Forex broker regulations?

[Abeer Saba]

hello Rambo35,

no regulation guarantee your money being safe with the firm if the firm went out of business only, other cases of being scammed its not the regulation job to protect your money rights its the curt job if you showed your case to them, its unfortunate but if you choose to go with a market maker broker type they will practice kind of games of taking your money in one way or another so its important to make sure the firm its true STP/ECN type .

if you have any questions i will be happy to help, Good Luck !!

 

[inggo]

thanks enivid! I needed that! much appreciated

 

[Fxpipper]

Alpari UK customers are getting compensations from the Financial Services Compensation Scheme of Great Britain. What happens when some offshore company like Trader's Way goes down?

One: On Alpari customers getting compensation, I am yet to see a dime..
Two: On unregulated brokers, the trader would have to do the research. I have been with tradersway for the better part of three and half years, to date, not an issue. And the best part, unregulated brokers often tend to the extra mile to service their clients.

Three: Regulated brokers are just that, a neat name tag. Sorry if I come off as cynical but if you take the last few regulated broker scams in the US, and the fact that these brokers got away with a slap on the wrist and a fine that would make anyone laugh..you will soon see that regulation amounts to bupkiss..

Sorry abt the late reply envid..been away

 

[Enivid]

One: On Alpari customers getting compensation, I am yet to see a dime..

Have you assigned your claim to FSCS?

Two: On unregulated brokers, the trader would have to do the research. I have been with tradersway for the better part of three and half years, to date, not an issue. And the best part, unregulated brokers often tend to the extra mile to service their clients.

That's a fallacious argument. Alpari UK customers hadn't had any issues for nearly 11 years before it went insolvent. You know, traders do not have any issues until the issue arises.

Three: Regulated brokers are just that, a neat name tag. Sorry if I come off as cynical but if you take the last few regulated broker scams in the US, and the fact that these brokers got away with a slap on the wrist and a fine that would make anyone laugh..you will soon see that regulation amounts to bupkiss..

I have just shown that it is not just a "neat name tag" by giving the example of Alpari UK whose customers get refunds. What exactly do you mean by "the last few regulated broker scams in the US"?

 

[fx4ever]

I think if u decide to invest big amount of money u must have to choose regulated broker and offering segregated account. Generally FCA,NFA ,ASIC regulated brokers are good.

 

[olivine]

There are big base of brokers in Cyprus and CySEC regulation is good for those broker and traders that are trading with a Cyprus based broker just like me trading with Mayzus.

 

[Aialocon]

not always a regulated broker is good. there are non-regulated brokers who truly are good. i was lucky to start work with Fort Financial Services, a regulated broker with good services

 

[Fxpipper]

Have you assigned your claim to FSCS?
Yes, that's a given..


That's a fallacious argument. Alpari UK customers hadn't had any issues for nearly 11 years before it went insolvent. You know, traders do not have any issues until the issue arises.
LOL, true that, and for all brokerages - no one has any issue until one chomps up on everyone's account


I have just shown that it is not just a "neat name tag" by giving the example of Alpari UK whose customers get refunds. What exactly do you mean by "the last few regulated broker scams in the US"?

I was talking about how a few regulated brokers got a slap on the wrist and it was business as usual, the perfect example would be gain capital; we know it better as forex.com and now, some of the banks which are supposed to be, well honest and beyond greed, lol as if, got caught with their hands in the wrong place and got fined massively. The point being that regulation means bupkiss..

 

[Enivid]

I was talking about how a few regulated brokers got a slap on the wrist and it was business as usual, the perfect example would be gain capital; we know it better as forex.com and now

Yes, regulated brokers get fined for misconduct, the unregulated ones do not. I am glad that we agree on this.

now, some of the banks which are supposed to be, well honest and beyond greed, lol as if, got caught with their hands in the wrong place and got fined massively.

Would you prefer for them to be unregulated and get away with it?

The point being that regulation means bupkiss..

Your own examples prove the opposite point. Regulation means at least some protection from misconduct and partial funds safety in the case of a broker going under.

 

[Fxpipper]

LOL envid..the thing is that regulation is ok but it is just about as good as say a "hail mary"..the point being that as of today, there is no agency that guarentee that the trader would get his money back in case the broker tries one over him. At most, we may get some degree of protection but even this, is not set in stone.

On a side note, just got a note from a lawyer, claiming that he can get my money back, the one that went bye bye with alpari..but how the heck did this guy get my id, details things which were supposed to be kept under wraps by alpari, I'll never know..sigh

 

[koyl]

When a broker is regulated it gives the trader some level of safety and reliable to trade with. And so it is better to trade with a regulated broker than to deal with one that is not regulated.

 

[Fxpipper]

I use both regulated and unregulated brokers, and have been doing so for the last few years and nary an issue so far - tradersway and fxcm. I did use alpari but it went belly up and you know the rest..

 

[Pushtir1]

I do not think, there is too much regulations.

 

[capitalvia01]

With technical analysis you get only advantages. However, sometimes technical analysis might fail but you would not lose much if you follow them accordingly. Most of the time they are correct and you get a good amount of profit when you get them accordingly.

 

[jellyeb]

I use both regulated and unregulated brokers, and have been doing so for the last few years and nary an issue so far - tradersway and fxcm. I did use alpari but it went belly up and you know the rest..

Where is tradersway and fxcm regulated? I use Hotforex which is CySec regulated, how trustful is that Cyprus regulator?

 

[Jason Rogers]

Where is tradersway and fxcm regulated?

Hi Jellyeb,

While I can't speak for other brokers, FXCM is [URL deleted]regulated on four continents.

 

[wisdom]

Regulators are different although these days it does means a broker can be trusted but when a broker is regulated you have a little sense of security. It should be one of the things to look out for when choosing a broker.

 

[ambitionfx]

Is Cysec sign of good brokers? I noticed many brokers are CySec regulation. Can they help we get back money if we get scam?

 

[Enivid]

Is Cysec sign of good brokers? I noticed many brokers are CySec regulation. Can they help we get back money if we get scam?

They lower the probability of a broker being scam. As for returning your money, I am not sure that CySEC has any record of dealing with that. In any case, it is a safer bet than a completely unregulated broker.

 

[prince stephens]

well, i have been doing reallyb good so far with my broker.