DislikedWell I trade with accentforex and rather satisfied with this fact. Their conditions are seems to me convenient and trading is honest.Ignored
Why your broker is your friend and your enemy 4 replies
Anyone like Citi as a broker? I'm looking for a safe broker 18 replies
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A Swiss broker - Your money can be safe. 22 replies
DislikedWell I trade with accentforex and rather satisfied with this fact. Their conditions are seems to me convenient and trading is honest.Ignored
DislikedThat is usually not the problem, because you always have the last variant for conflicts - the court. But if office of the company is hard to be found, that's strange.Ignored
DislikedNot when your client agreement and T&Cs allows them to be shifty and get away from it. A court can't help you when you there.Ignored
DislikedI'm wondering how many people have larger accounts w/fx brokers and
feel comfortable with that. 10k, 50k, 100k?
are these accounts safe or insured against fraudulent withdrawals or the broker just taking it?
Thanks.Ignored
DislikedBut the one thing that I considered before I started with my current broker is their trust account in which my fund is totally off their balance sheet. You can check out whether your broker offer trust account (that means your fund are 100% safe inside your trust even if they go bankrupt or close down). You need to pay a min setup fee of $50 though.Ignored
DislikedFXPrimus are in an lightly regulated jurisdiction (Mauritius) but their third party custodian option looks very interesting:
https://www.fxprimus.com/new-forex-t...ed-fund-safety
Does anyone have any experience?Ignored
DislikedI really don't trust any of them, enough have gone down in recent times. It is a huge problem moving forward if contemplating a big account size. I would be more happy if a bank was a broker like Citibank, though they don't offer to Australians. If your account earned interest like a regular bank account and then you trade if you want. Our banks offer these services for equity share trading and some brokers like Macquarie bank for futures but not for FX.
That in itself probably suggests FX OTC is possibly more for learning the craft of trading...Ignored
Dislikedaccentforex are unregulated. I can't even find the name of their company or where their head office is from their site.Ignored
DislikedIt's not just your brokers you need to worry about. You need to find out which bank they have the funds parked in too!
So all in all, nowhere is 100% safe/perfect, so plan accordingly. In other words, take 50% of your profits out, maybe after each completed trade, maybe after a week, but not much longer than that...Ignored