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What broker regulation do you prefer

Discussion in 'Forex Discussions' started by somefxtrader, Nov 13, 2014.

  1. somefxtrader

    somefxtrader New Member

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    It is common knowledge that broker regulation is very important matter, particularly its location. My broker MercerFx regulated in New-Zealand, far away from Islands regulated scammy brokers, what about yours?
     
  2. jologs

    jologs New Member

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    the regulation is good as long as its regulated, i trade with hotforex regulated by both the CySec and FSC which is good and they have been around since 2010 and are doing a really good job maintaining the level of improvement, new brokers usually have something to prove!
     
  3. vic84

    vic84 New Member

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    Regulations depends from country to country, some countries do have regulations but they are weak and can be manipulated easily, so its better to see what type of regulation your country impose.
     
  4. platinumtraderfx

    platinumtraderfx New Member

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    Of course I prefer FSC regulation but without tight policies like has US NFA ( I am talking about their strict monitoring of capital flow) which also adds extra costs to broker services. That's why I opted for Hotforex broker who has regulation of Mauritius FSC and offer quite good platform and low-cost trading opportunities..
     
  5. orni308

    orni308 New Member

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    Regulations are very important factor on the basis of which we select our broker, in many countries the regulations are very lenient but still you should choose a regulated broker.
     
  6. tianxiabachang

    tianxiabachang New Member

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    Reliable broker should under regulation, such as FCA, NFA, FSC etc. Before select broker, you should make market research about regulation authority. some brokers have more than one regulations like hotforex, regulated by both the FCS and the CySec, although regulations do not guarantee but its better than unregulated brokers
     
  7. platinumtraderfx

    platinumtraderfx New Member

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    I prefer good old CySec my broker Hotforex is regulated by them. They provide compensation fund as other "more reputable" regulators, up to 20 K EUR, so I guess nothing to worry about.
     
  8. jologs

    jologs New Member

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    FCS FCA CYSEC and what not, there are tons of regulatory body, but in my humble opinion im not so sure if the regulatory actually decides how good a broker is, but i guess as long as they are regulated with an acceptable regulatory body then they are good well they still have to prove their worth. any broker has too.
     
  9. sininfinity

    sininfinity Active Member

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    In the end what matters is broker's honesty. If a broker is honest with it's traders and does not create problem in trading and pays on time then it's what matters. Like fxoptimax.
     
  10. jologs

    jologs New Member

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    in my opinion even though the broker is honest, its still should be backed up by some sort of standard, I wont settle for a word of mouth with out some sort of a document to back it up. a regulated broker always has the upper hand.
     
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