It would be great if we get a wide range of trading facilities from our brokers as like superior execution for trading , security of funds at any kinds of deposits , lowest trading spreads for using any kinds of trading techniques , high leverage , minimum margin requirements, low transaction cost , easy withdrawal system and much more that are very supportive to lead a comfortable trading life with certainly.
CleanTrader posted: Sounds like a wonderful dream. Some brokers offer a lot of what you want but there are a lot of bad ones
Yes, they are mixed! I think, it’s not easy job for the new traders to select a right broker; since market maker brokers are very sticky. But, in this case popular Forex forum & review sites can be helpful.
In Fx trading we the traders who are particularly beginners have to choose our brokers in cool mind , please don’t choose a broker in an emotional state , because the broker can affects the result of our trading with certainly .
Personally I don’t trust any broker, because when I was a novice trader then I tried with multiple trading robots with high cost! But the results were horrible! I lost my trading capital for 3 times in a row! This is way, now I trade manually based on current fundamental data!
UK’s Financial Conduct Authority (FCA) is looking into forcing the straight-through processing (STP) forex brokers to upgrade their licenses to those for full market makers.( https://www.forexbrokerz.com/news/FCA-to-change-license-requirements-for-STP-forex-brokers%E2%80%93media) FCA has apparently sent a letter to a number of its charges to inform them of prospective changes to the regulatory environment. According to the document, the watchdog is planning to force the STP brokers to upgrade their licenses in order to ensure better negative balance protection from losses of their clients in case of extreme market volatility. The main changes would be in regard to the capital requirements for the brokers and they would most likely be raised in order to be able to cover a large negative balance.
UK’s Financial Conduct Authority (FCA) has issued a warning that the forex broker SolidCFD, which is not licensed to offer its services in the country, but has been targeting local investors.(https://www.forexbrokerz.com/news/UK%E2%80%99s-FCA-warns-against-forex-broker-SolidCFD) The company provides an address in the UK, but the company is actually registered offshore, in Vanuatu. Apparently there have been numerous complaints against them for scams.