility to a different broker.