How I Got Burned by a Fake Broker Using the Virtual Dealer Plugin (and What I Found Out)

[SchmaltzHerring]

@miyagisword

I was thinking, maybe the broker is regulated in the country where the poster lives, but that doesn’t have to be a fact

No, indeed not. Very often the broker isn’t even regulated in the country where the broker lives.

Very often the broker isn’t even regulated by a real regulator but by a subscription service one -

Subscription Service Regulator

Welcome to the forum. Diva is exactly right. In professional financial/trading circles, “subscription-service regulator” is the derogatory, maybe-slightly-slang term for a kind of pretend regulator that’s designed to look to potential customers like a legitimate, independent, official financial institution that can regulate brokers, but actually has no real power at all. They’re called that because they’re paid for mostly or entirely by subscription-fees from the brokers they pretend to regul…