Forex Brokers - Why Countries Do You Consider Most Secure For A Broker??
I would say that the most secure brokers are from the uk and regulated by the FSA. The FSA has very strict policies compared to other regulators.
The UK needs some new financial banking regulations though...
Yes I definitely agree with that
It is true that we need a broker with good reputation and being regulated and all! And probably located in a well known place, base on this we tend to look for brokers that are regulated which is not something bad. But I feel that regulation is not a criteria for good services. Sometimes it is just a strategy used by brokers to get us to them. And even the less popular ones do more work, for instance i trade with profiforex and they may not be a house hold name you hear all the time. But they offer you a very good trading conditions, including the introduction of positions on the international exchange market, fast withdrawals and confidentiality for all transactions. This was what drew me to them.
It is true that we need a broker with good reputation and being regulated and all! And probably located in a well known place, base on this we tend to look for brokers that are regulated which is not something bad. But I feel that regulation is not a criteria for good services. Sometimes it is just a strategy used by brokers to get us to them. And even the less popular ones do more work, for instance i trade with profiforex and they may not be a house hold name you hear all the time. But they offer you a very good trading conditions, including the introduction of positions on the international exchange market, fast withdrawals and confidentiality for all transactions. This was what drew me to them.
Regulation has lost its meaning. If you visit the FSA main website, you'll find many claims of fraud against the so-called regulated brokers. When looking for a broker, your main focus should be on Transparency and Quality Service Consistency. Actually the term regulation means nothing to me. There are brokers that are doing better in the market today and they don't have this Term added to their title. Which would you prefer; A regulated broker with terrible trading condition or a normal broker with good trading condition? Choose for yourself.
Regulation has lost its meaning. If you visit the FSA main website, you'll find many claims of fraud against the so-called regulated brokers. When looking for a broker, your main focus should be on Transparency and Quality Service Consistency. Actually the term regulation means nothing to me. There are brokers that are doing better in the market today and they don't have this Term added to their title. Which would you prefer; A regulated broker with terrible trading condition or a normal broker with good trading condition? Choose for yourself.
I feel you brother! I would definitely go for the later. This has never been an issue for me using this broker.
I read on 100forexbrokers some interesting articles about FSA and in despite this makes you believe FSA is the big deal, the truth is that there are lots of brokers that are clear examples of what a scam is even though they are regulated, I'd rather check the funding methods, the reviews on forexpeacearmy or sites like that and overall if the trading conditions are not "too good to be true"
I don't really see countries as more preferential for brokers. Brokers go where they think they have more favourable trading conditions. For example, some brokers feel that the environment of onshore forex is too stringent and costly ( for example the $20m minimum capital by NFA), the tied leverages and most especially the suffocating taxes; so they chose offshore where they could still keep their competitive and transparent services; allow their clients hedge, scalp FIFO free enjoying very tight spreads etc. So it all depends on the broker.
I don't really see countries as more preferential for brokers. Brokers go where they think they have more favourable trading conditions. For example, some brokers feel that the environment of onshore forex is too stringent and costly ( for example the $20m minimum capital by NFA), the tied leverages and most especially the suffocating taxes; so they chose offshore where they could still keep their competitive and transparent services; allow their clients hedge, scalp FIFO free enjoying very tight spreads etc. So it all depends on the broker.
If I must add here, that is a valid point there. Many brokers that were accepting US clients are running offshore, robbing the US of much money. If could be generously assumed that all these brokers are scams trying to avoid the tight security onshore (which is not really there). Tell me, as a broker in a very competitive market like the forex, you get too many regulatory rules that stiffens your operations making you less attractive to clients and upon that pay huge taxes, wouldn't you consider moving offshore to get more favorable trading environment and even foreign investor bonuses? This is why offshore brokerages today are getting more attention. They are becoming more lucrative and then more trustworthy...few traders would wish for class actions there are less scams with trustworthy overseas brokers.
Hey everyone,Which countries do you consider most secure for a broker to be based in? Considering laws, security, economic situation Thanks in advance!
Yes, going by economic situations, the truth is better jurisdictions are overseas, even inviting investor tax free bonuses even tighter spreads, hedging and better leverages. Going by security, I have solid reasons to doubt true security is onshore- regulated brokers seem no longer to be making a living from commissions; concentrating more in aggregate scamming of clients: forex magnate is never idle, always chasing scam regulated brokers about. Go read forex peace army reviews, and tell me whether there is any reasonable security onshore anymore.
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Hey everyone,
Which countries do you consider most secure for a broker to be based in? Considering laws, security, economic situation
Thanks in advance!