Forex broker regulations?

One of the most important criteria for traders when choosing a Forex Broker is the regulatory status of the broker and under which regulatory body it is governed. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients’ money.
 

davidblack

Trader
Jun 19, 2014
77
0
17
In my opinion regulation of a broker is very important because it is matter our valuable money which we are investing in forex behalf of this broker. So broker should be regular and reliable.
 

Lawrence

Active Trader
Aug 20, 2015
169
7
34
In my opinion regulation of a broker is very important because it is matter our valuable money which we are investing in forex behalf of this broker. So broker should be regular and reliable.
Yes this is true that the Forex broker we are trading with must be regulated and also we have to think about doing ECN trading only :)
 
Aug 24, 2015
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Yeah, if a broker has regulation it could be more reliable than a broker with no regulation, but in fact regulation is not a protection against scam, unfortunately, you could be scammed even by a regulated broker....
 

Sarah12

Newbie
Aug 12, 2015
29
2
2
I've already posted this in another thread and would like to add here. I don't think the reason of problems that might occur with a broker depends on it regulated or not regulated basis. For example Cysec, one the most popular nd well-known FX regulator. I don't feel like i'm blacken it, but still have info that it's not that hard to buy their license. So what i'm trying to say is that we can't think that regulated broker is a good one and unregulated one - a bad. Moreover once I've made a research that some well-known brokers have information about their licenses, not having a links to see a license itself. So I just choose my Broker, it's new one, and even it's only in process of obtaining license - I've already earned with it, I trust it and my advice is choose the Broker that brings you profit, that is the only thing that matters on the FX market. Recently, I began to see more and more well-known names of regulated brokers in the discussions about the fraud and so on. As it turned out, these brokers do not withdraw money to its customers. Moreover (I will not write the name of the broker, since I have nothing to do with it), but the broker who has most in the world numbers of licenses and who is one of the three world's leading brokers, does not withdraw money as well.
Most definitely,the truth is one must look beyond regulation to judge a broker,The mere fact that a broker is not regulated doesnt mean the broker is a scam or bad,In fact some regulated brokers are wolves under sheep clothings, Personally I choose my broker based on a test,test the broker of your choice before committing,A honest broker is priceless and would earn my trust not saying regulated brokers are bad,no they are good but don't blacken the names of all unregulated brokers.
 

Enivid

Administrator
Staff member
Nov 30, 2008
11,965
454
114
Odessa
www.earnforex.com
Yes, CySEC looks to be doing its best recently to ensure normal functioning of the industry. Of course, it cannot be compared to the oversight provided by NFA/CFTC or FCA, but it is still a lot better than no regulation at all.
 

davidblack

Trader
Jun 19, 2014
77
0
17
Regulation of a broker is very important aspect of Forex trading. If you will choose a regulated broker then there are less chances of scam and your money is almost safe there. I have account with [URL deleted] alpari and it is founded in 1998 and it is one of the trusted brokers in the world.
 
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Jason Watson

Trader
Nov 29, 2015
8
0
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According to my trading experience , I think , we the traders have to choose in regulated trading broker which guarantee their clients funds. Actually, real regulated trading broker always make sure security of funds, low transaction cost , easy withdrawal system without long time process, free demo trading , active customer services and much more trading facilities that are very supportive to lead a flexible and secure trading life.
 

myfxpt

Master Trader
Nov 13, 2012
395
50
74
58
Melbourne, Australia
gazfxsite.wixsite.com
In my opinion regulation is important because something is better than nothing. But i think what is more important than regulation is that your broker's reputation. Please make a review of your broker with their existing clients before you decide to make a deposit with them. There are many brokers in this industry like Exness, Hotforex who dont only have the regulations but also have earned the reputation in the market by consistent good work and great customer service.
I must agree with this. The reputation a broker has built with its clientele is of equal, perhaps even greater importance than regulation. This is ALWAYS one of my highest priorities in selecting a broker. An equal priority is client funds segregation held on trust with a credible, locally based, financial organisation. I want to be sure that my funds are safe.

Maybe what we really need is an international unified code of practice that brokers can voluntarily subscribe to, which guarantees protection of client funds (perhaps insured) and that a minimum set of standards are adhered to. At present we have what seems to be a scattered array of regulators, some more robust and reliable than others, and much uncertainty for the client. For example, I know my rights in Australia when trading with a local broker, and I know how to seek a remedy if something goes wrong. But what if my broker is located in the UK, Germany, UAE, Russia, Japan, or Panama? Where do I stand, and how do I gain access to legal remedies? Just a thought!
 

Francmorio

Trader
Nov 23, 2015
306
0
6
26
I used to trade with Hotforex but I had to call it quits when I realized that during news events there were massive slippages. Although this is not a broker problem, I do believe that some brokers may induce slippage for their own benefits
 

inggo

Master Trader
Jan 13, 2012
474
11
59
Philippinese
I used to trade with Hotforex but I had to call it quits when I realized that during news events there were massive slippages. Although this is not a broker problem, I do believe that some brokers may induce slippage for their own benefits
so what broker do you trade now? and how is the reviews doing? as long as you are earning then its good, do let us know so we can check them out at forexpeacearmy as well. happy trading.
 
Jan 28, 2015
25
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Russia
My experience with CMTrading was to my full satisfaction. Like other market makers the execution could be faster, but for learning forex I find the service with a $250 excellent. Plus as many here say, they are fully regulated as they are based in Europe. This creates a true feeling of security. There is also no problem withdrawing money from them using my Neteller account.
 

Mark Fahad

Trader
Sep 26, 2016
33
2
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Now I am comfortable with MXTrade which is regulated and always ensures security of funds at any deposits with a wide range of t6rading technologies. Actually, according to my trading experience, I think only regulated trading brokers in this market place guarantee their clients funds.
 

jellyeb

Active Trader
Jun 10, 2015
248
11
29
Now I am comfortable with MXTrade which is regulated and always ensures security of funds at any deposits with a wide range of t6rading technologies. Actually, according to my trading experience, I think only regulated trading brokers in this market place guarantee their clients funds.
Too many mentions of this broker from your side I hope you are not one of their reps telling sweet stories about how you are making cash with hands down.
Regarding regulation make sure it is at least CySec or FCA (when you open account check that). If you are seeing some offshore unknown regulator then avoid trading with this broker and search for another one.
 

penncepmughta

Newbie
Mar 31, 2017
7
0
2
29
Yes, CySEC looks to be doing its best recently to ensure normal functioning of the industry. Of course, it cannot be compared to the oversight provided by NFA/CFTC or FCA, but it is still a lot better than no regulation at all.
I do not believe in "CySEC". They are very weak as a regulator. There are scam brokers who hide behind their licenses, and at the same time calmly deceive people.
This regulator is missing very many factors.
As an example of "NordFX". They have a two-faced company. Web site http://www.nordfx.com.cy "(the version of the site in the Cypriot language) belongs to one company that is regulated by CySEC, and other versions of the website belong to another company that deceives customers and does not withdraw money to customers who have It's profit in the auction.
Ofc, that the regulated company is only a mask, and all actions are conducted by the second company.
And the company itself is in Russia, and all activity is carried out from there, it shows the research of real "IP" of their letters from correspondence with customers.
What does not match the addresses from their contacts in the documents and on the website.
 

myfxpt

Master Trader
Nov 13, 2012
395
50
74
58
Melbourne, Australia
gazfxsite.wixsite.com
Too many mentions of this broker from your side I hope you are not one of their reps telling sweet stories about how you are making cash with hands down.
Regarding regulation make sure it is at least CySec or FCA (when you open account check that). If you are seeing some offshore unknown regulator then avoid trading with this broker and search for another one.