Its easy for people to say what makes a good brokerage firm. I personally work with two different brokerage firms one is registered and one is not. I don't feel any more comfortable with the one that is registered due to the fact that to me with the NFA not being consistent with their rulings causes me to not put much stock in the whole process.
Even the OP has shown how they change multiple times on their regulations and what they are requiring. I have seen IB's get audited from them and have things they needed change from one day to another.
I place my money after doing my own due diligence and not by what other traders have to say. We tend to believe the bad before we will believe the good in what we read! If you have something bad to say I have no idea what the other side to the story is and what is really the truth. I see people every day get mad at others and put the blame on others when its their own lack of knowledge and experience in this market that has really burned them not the brokerage firm. This is just my opinion and I encourage others to check on your own before you make a decision.
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Originally Posted by maxiFX
That's nice that you have heard why they are not regulated and that it is an alleged legitimate reason but as far as I and everyone else is concerned that's hearsay. Sure it costs time and money to become regulated but that's the point. Brokers who have chosen to go through the process think it is worth investing money into their regulation. Why? Because it gives their clients transparency and a forum to voice their complaints to a regulatory body. Does this protect a firm from going under? No but it sure is a step in the right direction. A step FXDD has not yet made which is why I wouldn't trade with them. So what if their parent company is regulated? That's not good enough for me. I want to know their net excess capital and to make sure that they can maintain a certain standard. If you feel comfortable keeping money with a firm like that then fine but I certainly don't.
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