For any good broker, I don’t think that the attributed of being regulated and unregulated is not of much importance, it is about how quick they process withdrawals and deposits along with the spreads they offer and their reliability. These things are the major concerns for me.
You wouldn’t have any of these “major concerns” if the broker has tip toed away with your funds.
I strongly agree with you, I have traded with some regulated brokers before but my experience in terms of withdrawal and customer service wasn’t good. Moreover, they charge more commission as compared to the regulated ones. I have opened an account with Hugos way and coinexx currently.
Trading is like a business and you gotta risk things while doing business in order to earn something good. Moreover, these days there are some brokers that approve withdrawals within 24 hours. Thus one can make quick withdrawals if they have too much safety concerns.You just gotta do it nicely, that’s all.
Oh I see. How much commission are you paying now?
I have no issues with offshore(unregulated brokers). They tend to have better customer service, better trading conditions, faster withdrawals and better leverage.
There is a thread about this already with a list of Babypips trusted Offshore Brokers: https://forums.babypips.com/t/going-offshore-to-escape-the-cftc
I myself use IC Markets and EagleFX
I can see both sides if im honest but ive no problem with unregulated brokers. I use them a lot and have found them to be really good. Some have really good leverage and have great withdrawal facilities. I think most are putting too much importance on a broker having an office, if a regulated broker goes bust and you turn up at their door are they going to give you your money back, i doubt it. if theyre bust theyre bust. No one is getting anything back regulated or unregulated.The issue is how long have they been providing services, are there good reviews, are you happy with the service.
You should never leave money sitting in any trading account thats not being used fully. Withdraw constantly. I think both regulated and unregulated brokers have a place in forex. Especially as regulated brokers have really low leverage which opts the little guy out almost instantly. By the way i use IC Markets which are regulated and CedarFX which are not. Both im very happy with.
These days reputation is everything even for offshore brokers. They can make far more money just by taking a slice and being legitimate in their business actions. I’ve been using offshore for years now and the higher leverage is definitely a plus.
From what I have researched and experienced myself there is a lot to be said about regulations, however, excuse my biased ass, but I am an advocate for unregulated brokers as I feel there are more advantages for the clients trading via an unregulated broker compared to regulated brokers.
Becoming regulated, for the broker as a company is a very expensive thing to do, therefore they look at recuperating those funds back in, VIA their clients. SO, what they tend to do, is bump up the client costs through widening the spread, offering lower leverage, and bumping up the trade commission charge per trade that gets placed.
UNregualted brokers on the other hand, do not have this grand expense, therefore they make money via alternative ways, but allow the clients a little more freedom for example by offering a higher leverage- which I myself find to be more useful and beneficial to my style of trading, better spreads and lower trade commissions.
Also got to mention JP markets and Pepperstone shady cases. They are regulated right? And what that’s not stoping them to play against their clients.
In short i prefer to have good trading conditions and smooth trading at all than to rely only on regulations.
Honestly, being a regulated broker or not doesn’t makes much difference. As long as the reviews of a particular broker are good, the spreads, the commission charges are good, the broker is good to go
I am paying $2 per lot with my current broker which is not bad I think. Let me know if you use any broker that charges less than that.
If it’s both side, then that’s the lowest one I’ve came across, in fact I am paying the same fees with fxview. Which broker you’re seeing $2/lot?
Always only regulated - if not you are just donating money you will probably never see again! we represent a stock trading academy and we work with 2 major CFD stock and FX platforms you are welcome to check them out and I can show you how to use their MT% platform for real pro trading along with the ability to buy the actual stocks as well not just to trade their CFDs
hit me up if you want if not good luck and always remember the broker’s interest is for you to lose not win no matter if they are STP /ECN/MM so you must know who to trust and how to go about it
I am paying $2/ lot round trip with coinexx but I have also have an account with Hugosway. I have recently opened an account with coinexx so let’s see how it goes
Yeah, offshore brokers pretty much work for me too. They thrive on reputation or else people might not even trust them.
Can you tell me what broker you’re using? I’d like to go with offshore brokers too, the ones offering high leverage. I’ve been trying a few demos right now and I could really use some broker advice, thanks in advance.
But reputation isn’t everything right. Good services matter more to me. At least the spreads should be low. Fast payments are much needed too.
I don’t really care if a broker is offshore or domestic. I use regulated broker platforms since they are reliable. I’m using Xtb, Fxview. They are low with transaction fees and the payments are safe.
You’re right. I’m fine with an offshore broker too.
Why all the fuss? Transparency is what matters. I started with Fp Markets long back. Currently working on a demo with Ic markets and Fxview. All are regulated so there’s my safety net.