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What safety measure I need to take before choosing any forex broker?

marnuslabushane
Nov 05 2020 at 11:59
40 inlägg
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?
colininghrams
Nov 05 2020 at 12:46
29 inlägg
Regulations, very important !
marnuslabushane
Nov 05 2020 at 13:09
40 inlägg
Looking for a broker in Europe! What regulations should one check in a european broker, there seems to be too many.
colininghrams
Nov 06 2020 at 05:00
29 inlägg
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.
marnuslabushane
Nov 06 2020 at 06:07
40 inlägg
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.
Adamgylicrist
Nov 06 2020 at 09:13
38 inlägg
marnuslabushane
Nov 06 2020 at 11:07
40 inlägg
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.
StewGriff
Nov 06 2020 at 14:48
1 inlägg
A reputable country with a good regulatory body.
Jakemark
Nov 07 2020 at 03:57
37 inlägg
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.
Jakemark
Nov 07 2020 at 08:21
37 inlägg
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.
Davidtaylorr
Nov 09 2020 at 03:58
31 inlägg
If you are looking for a broker in Europe, I would suggest going for a broker regulated by European authorities.
Mathewshayden
Nov 09 2020 at 07:04
41 inlägg
You need to check the licence and registration of your broker.
Maxwelljoe
Nov 09 2020 at 09:21
29 inlägg
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.
Shaunmaxi
Nov 10 2020 at 07:42
28 inlägg
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.
Garrywilson
Nov 10 2020 at 10:28
37 inlägg
There is a limit for the protection amount.
davidkew
Nov 11 2020 at 04:06
34 inlägg
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!
marnuslabushane
Nov 11 2020 at 06:52
40 inlägg
davidkew posted:
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?
feelsofine
Nov 13 2020 at 12:28
60 inlägg
marnuslabushane posted:
davidkew posted:
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.
marnuslabushane
Nov 17 2020 at 04:35
40 inlägg
feelsofine posted:
marnuslabushane posted:
davidkew posted:
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?
marco_mmbiz
Nov 17 2020 at 12:55
370 inlägg
marnuslabushane posted:
feelsofine posted:
marnuslabushane posted:
davidkew posted:
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'.
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