I wish. Now there’s a thought.
Oh alright. I see. It was you to whom he was responding i.e. you brought up FXBREW on the CFTC thread and he was replying to you. So maybe you’re right about him. If so: I apologize. I do, however, stand by everything I’ve said about regulation vs. no regulation.
So I ask you then: what are you going to do if an outfit like FXBREW (now just using them as an example and nothing else) goes out of business or for some or the other reason will not allow you to withdraw your funds or compromises your trades or just decides one day to close down. What are you going to do. I’m not being funny here i.e. I’m really keen to know what the solution would be.
Notwithstanding any answer to the above though:
Do you really believe that the above statement is a prudent statement to be making on a site such as this.
And even if there’s even the slightest bit of substance to that statement: pray tell why an unregulated broker is better than a regulated broker. Just read that sentence (and this only occurred to me while I was typing the sentence). Just read how absolutely ridiculous that even sounds.
Fact of the matter is this:
There is only ONE thing that makes an unregulated broker preferable to a regulated broker and that is leverage. And the only reason one needs leverage is if you are under capitalized. And if you’re under capitalized you shouldn’t be trading in the first place. The only exception here are seasoned and profitable traders that will not hang themselves due to excessive amounts of leverage being available to them. And that accounts for probably 1% of the forum members of this site.