It is true, there are regulated and known brokers that have gone bankrupt and many people have lost a lot of money. That's why it's important to informe very well, as well as withdraw your funds once you've made a benefit.Regulations are important however it is not a 100% guarantee because there were many examples in the past where even regulated brokers turned into scam. SO i only suggest that we should go with a regulated broker which have some good repute in past and once we are done with the broker, it is necessary to withdraw profits on regular basis while leaving the capital behind.
It is suppose to be the way you have said it, but does it really work like that, are their works really checked by these agencies?The Forex market is a decentralized global market and hence there is no one as such to govern the market, there is no central bank as such to govern it. However the Forex brokerage firms are regulated by governmental and independent supervisory bodies such as the National Futures Association, Financial Conduct Authority, etc, in order to ensure that the business is conducted ethically.
There are several bad examples in the past where even a good paying regulated broker turned into scam and stop paying to its traders. So better to keep the necessary capital with any broker and withdrawing profits regularly to be on the safe side.Any broker can turn bad so no you can't trust a regulated broker 100%
I totally agree here. I tend to use unregulated brokers simply because i like the higher leverage for my trading style, and tighter spreads. But i do what you do, and withdraw profits regularly as i go along, just be on the safe sideThere are several bad examples in the past where even a good paying regulated broker turned into scam and stop paying to its traders. So better to keep the necessary capital with any broker and withdrawing profits regularly to be on the safe side.
So true. I think for the client, the only issue with using an unregulated broker, is the risk of losing your pennies, thats why when i use unregulated brokers, i ensure i withdraw consistently as i go along, as to not worry about it. The thing about regulated brokers what i prefer is that they usually offer higher leverages and tighter spreads, whereas regulated ones do not.Any broker can turn bad so no you can't trust a regulated broker 100%
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