Regulated Brokers are no longer better than unregulated brokers

Discussion in 'Forex Brokers' started by Emibluz, Oct 8, 2013.

  1. Kate

    Kate Trader

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    When I traded with unregulated broker if there were some delays in withdrawals I was afraid that I will not get my money. It was to often, so I changed the broker to regulated one and now I have no problems with withdrawal. Only if I lose my depo)))
     
  2. Aby123

    Aby123 Active Trader

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    Delays of withdrawals is almost usual to every broker regulated and not. But as long as everytime you inquire or subject your issues to the client's support and immediate action is given then I think we need not to worry..
     
  3. kaito kid

    kaito kid Banned

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    I think so, if we have problems in terms of withdrawal. we can try to confirm this problem to customer support. regulated broker will put the customer support can provide a solution for traders.
     
  4. inggo

    inggo Master Trader

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    as long as a broker is regulated then its to the advantage of the trader, there is always an effect on broker by regulatories, I mean broker are pressured to keep up with a regulators standards, meaning if they fail to comply they usually lose their license which will serve as a warning for traders, unregulated brokers are like criminals in a town with no sheriff. haha there is nothing stopping them from doing wrong :D
     
  5. Aby123

    Aby123 Active Trader

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    I don't think so haha the complain level from the offshore brokers is the same as the complain on the regulated ones.
     
  6. kaito kid

    kaito kid Banned

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    I think brokers have regulations that must always be audited by regulators. we can check the existence of the broker in the official website of the regulator
     
  7. Exness Support

    Exness Support Active Trader

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    I think most important aspect is now a days is market reviews and past performance of a broker. If one broker has 10 regulation but their platform and customer service is not working fine then its of no use. So you need to try for yourself before you invest.
     
  8. inggo

    inggo Master Trader

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    usually what i advice is starting small, take a 100 dollars (extra money) join the broker playy with live for a week or so try the platform, different trading styles (not for profit) then withdraw what is left, that way you get to test the broker first hand with minimum loses!
     
  9. Emibluz

    Emibluz Banned

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    Do not forget that these regulatory bodies are private. Also do not forget that most brokers voluntarily decided to be get a license from these private bodies. So, do you think they will feel obliged to pay millions or thousands of dollars when they can work away. I am sure the regulatory bodies just post the fines online for all to see, but we do not see what goes on inside. This is a win win situation. A private body with a good reputation tells a broker "Hey lets boost your reputation by making people believe you are regulated and then pay us something in return" .. Lol.. Unless a broker is regulated by a government body, I will consider its regulation a joke.
     
  10. toretton

    toretton Trader

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    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. Good luck
     
  11. globalfx

    globalfx Trader

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    I agree completely. What is the use of choosing a regulated broker and they do not offer very good trading condition. What is more frustrating is the fact that they restrict me from using high leverage and even hedging in the forex market. There has been more complains from regulated brokers recently. I wonder what the bodies are doing.
     
  12. LegacyFX

    LegacyFX Trader

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    Well i am not sure if a regulated broker can guarantee our profits, probably they will get fined or close down... agree, unregulated brokers are risky, but there are some good out there with much better conditions
     
  13. inggo

    inggo Master Trader

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    there is no such thing as a 100%guaranteed but i still think regulated brokers are a step better than unregulated ones, and in some cases way better, never heard of an unregulated broker being good for a span of time, usually they get regulated or just go scam.
     
  14. toretton

    toretton Trader

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    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.
     
  15. chief

    chief Confirmed Tickmill Representative

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    yeah it happen alot, and many more clients are scammed. here's latest case from a very legitimate,regulated company. have a check this sentence with google "take $19276 from my account without reason. Account disabled. "
    i dont want to put any bad name about them, let the audience have their own thought.
     
  16. InstantKarma

    InstantKarma Trader

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    In my opinion:
    Regulated Brokers are no longer better than unregulated brokers - false
    You can be scammed by regulated and unregulated brokers - true

    Regulated brokers are the biggest companies on the market with many clients, so information about bad practices of such brokers will be remembered more likely than information that some another unknown company cheated their clients.
     
  17. tomas.v

    tomas.v Trader

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    Regulated brokers are better because you can make an official compliant to adequate regulator and you can be sure that even biggest companies don't want to have bad relations with these institutions.
     
  18. inggo

    inggo Master Trader

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    yeah its a plus. being regulated is always a plus. compare your choices between a regulated and unregulated we always go for a regulated broker.
     
  19. ahsan1

    ahsan1 Newbie

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    In my opinion, in today's market there is not much difference between regulated broker and unregulated broker because in recent times we have seen some regulated brokers by authorities like FCA were involved in Scams.
     
  20. chief

    chief Confirmed Tickmill Representative

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    traders nowadays are much smarter, well actually we do had manya major issue with big brokerage company, sue by it client, fined by FCA for viaolitation trading terms. so we do have two type scam brokers, unregulated type and the regulated type, it's a white and grey area. As far as I am not much concerned about safety (as I already apprehended the logic work of Fx brokers) I opt for "grey" method of trading, known as retail Fx brokers. I don't pay taxes, withdraw money through "Skrills, Payoneers, etc", because it's a matter of principle. Regulation is off the map there - let it be CySEC, FCA, FSC, if they want to cheat you the'll find the way to do that legally , through inefficiencies of execution, assymetrical spreads, etc..Only time and expreince shows who hits his stride. while in Armada Markets I get 1.9$ (as my deposit there is about 10K and its their special conditions). Then what for to overpay? Trading costs is the only thing that pull the odds against us and out main goal is to reduce them, isn't it?
     

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