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How to choose a broker safely

  • #41
  • Feb 6, 2014 1:17pm Feb 6, 2014 1:17pm
Quoting Alpari UK
{quote} Hi johnpratt261, Welcome to the forum! Alpari UK uses a floating leverage system on MetaTrader 4 Micro, Classic and Pro accounts. This system automatically applies higher leverage on a trade by trade basis depending on your trade volume. When you’re trading forex, an open position of less than USD3 million nominal value carries a maximum leverage of 1:500. An open position of USD3 million to USD5 million carries a leverage of 1:500 for the first USD3 million and a leverage of 1:200 for the remaining USD2 million. An open position of USD5...
Yea right! also be expecting 1700pips spikes liquidity problems
  • #42
  • Feb 6, 2014 1:22pm Feb 6, 2014 1:22pm
Quoting johnpratt261
I'm newbie sorry for my english . My capital grow up every day , too much Regulator . (~2 year profit) FSC http://fscl.org.nz/ Hotforex FCA http://www.fscmauritius.org/ Roboforex http://www.bvifsc.vg/ Forex4you Cysec http://www.cysec.gov.cy/default_en.aspx Exness I fear someday lose all my money . I need a best Regulator when broker scams, I can get a refund from the Regulator (not profit just my capital) . I seem domain have ".gov" better than other. Can you help me ?
No broker is too big to fail! whichever broker you are using, withdraw all your profit at the end of every month. thats what ive been doing and Ive so far withdrawn over 300% of my opening balance.
  • #43
  • Edited 3:20pm Feb 6, 2014 2:22pm | Edited 3:20pm
Quoting tradethefx
{quote} You will be suprised but the laws for a bank oriented broker do not restrict the bank/broker to keep a segregation of funds
Even if they are not required to do so, you will find that the majority of broker/banks do offer segregated accounts as they are a popular requirement from traders these days, who are a lot more conscious of the security of their funds. Besides this, many regulatory bodies require clients funds to be segregated from the company's operating profits, the FCA (UK) and ASIC (Australia) I know do require this.



Quoting come alive
{quote} You couldn't be more right, regulation doesn't guarantee safe trading anymore, all we need now is a reliable broker that can handle our funds well. I believe we have these types out there, all we need is to patiently seek for them and if any isn't doing well for us, it would be better we quit them. I would always say that am fortunate enough to have found Profiforex, all whom I have seen trading there have given good report, and am experiencing same thing too. I trust them with my funds, as withdrawals so far have been very smooth. The point...
Nothing is guaranteed in life, but it is quite obvious that with regulatory oversight a traders funds are going to be safer than if there is no oversight at all (an unregulated broker) - it's just logical. For starters, as pointed out above, many regulatory bodies require Segregated accounts which is very important. Secondly, regulation often ensures that you are covered by some sort of financial compensation scheme to protect your funds in case the broker goes in to liquidation or flat out steals your funds. The FCA (UK) established the Financial Services Compensation Scheme, which all regulated companies need to belong to and which covers traders deposits up to 50,000 GBP per person. This certainly would make me sleep better at night !
Regarding ProfiForex, I don't want to bad mouth them however they are unregulated and located in the Seychelles and I have read a fair bit of negative comments about them on different forums, particularly on ForexPeaceArmy, so personally I would never consider them for a broker.
  • #44
  • Last Post: Feb 6, 2014 7:56pm Feb 6, 2014 7:56pm
I trade with a few brokers, Global Prime is the best for execution and apparently support but I dont use them for that much. they are regulated by ASIC look up them on forexpeace army the reviews are very positive
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