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

Regulations, very important !

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.

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.

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 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'.

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.

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.

People still fall for such stuff I’m shocked!!!

if i was you i would choose the oldest here: icm

Marshalsam877 posted:
Easy deposits and withdrawals are an important part of my trading. I feel so restless when I can withdraw my money quickly.

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.

Different funding and withdrawal methods should also be taken into consideration. For instance not all brokers accept crypto, or credit cards.

I do tend to put my withdrawal request on Fridays. Will do it on Monday next time and see. Thanks

Attaboy! Gosh you must be ultra new to trading to not be aware of this

First, learn to trader

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.

Now which one did you have an issue with and what. Sharing names always helps others.

Try using regulated brokers that are good with their services. Make sure you make all the inquiries and see if the trading conditions are upto the mark. Don’t settle for less than what you need as a trader.