Was it your broker, or were your trades losing money?
how could you say that it was about the broker?
It was both of them, I didn’t exactly blame it on my broker, just said I had a bad experience and I’d rather not roll the dice with them again. Lesson learned.
There are lots of risk associated with trading with unregulated broker. Platform manipulation, risk of blocking profits, unfair market-making (trading against you) etc. Regulated brokers usually don’t possess these drawbacks
There is absolutely no truth to that, regulated US forex brokers play all the games you mention and have been fined for doing so.
In the US, there have also been a number of cases of regulated brokers stealing funds from their customers
FXCM and CEO Drew Niv kicked out of US Forex market, fined $7 million for defrauding customers
In a fairly harsh and historic move, the US Commodity Futures Trading Commission (CFTC) has banned FXCM Inc (NASDAQ:FXCM) from its home US market, as well as a permanent registration ban for CEO Drew Niv (pictured above).
Gain Capital fined $700K by NFA for compliance violations
The NFA alleges that Gain Capital improperly adjusted customer accounts following a system malfunction on the Forex.com trading platform, which took place from about 2:55 pm on 31 March 2021 to about 1:00 am on 1 April 2021. During this time, customers on the platform could execute stop and limit orders in 14 currency pairs at prices, which did not correspond to the current published price.
Yeah I understand you it is hard to trust again thanks Emi for sharing that.
If a situation arises where the broker encounters issues and your funds are at risk,will it be challenging to track and legally recover your money?
I believe the same thing, and I know certain regulated brokers who steal money.
I suppose there is no sure way to trust.
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Thank YOU, and I hope you never have to deal with something like that because it’s seriously terrible.