Quote:
Originally Posted by phil838
Incorrect, but it doesn't matter.
Legal forex brokers will always...
1. Accept deposits and withdrawals from a bank, not just paypal.
2. Post a phone number on the website.
3. Have a business model that's capable of legally generaing a profit.
4. Have price quotes on their website that are not 4 months out of date.
5. Have a functional registration page that does not generate Internal Service Errors when you sign up for an account.
6. Follow forum rules on forex sites, they will pay to advertise their services.
7. Own their own web servers, not use amazon.com as a web hosting service...
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Legal forex broker is a broker that is in compliance with laws of the country it is registered. This is the only definition which I know.
We are still beta and that explains some of the points you have mentioned (errors, hosting and so on). I am really surprised about your remark on quotes. Please, indicate which quote is 4-month old.
Our business model is viable though different from what you can see elsewhere. In particular, we are targeting small clients. Therefore, we accept only PayPal and do not provide a phone number as service costs will be too high. Instead, we have a contact form and try to answer any request.
I understand your concerns but most of your remarks are driven by your experience with other brokers. We admit that our business model is different, which does imply that it is illegal.