Broker Guide

Broker Discussion Forex Brokers
1

Hey guys!

Is there anyone using GCI Financial. I have been demo trading with them, but I have recently discovered they are not regulated…

Pls help!

2

There are number of regulated forex brokers. If you are looking for regulated broker then switch to other broker like AVAFX, Oanda.

3

I always deal with Regulated broker. When the Broker is regulated then we have complete peace of mind.

Also we have nothing to worry as far as safety of the invested funds are considered.

4

since you know they are not regulated then you might as well transfer, avoid unregulated brokers as much as possible, a good thing is that you discovered it before going live :slight_smile: I almost fell for a unregulated broker (wont mention names) before joining hotforex, and everything seemed ok, but now they are gone… we arestill considered lucky :slight_smile:

5

just because they are regulated does not mean they will not close up shop and take your money.
Segregated accounts, etc can mean little at the end. Secured creditors & big scary people come first, no matter what.

Personally I would research the broker who I am dealing with. I’d stay away from tax haven countries for more then 1 reason. I would stay away from companies who’s registered addresses are po boxes,etc…(no physical address). I would even suggest walking into their office and meeting them.

Depends how much $ You are investing too. $1000 or $1,000,000, etc.

A small piece of advice… even if you are investing $100 be careful of tax havens. You do not want to get noticed/flagged by your tax dept. If you think they wont know or it does not matter, you may be kidding yourself.

Also just out of interest. Any comments on Finland?? A forex broker has not got to be regulated?

6

Visit forexpeacearmy.com, they have the best broker reviews and comparisons I have come across on the net so far. BP should also have a broker review section somewhere around here.

7

I never understood taxes really, they are a pain, though there are no regulations (as far as i know) when it comes to forex here so basically i am not being taxed for my earnings? O.o