Can I trust an offshore broker?

Discussion in 'Forex Brokers' started by Lukas Schmidt, Jan 26, 2017.

  1. Enivid

    Enivid Administrator Staff Member

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    I would be careful with that broker. They claim to be based in the UK, but they are not regulated by FCA. This should raise a red flag for traders.
     
  2. darren greg

    darren greg Trader

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    I traded with oanda for a few months. They were good initially. Execution was good .spreads were reasonable. But then weird things started to happen. Their spreads became widened abnormally sometimes even during the regular hours, No news-break! No event! Also they created a lot of problems with my withdrawal. Whenever I asked about my withdrawal their client support failed to provide me a valid explanation. I got sick and tired of their tantrums so I closed my account there. The one I am currently trading with has a good withdrawal policy. At least I did not face any problems with them so far.
     
  3. ashouq

    ashouq Active Trader

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    Not sure if it fits in here but i replied because i find these offshore/online forex trading opportunities still allows many to make a good living out of it.
     
  4. Alexfx79

    Alexfx79 Active Trader

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    What a surprise. Never heard about such attitude to clients from them.
    anyway, I don't see any problem, in trying some other companies, just be careful :)
     
  5. Alexfx79

    Alexfx79 Active Trader

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    Maybe you meant that offshore firms are more liberal due to lack of strict regulations and give more opportunities? :)
    it's ok man I just wondered what you were talking about
    I agree that there are more bonuses and actions than with fca-etc....regulated ones. That's a fact
    As for other opportunities, they are all the same, excluding scams which appear on the market sometimes. Like it was said in Forrest Gump movie, s*it happens. :)
     
  6. forxprotrade

    forxprotrade Newbie

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    Hello alexfx,

    I also believe that offshore brokers are more liberal as they are not regulated and can provide you those trading conditions which are generally not provided by the regulated ones like higher leverage, no restrictions on hedging or scalping etc. it’s just you need to be very careful when choosing the right one for you. You can read their reviews on different forums and test their live accounts with small deposits as well.
     
  7. Alexfx79

    Alexfx79 Active Trader

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    I was not talking about regulated or unregulated brokers, as I wrote about only regulated ones.
    The difference between them is only in regulatory authorities that can be onshore and offshore
     
  8. Winjak

    Winjak Active Trader

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    Offshore doesn't mean unregulated, so yes, why not
     
  9. fuelaranfast

    fuelaranfast Newbie

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    I do not believe in offshore brokers, as a rule they all scam.
    Since there are many brokers in the world, then in discarding all offshore companies, you will have a choice.
     
  10. JohnyIve

    JohnyIve Trader

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    I know that Amarkets with offshore registration and he provides really profitable conditions for trading and also FinaCom regulated. I guess a lot of brokers have offshore registration and this is not an indication that this broker is a liar.
     
  11. emilio81

    emilio81 Trader

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    I not trust offshore brokers, later with big profit is big problem:/
     

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