Welcome to trading as it exists today. -Best, -hg
FXChoice is a broker that offers Forex and CFD trading. It is own and regulated by the FXChoice Ltd. – offshore company, based in Belize and regulated by the local International Financial Services Commission (IFSC).
After that, I recommend investors and traders to avoid offshore companies and to invest with brokers regulated by reliable authorities such as UK’s FCA, or Australia’s ASIC, for example.
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Well said BogdanK.
Traders should also be aware that, across all jurisdictions, brokers will normally stipulate in T&C that their quote is the definitive price, not the value indicated on their charts. These are not the same thing, it is the quote that carries the legal rights and obligations, the chart is just a free service they offer customers to help them make trading decisions.
Even then, some charts show bid price and some show mid-price (which could be the average or could be the mean between the bid and the ask) so spread distances can be hidden.
I agree that people should look for the regulated brokers from FCA and ASIC, and more. I was scammed so bad few months ago from a Israeli broker. I am not talking about one bar or fake price. Everything there was fake, their platform, the price they were showing, some account manager that promise profits and so on…
I took an educational course from EAForexAcademy in June, and saw on their website one article called “How to recognize the scam brokers”. After reading it, I realized that all happens to me at the moment. What I asked to take my money out, I did not receive any answer, The account manager stopped calling me, and than I realized the hard truth I WAS SCAMMED.
So if you spend like 5 min reading this article, you will see how badly they act, and you will know how to avoid them. So I am very thankful to EA Forex Academy that they opened my eyes, because probably I would have put more money and lose all I have. Also, the courses from the Academy are very professional, but now I have to save some money again to start real trading…
Scammers will target anyone with a stockbroker or online stockbroking account who has poor computer security such as out of date anti-virus software.
and scammers will take your money with them and as result your investment will liquidate, try to do research before choising the broker.