How important is the legality of a broker? - page 2

gaban
1831
gaban  
kaito kid:
There are a lot of broker in whole world for Forex trading. We have to chose very carefully in which broker we should trade. There are some point to look at about broker such as spread, regulated or not,execution time etc. so i choose FBS who has that all criteria

yes, if we want to trade with comfortable then we have to choose a broker that makes us very comfortable for trading in the broker. So that we can maximize our capital well. That way we can get maximum results.

jb1981
81
jb1981  

There is a lot of misinformation about the legality of a broker. For example, a broker with ASIC can easily scam you if you are based in say, Europe or some Asian country.

Legality helps only if the broker is licensed within your jurisdiction. Therefore, if you are based in the UK, look for an FCA regulated broker and so on.

Also the regulation/legality is just one piece to the puzzle. Other factors such as choice of instruments, spreads/trading conditions, customer support and so on need to be considered as well.

naxreell
199
naxreell  
gaban:
Nowadays, a many of brokers are emerged. Even in some countries there were governing the legality of a broker. In your opinion, how important is the legality of a broker?

I think it gives you that sense of security, especially with your funds. Like You what and where to turn when things go wrong.

But I would also quickly say that regulation is not a guarantee that a forex broker will not practice shady activities.
You can read more here: How to Trade Forex: How To Choose A Reliable Forex Broker, to see how I mean.

gaban
1831
gaban  

to be successful in forex then we need to choose the right broker. one of the criteria for the right broker is to have regulation. broker who has regulation a very decent for been selected because with regulation we will be able to trade with the maximum and comfortable because it has the force of law

naxreell
199
naxreell  

You something guys..These days, regulation is not a guarantee that a forex broker will not practice shady activities. So if a broker claims to be regulated, it is paramount you take the pain to contact that agency to verify their credibility.

You can read more here: How to Trade Forex: How To Choose A Reliable Forex Broker on Brokers regulation.

gaban
1831
gaban  

the legality of the broker is very important because doing so will allow us to trade with leverage, brokers who have a legal will allow us to trade with the maximum. the legality of the security of our funds will be guaranteed

marcels
26
marcels  

The legality of a broker is very important to traders. When a broker is legal it give the trader total sense of security to be able to invest money in forex trading and also reliability.

naxreell
199
naxreell  
James12:
Everything and I can say it again that problem been legitimate is just about everything, it really helps me trade better knowing that my investment is in safe hands, but if I don’t have idea about company’s reliability then I will never be finding it any easier. In present situation I am pretty please with my broker OctaFX, it’s a role model for new brokers since the kind of advantage they provide is simply unreal and pretty much unmatchable to anythi

You know something. what you have said here is about everything we get from regulated brokers, that sense of security, in my opinion of course.These days, regulation is not a guarantee that a forex broker will not practice shady activities.

Read more here: How to Trade Forex: How To Choose A Reliable Forex Broker for other factors to consider

Felipe
8
Felipe  

Reliable broker should have some reputation and feedback. But please don't just base your choice solely on regulated brokers, there are other factors to consider. Execution, withdrawal, spreads, high leverage are also very important...Proof regulation is not a decisive factor, regulation does not protect you against scam.

ushu
32
ushu  
marcels:
The legality of a broker is very important to traders. When a broker is legal it give the trader total sense of security to be able to invest money in forex trading and also reliability.

I better suggest that money in any online business is not safe as it is always associated with certain risks so i guess that we should consider the risks while putting our investments with any broker, i think it would be good idea to start with reputed broker and keep withdrawing the profits from them by leaving the only necessary capital with them.