Is there such a thing as an honest broker

I would say - a bit tricky question :)
If someone thinks that broker 'XYZ' is honest, fair - he will state and like the broker. Other, may had bad experience with the same broker due to delay of withdrawal, or big slippage in particular trade and etc., then he will think in opposite.
Then the true is somehow on the middle :)

mlfrx posted:

Megabot posted:
Pepperstone is in my opinion an honest broker

Good evening! you are still working with Pepperstone? Had no problems with the withdrawal of profits?

Not a single issue

BaldoN posted:
I would say - a bit tricky question :)
If someone thinks that broker 'XYZ' is honest, fair - he will state and like the broker. Other, may had bad experience with the same broker due to delay of withdrawal, or big slippage in particular trade and etc., then he will think in opposite.
Then the true is somehow on the middle :)

Well then you check FPA to see reviews of more users.

I don’t think there will be an honest broker ever. You can’t tell your customers/clients everything. This is an unwritten law in every business. Even if you read a lot of reviews – you never know if they are not fake or maybe someone is hiring people to promote their services

I agree with you! To give a definition to the trajectory of a broker should be done deep research. Not only comments but ratings, forums, news, blogs. Everything should be evaluated and weighed.
Full honesty does not exist when we are talking about money matters.

Of course, today with so many complaints that are on the internet to the forex brokers surely many are afraid to deposit in any of them and they are right in part, the truth is that it is difficult to find really honest brokers. Some, even if they are not fraud, are irresponsible. With this we do not intend to discourage the investor so that he does not invest in any of them but rather motivate so that he is careful when selecting the broker where he deposited his money.

proyecto posted:
Of course, today with so many complaints that are on the internet to the forex brokers surely many are afraid to deposit in any of them and they are right in part, the truth is that it is difficult to find really honest brokers. Some, even if they are not fraud, are irresponsible. With this we do not intend to discourage the investor so that he does not invest in any of them but rather motivate so that he is careful when selecting the broker where he deposited his money.

I think the main point is that you can not fall into the trap of 'blaming the other' when there is no honest broker.

mlfrx posted:
Full honesty does not exist when we are talking about money matters.

This is the quote of the day!! Really … Like 101% true

Of course! But, unfortunately it’s true market maker Forex brokers are available here and there, they are very active on marketing policy! So, retail traders start their trading journey with a market maker Forex broker most of the time! Regulation is one of the most important parameter here, regulated Forex brokers are honest, so invest your money after confirming the status of your broker regulation!

Obviously, all of Forex brokers are not market maker, if you want to protect your trading capital from any unfortunate result then always stay with regulated Forex broker! For the reason that, only regulated type Forex brokers are able to ensure high security on traders trading capital and profit! Besides, mostly non regulated Forex brokers are scammers, so be careful on them!

There are honest brokers, though one needs to do serious research before they can be sure that the broker they’re working with is honest. When it comes to binary options brokers, however, the picture is a little different. Maybe there are some honest ones among them, but the majority seem to be shady at best, scammers at worst. Things are so bad that even the FBI issued a warning against the entire industry (https://www.forexbrokerz.com/news/FBI-Losses-from-binary-options-fraud-run-into-the-millions) and started listing the various ways in which they scam people.

Check out the brokers reviews section here on MyFxbook. You can easily see the good from the bad

Most UK regulated brokers are honest. But stay away from any binary options broker

mlawson71 posted:
There are honest brokers, though one needs to do serious research before they can be sure that the broker they’re working with is honest. When it comes to binary options brokers, however, the picture is a little different. Maybe there are some honest ones among them, but the majority seem to be shady at best, scammers at worst. Things are so bad that even the FBI issued a warning against the entire industry (https://www.forexbrokerz.com/news/FBI-Losses-from-binary-options-fraud-run-into-the-millions) and started listing the various ways in which they scam people.

Agreed with your point! It’s sad to know that because of some scammers, the whole industry’s reputation is sabotaged. However honest brokers do exist. It just that traders need to be careful while choosing a broker.

The FCA ones seem honest, at least. Unfortunately, it turns out that the CySEC brokers aren’t nearly as honest, despite CySEC’s efforts to clean up their act. According to the French ombudsman, he majority of complaints (83%) filed at the French regulator AMF were against brokers regulated by the Cyprus Securities and Exchange Commission (CySEC). (https://smnweekly.com/2017/04/26/amf-ombudsman-83-of-complaints-in-2016-were-against-cysec-regulated-forex-brokers/) I’m disappointed, to be honest. I really thought that things at CySEC were genuinely improving.

As manager of clients fund I can tell you there are big difference.
Imagine the same trade copied at the same time to different brokers.
The results do vary a lot.