What safety measure I need to take before choosing any forex broker?
Členom od Oct 07, 2020
29 príspevkov
Nov 05, 2020 at 12:46
Regulations, very important !
Členom od Oct 07, 2020
29 príspevkov
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.
Členom od Jul 28, 2020
1 príspevkov
Nov 06, 2020 at 14:48
A reputable country with a good regulatory body.
Členom od Oct 23, 2020
37 príspevkov
Nov 07, 2020 at 03:57
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.
Členom od Oct 23, 2020
37 príspevkov
Nov 07, 2020 at 08:21
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.
Členom od Oct 23, 2020
41 príspevkov
Nov 09, 2020 at 07:04
You need to check the licence and registration of your broker.
Členom od Oct 15, 2020
37 príspevkov
Nov 10, 2020 at 10:28
There is a limit for the protection amount.
Členom od Jun 23, 2020
34 príspevkov
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.
Členom od Jul 20, 2019
372 príspevkov
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
Členom od Aug 17, 2020
123 príspevkov
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.
Členom od Oct 07, 2020
29 príspevkov
Nov 21, 2020 at 09:30
(upravené 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.
Členom od Oct 19, 2020
28 príspevkov
Nov 21, 2020 at 12:59
Garrywilson posted:
There is a limit for the protection amount.
Besides regulations look into their order history and company profile.
Členom od Oct 07, 2020
29 príspevkov
Dec 01, 2020 at 12:41
People still fall for such stuff I’m shocked!!!
Členom od Oct 23, 2020
41 príspevkov
Dec 01, 2020 at 13:43
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
Členom od Oct 07, 2020
29 príspevkov
Dec 02, 2020 at 08:12
if i was you i would choose the oldest here: icm
Bennie Riley (bennieriley)
Členom od Jun 09, 2020
36 príspevkov
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.
Členom od Sep 30, 2020
28 príspevkov
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.
Členom od Oct 07, 2020
29 príspevkov
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
Členom od Oct 01, 2020
37 príspevkov
Dec 09, 2020 at 10:40
Attaboy! Gosh you must be ultra new to trading to not be aware of this
Členom od Oct 05, 2020
65 príspevkov
Dec 09, 2020 at 13:18
It’s alright, we all were once new to this
