Broker and regulations

notoriousfox1 posted:
There are also different leverage options depending on what country you are in. Most only offer 1:30 now. Used to be able to get 1:1000

still getting 1;500 is easy, adjustable

croisssan posted:
It is important that everything is regulated and without interference. In this case, you can still work.

Yes. You are right.

Brokers are the medium by which we can trade Forex online. But for trading we need a good regulated broker.

I use regulated broker, the company has regulated by ASIC, FCA, and Cysec, I think the regulated broker is important to pay attention to, although not all regulated broker is good, besides regulation, also review among trader, broker that has reliable and trusted, they will get positive review among trader,

For higher leverage it's worth checking out some off shore brokers. A lot of people always recommend a regulated broker & I understand their thinking but they are also very restrictive. I have used unregulated brokers with no issue. You just need to do your research.

I don't think it is as important as it used to be personally, particularly to those in the US who are hamstrung by regulations that actually offer little in the way of fund protection, all the while limiting their trading conditions. That's not to say all unregulated brokers are good. Just that they shouldn't be dismissed out of hand.

I’m from the US as well and wound up going with an offshore broker because options were limited and I was able to trade with higher leverage. In this case, I’d also recommend CedarFX to you because they seem to fit the criteria you’re looking for as far as low costs and high leverage. You can open a 0 commission account there with decent spreads, no extra fees, and leverage up to 1:500. Hope this helps!

Pezza posted:
For higher leverage it's worth checking out some off shore brokers. A lot of people always recommend a regulated broker & I understand their thinking but they are also very restrictive. I have used unregulated brokers with no issue. You just need to do your research.

I use them too. I have found them solid and lots more options to trade and some have same day withdrawals now too

For me there are far more important factors to consider then selecting a broker. Whether or not they are regulated is way down my list in selection criteria. Here in Australia, they limited our leverage earlier in the year. If I want to choose a regulated option here, my only option is accepting a maximum of 1:30 leverage.... Having traded with 1:500 leverage for 4 years before hand, there is no way my strategy would be worth my time with so little leverage. For me, trading conditions, reviews, customer service and the test of time is far more important.

I prefer to use Offshore brokers. I find that they tend to offer better trading conditions such as a higher leverage and lower commission. I like to trade crypto 24/7, which most onshore brokers don't seem to offer.

DYOR is important before choosing a broker, I compared and shortlisted several brokers before finally signing up with turnkeyforex for 2 prime reasons:
Leverage
Low trading cost

No matter what, regulations are very essential when it comes to choosing the forex broker. It is a good suggestion to do your own research while picking the right forex broker.

generally we the traders keep a great believe to trade in a regulated broker always safe but practically the real situation is totally different.

Cizel89 posted:
No matter what, regulations are very essential when it comes to choosing the forex broker. It is a good suggestion to do your own research while picking the right forex broker.

Do you apply the same theory with cryptocurrency?

If a crypto is regulated or 'centralized' people will tell you to avoid it.

It's not only the wrong broker that is the cause of problems. A bad broker is clearly an issue for trading. Alongside a reliable broker, traders have to be skilled.

A decent broker + good trading skills = great trading journey.

Akasuki posted:
It's not only the wrong broker that is the cause of problems. A bad broker is clearly an issue for trading. Alongside a reliable broker, traders have to be skilled.

Stel386 posted:
A decent broker + good trading skills = great trading journey.

Couldn't agree more about these.